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Updated almost 3 years ago on . Most recent reply

William Coet's profile image
William Coet's profile image
William Coet
  • from Lititz, Pennsylvania
  • Member since May 7, 2013

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William Coet's profile image
William Coet's profile image
William Coet
  • from Lititz, Pennsylvania
  • Member since May 7, 2013
William Coet
  • Lititz, PA
271
Votes |
581
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Buying & Selling Real Estate

Is There a Strategy To Get Bank To Allow Mortgage Assumption?

William Coet
  • Lititz, PA
Posted

The seller has a rate of ~4% and we are being quoted 8%.  Is there any way a bank will allow a mortgage to be assumed?  Initially they said no, but can a "higher-up" approve it?  Are there any strategies to make it happen?

Thank you

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Charles Carillo's profile image
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Charles Carillo
  • Rental Property Investor
  • from North Palm Beach, FL
  • Member since Apr 8, 2018

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Charles Carillo's profile image
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Charles Carillo
  • Rental Property Investor
  • from North Palm Beach, FL
  • Member since Apr 8, 2018
Charles Carillo
  • Rental Property Investor
  • North Palm Beach, FL
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Charles Carillo
  • Rental Property Investor
  • North Palm Beach, FL
Replied

@William Coet

You could try but, it would not be in the bank's best interest to have the mortgage assumed.

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