Real Estate Term of the Day: Assumable Loan

Real Estate Term of the Day: Assumable Loan ASSUMABLE LOAN – a mortgage loan that allows a new home purchaser to undertake the obligation of the loan with no change in loan terms.  Most FHA and VA (government backed) mortgages are assumable (Barron’s Dictionary of Real Estate Terms) Benefits for the Buyers: Lower interest rate … More Real Estate Term of the Day: Assumable Loan

Real Estate Term of the Day: Assessed Value, Assessment & Assessor

Real Estate Term of the Day: Assessed Value, Assessment & Assessor ASSESSED VALUE – the value established for property tax purposes (Barron’s Dictionary of Real Estate Terms) ASSESSMENT – the amount of tax or special payment due to a municipality or association (Barron’s Dictionary of Real Estate Terms) ASSESSOR – an official who determines property … More Real Estate Term of the Day: Assessed Value, Assessment & Assessor