Assumable Edge is a daily newsletter featuring properties with assumable mortgages. With an assumable mortgage, the buyer of a property can assume, or take over, the mortgage of the seller. Many of these properties can have mortgage rates as low as 2%.
The motivation for starting this newsletter was my own frustrating home buying experience over the past year. With interest rates significantly above where they had been for many years, and with home prices at record highs, homes have become particularly unaffordable. For a $416K home (which is the median cost of a house in the US), with a 20% down payment, the monthly mortgage payment is about $1,650 at a 2.5% interest rate, while at a 7% interest rate, that payment is about $2,770. What I was