Tag Archives: how to assume a mortage Grand Island

Home Loan Assumability is Making a Comeback to Western New York

As interest rates slowly increase, we’re starting to see more and more buyers in Buffalo, Lewiston and Niagara Falls taking advantage of assumable home loans to make the purchase. Mortgage assumability is a feature that enables homebuyers to take on the loan previously obtained by the seller. The catch here is that the buyer has to pay interest at the same rate as the seller did. Continue reading