Assuming a Loan on a Miami Investment Property

Read this tip to make your life smarter, better, faster and wiser. LifeTips is the place to go when you need to know about Miami Investment Property Tips and other Miami Real Estate topics.

Can I assume the sellers mortgage loan when buying a Miami investment property?

Assuming a Loan on a Miami Investment Property

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.



Nobody has commented on this tip yet. Be the first.


URL: (optional)


Not finding the advice and tips you need on this Miami Real Estate Tip Site? Request a Tip Now!

Guru Spotlight
Lynda Moultry