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Volume 3 - Number 5

March 5, 2010

FHA Rate Assumption an Option, Not Widely Used

One somewhat hidden benefit to FHA loans is that the mortgage is assumable, meaning an FHA borrower who re-sells a house when interest rates are higher can offer a potential buyer the right to assume his low-rate FHA loan. But only a handful of borrowers actually use this advantage, according to the Department of Housing and Urban Development. After being approved by the FHA, the new homebuyer can...

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