One option you have when purchasing a Miami condo or Miami home as an investment property, you can actually assume the seller's home loan instead of securing your own.

Assumption is an interesting option for a home buyer because it means you are probably putting less cash into the transaction. You will probably pay a point to assume the loan, but that cost is relatively low in the grand scheme of things. You're also not starting from scratch with your mortgage loan which ultimately means less interest being paid to the bank.

This type of financing also means that you can close more quickly on your home since the mortgage company has already assessed the property. Of course, not every seller will look favorable on a loan assumption, but it is an interesting option for a savvy real estate investor.

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