Posted by Don Dion on September 15, 2003 at 23:14:03:
The lender will send out a loan assuption kit to you that will have all the forms they need and the list of docs. Normaly it’s about the same as a regular loan. Not many commercial loans are assumed because of the downpayment needed since in most cases they dont allow for second mortgage’s.
Posted by david on September 15, 2003 at 19:08:31:
Hi,
Does anyone know what documentation a bank will usually ask from someone assuming a mortgage? Will they ask for a complete financial package or they just check your credit?