We identify, quantify and help facilitate the assumption of valuable low-interest mortgages.

The Situation

For many Americans, owning their own home is a cornerstone of the American Dream and the most significant financial asset that they will ever own.

For well over a decade, mortgage interest rates were at all-time lows. However, they have more than doubled – and they’re not likely to go back down. This puts homeownership out of reach for many working American families.

The Good News

The good news is that there are 7 million homes with existing low-interest rate mortgages that a new buyer can take over when they buy the home.

Most people don’t know it, but by law every FHA and VA loan can be “assumed” by a new buyer of the home and the existing borrower is released from all responsibility for the mortgage. Existing FHA and VA loans often have much lower rates than a new conventional mortgage.

What TransferMortgage™ Does

The trick is finding these gems and getting everyone to the settlement table. That’s exactly what TransferMortgage does:

• We Identify properties with valuable FHA and VA mortgages – We built a proprietary data base of these 7 million mortgages
• We Quantify the value of these mortgages – We developed a patent pending “Scorecard” to quantify the savings
• We Facilitate the assumption – We get the buyer and seller to the closing table efficiently.

Benefits for the Buyer
With current mortgage interest rates hovering around 7% it’s not hard to understand that assuming a mortgage originated several years ago at a 3% interest rate is incredibly valuable.

Mortgage assumption allows buyers to substantially reduce their monthly mortgage payments – often by several hundreds of dollars a month, save tens or hundreds of thousands in total interest costs, and build equity much more quickly than if the buyer took out a new mortgage at today’s rates.

Benefits for the Seller
Assumable mortgages are valuable assets that many sellers are unaware of.

By offering the assumption of their FHA or VA mortgage, the seller broadens the pool of buyers who can afford their home and is able to negotiate a higher price for their home.

Benefits for the Real Estate Agents
Real Estate agents close more deals at higher prices and earn more commissions while providing a valuable service to their clients.

Leads: Allows buyers and real estate agents to search for properties with valuable, assumable FHA mortgages and contact the owner / seller.

Scorecards: Quantify the value of specific assumable FHA or VA mortgage in terms of lower monthly payments, faster home equity build, and total interest cost savings over the remaining life of the mortgage. We provide calculations with and without a 2nd mortgage and compare mortgage assumption to a new mortgage at today’s rate.

Assumption Coordinators: The process of assuming a mortgage can be tricky. TransferMortgage™ provides services that “quarterback” all the activities necessary to get all parties to the closing table efficiently. The cost of facilitation is greatly outweighed by the financial benefits the buyer enjoys.