Posted by Lynn_Atlanta on May 01, 2000 at 22:59:24:
If it only costs $125 to assume than you shouldn’t have any other “major” closing costs. However, most loans that are “assumable non-qualifying” are going to be at least 10 years old and therefore the seller should have a large amount of equity that you may have to pay for, or maybe not
If you are buying it as an investment property why not just take it subject-to instead of actually assuming? Same effect, less liability.