How to Take Over Someone Else's Mortgage Legally

how to assume a mortgage loan

Contact the current lender to request assumption information. Requirements to assume a loan vary among lenders. Even though you are taking over the loan, the lender may require a down payment. For an FHA loan, the down payment is typically 3.5 percent of the balance you are assuming.

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    Source: homeguides.sfgate.com

    Category: Credit

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