How a rare type of mortgage is landing homebuyers a 3% mortgage rate
Popular in the 1970s and 1980s, assumable mortgages have largely fallen out of the public consciousness. But as U.S. mortgage rates plateau above 6%, interest in this rare type of mortgage has seen a steady climb over the past three years. Now, U.S. homebuyers are looking into mortgage assumption as a way to secure a sub-3% mortgage rate. Watch the video to learn more about assumable mortgages, how they work, and why they can come with their own set of hurdles.
Popular in the 1970s and 1980s, assumable mortgages have largely fallen out of the public consciousness. But as U.S. mortgage rates plateau above 6%, interest in this rare type of mortgage has seen a steady climb over the past three years. Now, U.S. homebuyers are looking into mortgage assumption as a way to secure a sub-3% mortgage rate. Watch the video to learn more about assumable mortgages, how they work, and why they can come with their own set of hurdles.
