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Home assumable mortgage loan

The assumable mortgage loan is the mortgage type that you can let someone else "take over" if they buy your home or multi-residential real estate from you.

Why is the assumable mortgage amazing? Cause it can save you money - and savings are super!

When you have this type of mortgage loan, a person buying your home or multi-residential real estate can just "take your mortgage from you" - and that means you can get rid of it without paying it out. And paying out a mortgage loan usually costs money - cause you usually gotta pay your lender financial penalties for doing so. Especially if you pay out your mortgage loan before the end of your mortgage loan term. So if you got a non-assumable mortgage loan, you would lose money by having to pay those penalties.

As well, when a person takes an assumable mortgage loan over from you, you'll get all of the principal amount (the amount of money you borrowed) that you paid off, back - in cash! And you can use that cash for anything you want - you can use it to make a down payment on your new home or multi-residential real estate - or, if you get enough money from your previous home, you might even be able to buy your new home or multi-residential real estate with cash, and have it be mortgage loan-free!

Acquire this type of mortgage loan today! Fill out the home mortgage application.

Just so you know: if you get an assumable mortgage loan for your home or multi-residential real estate - that real estate has to be 'owner-occupied' which means: you have to live in it.

If you want to find out more info about assumable mortgage loans, contact The Mortgage Store Online's brokers by using the contact form or by calling them at 1-866-880-2577.

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