Quickly understand mortgage interest credit.
Some Mortgage loans are assumable, but many are not. A VA mortgage loan is assumable if assumed by another Veteran as to his primary residence. FHA residential mortgage loans are not assumable. The reasons are obvious, the circumstances of every borrower are different. When underwriters approve a loan it is for that individual borrower. Commercial loans are different and in many cases are assumable. Cost Effective Loans can guide you with whatever the circumstances are.
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