In the 70s there used to be assumable mortgages and those were very popular. Am I correct that no loans are assumable today?
If so, in the last few years all these brilliant home buyers just looked at the monthly payment on their fixed $500,000 30-year loan when they bought. But Joe Homedebt must move every 5 years.
No future buyer can assume his way-low-interest mortgage.
Therefore, oops, the actual home price and not the monthly payment had been the important thing to consider before purchasing.
Notice how at Realtor.com they calculate the “monthly payment” for you so you are suckered into ignoring the home´s price?
