First of all, most houses simply aren't sold with assumable mortgages -- qualifying or not. Usually you'll have to get your own mortgage. Banks have increasingly prohibited their mortgages from being assumed, and even if there's no such prohibition, ... Note that assumable loans are more likely to be Adjustable than Fixed...
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michaelbluejay.com/house/assumption.html
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A mortgage loan that allows a new home purchaser to undertake the obligation of the existing loan with no change in loan terms. Loans without Due-On-Sale Clauses, including most FHA and VA mortgages, are generally assumable.
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www.answers.com/topic/assumable-loan
www.answers.com/topic/assumable-loan
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Every once in a while, the subject of assumable loans comes up. An assumable loan is one where the owner of a property has the ability to pass the loan along with the property in a sale. ... About the only loan that generally has an assumption feature is the VA loan. There are other loans out there that are assumable,
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www.searchlightcrusade.net/2008/05/loan_assumption_and_...
www.searchlightcrusade.net/2008/05/loan_assumption_and_assumable.html
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Time may work in favor of homeowners with assumable loans who are seeking a buyer before they lose the property or have to settle for a short sale. "Banks are taking anywhere from three to four months to approve short sales, and foreclosures generally take about six months," says Viotto.
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www.bankrate.com/finance/mortgages/will-assumable-mortg...
www.bankrate.com/finance/mortgages/will-assumable-mortgage-solve-crisis-1.aspx
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I've purchased many properties over the years - and many of them had assumable loans...but typically I could negotiate a better interest rate so did not assume. I'm scratching my chin over it and can't even think of once that I assumed an assumable loan.
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www.askmehelpdesk.com/real-estate-law/assumable-loans-r...
www.askmehelpdesk.com/real-estate-law/assumable-loans-real-estate-transactions-54145.html
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Another individual or entity can acquire the mortgage either with or without qualifying, depending upon the type of loan. Most assumable loans now require the new buyer to qualify. Assumable loans include FHA, VA and owner-financed notes.
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www.rogueinvestor.com/definitions/assumable_loan.html
www.rogueinvestor.com/definitions/assumable_loan.html
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Assumable loans permit one borrower to take over a loan from another borrower without any change in the loan terms. Such loans still exist but they aren't very common or popular (for buyers) in a low-interest-rate environment.
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www.frontiernet.net/~encel/assum.htm
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Assumable Loan - ; These loans may be passed on from a seller of a home to the buyer. The buyer "assumes" all outstanding payments. ... For adjustable loans, caps are usually quoted as two numbers as in 2/6. The first number indicates how much a loan may adjust at each adjustment period while the second number indicates...
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www.pmlco.com/mortgage_glossary.html
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Assumable No Qualifying Loans. Cut-Off Dates For FHA and VA Assumable No Qualifying Loans. Las Vegas Real Estate - Bart Austin, REALTOR - Las Vegas Homes - Las Vegas Condos - Relocation To Las Vegas! Thousands of Las Vegas MLS listings to choose from! ... Assumable no qualifying loans - assumable no qualifying fha va loans,
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www.bartaustin.com/lasvegas/dates.html
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