FHA Mortgages - They Are Assumable. How to take advantage?

[Frank Martielli]

FHA Loans are assumable, as are most (all?) govt backed loans, I believe.

I've been thinking about this myself. All the 3-4% mortgages out there are assumable. But how to take advantage of that?

Looking for anyone else's input or experience, and might even be interested in teaming up with people.

Thanks everyone.

Sincerely,
Frank

[Frank Martielli]

Ah, I didn't even think of this part. Anyone know what the actual rule is?

Under this scenario, would the new owner have to occupy for a year?

The way I see it is since we aren't disturbing the original mortgage and just taking it over, if the one year requirement has been met (which is a guarantee under this scenario) why would it have to be met again?