Posted by Ed Garcia on March 28, 2001 at 10:09:22:
When you ask what are the characteristics of an assumable loan? Of course that it’s ASSUMABLE.
I think what you’re trying to say is, which is better a fixed or assumable loan. I myself at one time would have told you FIXED. Today I wouldn’t say that, I think that each loan serves a purpose. If rates are up, get an assumable and ride out the storm. When rates are down, it’s a great opportunity to lock up some good bottom basement financing.
BJA, you asked a simple question, I gave a simple answer, Hope it helps?.