Latest / The Assumable Guy Show
Can I Assume a Mortgage on a Second Home or Investment Property?
Most people assume assumable mortgages are only for primary residences. They are not. Ryan breaks down exactly how investors and existing homeowners can use VA and FHA assumptions to get into rental properties at rates in the twos and threes. He walks through a real deal where an investor got into a $440,000 property with only $16,000 down at a 2.99% rate, cash flowing from day one while a conventional investor loan on the same property would have required $88,000 down and a payment nearly $1,200 higher every month. He also covers the FHA live-in-then-convert strategy, the VA no-occupancy…
The skinny
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