Any Tips For Contacting A Financial Institution For A Loan Assumption?

Any Tips For Contacting A Financial Institution For A Loan Assumption?

New to Real Estate · Jonesboro, AR · Member since 2023 · 61 posts · 13 votes

@Clay Reddick and I got a deal that we want to assume the loan on. We've confirmed the loan type is generally assumable and have the financial institution information we plan to call later today. Any tips on how to navigate that conversation? Is it as simple as calling their customer service line and asking about a loan assumption? Is there specific jargon that would make our conversation more successful? Like saying "subject to" instead of loan assumption (not sure if the two are equivalent l, it's just an example). 

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  • New to Real Estate · Jonesboro, AR · Member since 2023 · 61 posts · 13 votes
    3y

    Also this is my very first accepted offer, so even if the assumption fails it's a win for me.  :)

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