Search found 2 matches
- Tue Jan 24, 2023 3:27 pm
- Forum: Personal Finance (Not Investing)
- Topic: Advice on Assumable Loan
- Replies: 2
- Views: 235
Re: Advice on Assumable Loan
Appreciate the advice! And good questions to consider.
- Tue Jan 24, 2023 12:36 pm
- Forum: Personal Finance (Not Investing)
- Topic: Advice on Assumable Loan
- Replies: 2
- Views: 235
Advice on Assumable Loan
Hello,
I recently put an offer on a house that had an assumable mortgage (VA loan). The real estate contract included that the purchase would be contingent on assuming the loan and closing would be in 45 days. The offer was accepeted. However, the mortgage lender said it could take up to 6 months because they are backed up. Is there a reasonable solution/contract to bridge the gap for 6 months until the loan is assumed. Rental agreement etc.
Thank you,
I recently put an offer on a house that had an assumable mortgage (VA loan). The real estate contract included that the purchase would be contingent on assuming the loan and closing would be in 45 days. The offer was accepeted. However, the mortgage lender said it could take up to 6 months because they are backed up. Is there a reasonable solution/contract to bridge the gap for 6 months until the loan is assumed. Rental agreement etc.
Thank you,