Press Release Summary: HomeAssume.com is the first online resource connecting real estate buyers and sellers with assumable mortgage loans.
Press Release Body:
What is HomeAssume.com?
HomeAssume.com is the first on-line resource dedicated to helping buyers and sellers find homes with assumable mortgages. It’s like an online dating service for buyers and sellers with assumable mortgages. Consider it another real estate resource for anyone to buy a home.
HomeAssume.com brings back the “forgotten option” of assuming a home loan – a viable option that was popular back in the 1980’s, but many don’t know about it today. It gives buyers and sellers a cost effective real estate transaction - a great option to have in today’s market.
How Does It Work?
Buyers and sellers come together on one website as they search for assumable mortgages, rather than searching a website that sells items from baseball cards to real estate. Sellers can post and buyers can browse, and a home advocate is available to help navigate through the process.
While there are on-line sites available for house-swapping or for sale by owner, there are not other resources available like HomeAssume.com to find homes specifically with assumable mortgages.
Assumable Loans: “The Forgotten Option”
Assumable loans were highly used in the 1980’s, but with low interest rates, it became less of an option in the past 20 years. Today, those same low interest rates can be attractive to many buyers who could benefit from this type of transaction.
In the United States, we estimate there are at least 206,700 homes for sale with assumable mortgages based on mortgages that must be classified as assumable, such as FHA and VA loans. We estimate that a state like Colorado has at least 8000. There are many more out there with standard loans, but since each is loan is different, that type of info is not generally available from tracking sources. This is a very conservative estimate, but it gives an idea of the minimum amount of assumable loans out there.
A Cost Effective Solution for Buyers: • It is easier to qualify for these types of loans with a potentially lower market rate. • There is no down-payment to assume a loan, something that is required by almost very mortgage in today’s market. • Buyers simply take over mortgage payments on the property.
A Cost Effective Solution for Sellers: • Helps sellers who want to move, downsize, relocate, want to save money on real estate fees, are “upside-down” and if they do not have the equity to sell. • Sellers do not pay realtor fees when their loan is assumed, which can average at about 6%. On a home worth $250,000, a realtor fee could be $15,000 for the seller. If there is no equity in the home, the seller would lose even more. • Sellers pay a nominal fee to post their home.
Web Site: http://www.homeassume.com
Contact Details: 9233 Park Meadows Drive #8 Lone Tree, CO 80124 866-252-6791 brad@homeassume.com
2022
