Terms that are on use on this site.
There are 59 entries in this glossary.| Term | Definition |
|---|---|
| Assumable Mortgage |
The A mortgage which a qualified buyer can take over from the current owner of a property upon its sale. Assuming a mortgage can provide a buyer with a below market interest rate, (if rates are now higher), as well as saving on the legal costs of creating and registering a whole new mortgage. \"Assumption\" entails a simple amendment to the mortgage document registered on title (see \"switch\"). |
Thank you for helping us to step forward into home ownership! Your guidance helped us to find the mortgage that was right for us. We really appreciate all of your insight - you made what was a daunting process relatively painless.
Youtube
Facebook
Twitter
LinkedIn