Thank you Dan for educating buyers and sellers! In the meantime please inform us about the pros and cons of having a assumable loan! How I know sellers will be responsible for the loan payments if the buyer stops paying! Thank you I hope to hear from you soon!
@johndavis24942 жыл бұрын
I think we should think twice before getting into it.
@crhoads13 Жыл бұрын
Super valuable piece of info! I doubt many people even know their FHA loan is assumable.
@joshuacampbell93332 жыл бұрын
this is so relevant today. you should think twice before you make these decisions
@JM-ls8du Жыл бұрын
Thank you very much for the info, I couldn’t find a video with the first steps to do it.❤❤
@MultifamilySoCal Жыл бұрын
You’re welcome 😊
@Harlem_knights2 ай бұрын
Gonna be selling my home in houston using this method hopefully I can find the right buyer🤞🤞
@kartiersupremewhite3304 ай бұрын
Extremely interesting and informative..
@abigailmoore26022 жыл бұрын
Valuable content indeed! It's great to know these things before assuming a loan.
@oliviamiller51422 жыл бұрын
So good I watched this first!
@annacooper32302 жыл бұрын
I’m a regular visitor on this channel.
@cortneycampbell82912 жыл бұрын
You are one of my favorite content creator!
@shelbycollins20032 жыл бұрын
Yup! been hearing this Loan Assumption now.
@szentharvey97702 жыл бұрын
Yes! we should now first the cost in assume loan.
@szentisfonta68942 жыл бұрын
Awesome! Thank you for sharing your thoughts about Assumption Loan
@sarahwright12882 жыл бұрын
Wow, this video quality is awesome, how did you record this?
@laurajean70463 күн бұрын
Do I also need to file a quit deed to get co-owner off the title and pay those transfer land taxes too? He’s gifting me the full ownsrship
@stiffilee37722 жыл бұрын
Great piece of info. Sharing this!
@claudiamacias9941 Жыл бұрын
Great content!
@alvincabraljr.27692 жыл бұрын
This is very timely since lot of people wants to loan
@tylerwolf68802 жыл бұрын
Thank you for the tips Sir! This is a very valuable information as I'm planning to get a loan.
@ponce-874 ай бұрын
Hey brother, I live in Southern California and am interested in this. Is there someone I can talk to from your office?
@amoshernandez23132 жыл бұрын
Thanks for sharing your insights, Dan!
@jonm6762 Жыл бұрын
Doing this right now. Getting a 2.65% loan.
@halffeelee7 ай бұрын
Did you have any issues with the lender calling the loan due? Or were you very transparent with the lender upfront?
@ivanramirez99286 ай бұрын
@@halffeeleeyou have to be transparent. And in most cases your going through a loan servicer and not the actual lender. Loan servicer buys the debt from the lender and is receiving your monthly mortgage payments. As long as it will be your primary residence and you qualify than you should be okay. Some people may need a co-signer.. and it has to be their primary residence as well(on paper.)
@stevenchapman58106 ай бұрын
I myself am starting the process hopefully on Wednesday at 2 and 1/4..
@tijo453 ай бұрын
How do you find a property like this where you can assume the loan?
@danblackwell3 ай бұрын
when searching for properties online look in the description for assumable financing...should be detailed there and it's always good to ask a listing agent on a property you're interested in, if the loan is assumable
@jayjaechua50072 жыл бұрын
Very nice tips.
@lunamoore13632 жыл бұрын
I am enlightened.
@waynewalker13022 жыл бұрын
this is awesome to know. any thoughts about accounting for inflation?
@danblackwell2 жыл бұрын
you make your money on the buy and upside in rents to hedge
@alvinrichardson89442 жыл бұрын
These three things are very helpful
@joshualorde20282 жыл бұрын
Glad to have known this!
@oliviawhite99462 жыл бұрын
Huge thanks for this.
@joseparra49769 ай бұрын
Currently it's 90-120 days to assume a loan.
@ivanramirez99286 ай бұрын
Yeah it’s crazy… I’m guessing that since loans have had low rates from 2016 - 2021 assumable loans weren’t as common or valuable as they currently are. So loan servicers are taking their sweet time to get used to the influx of assumable loans being put on their desks.
@hilaryjorge15002 жыл бұрын
cool! Thanks for providing this info!
