MPF on an assumable loan.
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?