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HomeForumsBuying & Selling Real EstateMPF on an assumable loan.
DJ Porter's profile image
DJ Porter's profile image
DJ Porter
  • Involved In Real Estate
  • from Rainier , Washington
  • Member since Nov 4, 2013
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DJ Porter's profile image
DJ Porter's profile image
DJ Porter
  • Involved In Real Estate
  • from Rainier , Washington
  • Member since Nov 4, 2013
Connect
DJ Porter
  • Involved In Real Estate
  • Rainier , WA
9
Votes |
31
Posts
Buying & Selling Real Estate

MPF on an assumable loan.

DJ Porter
  • Involved In Real Estate
  • Rainier , WA
Posted Apr 4 2014, 22:39
I ran into a MFP for sale on the MLS. 78 units total. The list price is $4,900,000. But there is an assumable loan of $2,740,000 at 3.96%. I'm not sure how much longer the term is. This may sound crazy; If I bought the place would I be paying the total $4.9M or just the $2.74M? If I have to pay the whole amount then why offer the assumable loan?
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