What’s in it for home buyers?

TransferMortgage IQ products (Leads and Scorecards) are valuable tools for residential property buyers… Here’s why:

Leads Identify properties with valuable assumable FHA or VA mortgages.

Buyers use leads to identify properties with assumable mortgages which can save them hundreds of dollars a month and hundreds of thousands of dollars in interest costs over the life of the assumed mortgage.

Scorecards Quantify the value of these mortgages.

Buyers use ScoreCards to determine the value of assumable mortgage associated with a given property.

In the US there are over 7 million homes with existing FHA or VA mortgages. By law, buyers can assume these mortgages. This essentially means that the buyer takes over the mortgage from the seller. The buyer gets the benefits of the existing mortgage’s lower monthly payments, huge interest cost savings and much faster equity build as compared to taking a new conventional mortgage.

The reduction in monthly payments means that a buyer can afford homes they may not be able to afford with a conventional mortgage. TransferMortgage™ makes home ownership affordable for working American families!

Plus… the cost of closing on assumed mortgage can be MUCH lower than taking a new mortgage. The fees that servicers can charge are capped by law; certain assessments and inspections are not required and, since there is no new mortgage, there is no origination fee (which is often 1 – 1.5% of a new mortgage).

Leads and Scorecards are super affordable. Leads are $1.00 or less and Scorecards are $10.00 or less. Get started now and see which homes (both on and off market) have assumable mortgages and check out the value of the associated FHA and VA mortgages.

Once you have identified the property you want and have entered a sale agreement that includes assumption provisions, TransferMortgage provides Concierge Services to get you to the closing table quickly and efficiently.

TransferMortgage™ Concierge Service fees are often more than offset by lower (or no) payments to other providers. We provide complete management (we call it “quarterbacking”) of the mortgage assumption process from the time the agreement of sale is complete to the closing table. This transparency and efficiency are critical for buyers to make sure they are able to track their new home purchase process.

As a side note, TransferMortgage™ knows that sellers may provide concessions to help cover TransferMortgage™ fees – this is entirely at the discretion of the seller and buyer, but certainly something to think about as you negotiate with sellers.