@lesliehatun2044 Жыл бұрын
What happens to the veterans VA HOME LOAN benefit? If I sell my ASSUMABLE loan WHAT HAPPENS TO MY BENEFIT?
@avasmith48992 жыл бұрын
Think hundred times.
@jbanderson33382 жыл бұрын
Now I know the next time I will loan
@amirlincoln7183 Жыл бұрын
Thank you!!!
@MultifamilySoCal Жыл бұрын
You're welcome!
@Pythonzzz Жыл бұрын
I’m curious why lenders would agree to let a buyer assume a mortgage at a low rate in this high-interest environment? It seems like they would be incentivized to get rid of them and write new, higher interest loans.
@javierw539511 ай бұрын
It keeps the business and payments/interest with their company.
@brigittecartrette5 ай бұрын
It’s only government loans and I don’t think they can deny it, it follows the “rules”.
@extremegirlny Жыл бұрын
I have a concern in regards to the amount. If a buyer assumes a mortgage, is it strictly for the amount of the balance or can it be restructure to assume for a higher amount???
@jamarmills8575Ай бұрын
It's just for the remaining balance of the loan Let's say the seller had a loan of 8 million and they decide to sell it at the time that they have 3 .5 M left to pay off then that's what is assumable their could be nothing higher
@DefSquadFan8 ай бұрын
Is this the same for a car loan?
@brianthompson13022 жыл бұрын
You are so thoughtful! Thanks for sharing this!
@ArreazasAdventures-ms8wn6 ай бұрын
Thank you Pennywise🙌
@baylorrosumny5713 Жыл бұрын
I was told you can’t assume a loan for a rental property… is that correct? Does it need to be for a primary residence only?
@danblackwell3 ай бұрын
you can assume a loan on an income property. For example, we help buyers assume several Chase loans on multifamily real estate.
@kingmode410 ай бұрын
on a loan assumption is the seller able to make any money or is it just an avenue for them to get out from under the home/mortgage?
@ivanramirez99286 ай бұрын
The seller can make money if they have equity in the home and if the value of their property has increased. And regardless if the seller doesn’t have much equity, assumable loans are very attractive with the current rates resting around 7-8%. So that gives the seller the upper hand. An assumable loan with a low rate is good debt. Find a realtor who’s knowledgeable about assumable loans.
@kwmlin02 Жыл бұрын
0:50 Can seller refuse to let the buyer assume the assume loan? Or it just need loan company / bank agrees.
@jamarmills8575Ай бұрын
The original lender has the say so in this case the buyer has to qualify by having great financial status and experience in order for the lender to approve the loan for them to take over first
@nneisler7 ай бұрын
how much was the equity portion?
@ivanramirez99286 ай бұрын
It depends on how much equity the owner has from mortgage payments + the increase in value of their property. If you don’t have a lot of liquid money on hand it’s best to find an assumable loan owner who purchased from 2016 - 2021. That’s the sweet spot where interests are low and equity aswell.
@danblackwell3 ай бұрын
buyers for multifamily real estate in Socal are putting down on loan assumptions. approx 40 to 50% that's the average.
@luissantiago6630 Жыл бұрын
does a company help you d a loan assumption?
@halffeelee7 ай бұрын
The lender and title company can, I’d imagine.
@MiaogisTeas8 ай бұрын
You spoke to us using agent lingo. We're not Real Estate agents, so don't use industry terms, use real-world terms. I had to go and look up half of the words you used but even then it didn't make sense because they're out of context. Also don't pay for comments, it's so obvious, and it's just sad.
@RVAGrappling Жыл бұрын
Has anyone here successfully assumed a loan?
@Visions-of-the-future10 ай бұрын
No
@ms.B896 ай бұрын
Yes, it’s just like closing on a new home loan. Similar document request, process etc.
@RVAGrappling6 ай бұрын
7 months later here, I pulled it off. It took forever, total of eight months by the end of it.
@isaiahreyes036 ай бұрын
@@RVAGrapplingthats awesome!
@johnm59285 ай бұрын
@@RVAGrapplingcurious where you're located and did you pay any extra for the house? I'm about to put mine on the market with an assumable at 3.25 so just curious what the process was like from a buyers perspective. Thanks!