Kevin Crampton

Assumable mortgages let buyers take over a seller's existing loan at the original interest rate. With 30-year rates near 6.30% today, this strategy can save buyers hundreds per month and help sellers sell faster at a higher price. Here's how it works, which loans qualify, and what both sides need to know before pursuing it.

According to research by The Pew Charitable Trusts, approximately 8 million Americans have used a land contract at some point to pursue homeownership. Right now, an estimated 1.4 million people are actively living under one - many of them without fully understanding what that document means for their financial future. A land contract is one of the most powerful and least understood real estate financing tools in the United States. It goes by many names: contract for deed, installment land...

What Is a Seller-Paid Concession? A seller-paid concession is a financial contribution the seller agrees to make toward the buyer’s transaction costs at closing. Instead of the buyer paying all of their closing costs, prepaid items, or rate buydown fees out of pocket, the seller covers some or all of those expenses. Here’s the key distinction that trips people up: a concession is not the same as a price reduction. The purchase price stays the same. The seller simply agrees to pay a portion of...