In its simplest form, the “subject to” in a subject to mortgage refers to the loan that’s already in place. When you purchase a property subject to, you are essentially buying the home subject to the existing mortgage — that’s really all there is to it. The original underwriting is kept as is, including the name in which the loan was purchased.
Compared to a traditional house sale, a new concept being pushed is a subject to loan assumption. It sounds good on paper, but ive never heard of them before
>In its simplest form, the “subject to” in a subject to mortgage refers to the loan that’s already in place. When you purchase a property subject to, you are essentially buying the home subject to the existing mortgage — that’s really all there is to it. The original underwriting is kept as is, including the name in which the loan was purchased.
Compared to a traditional house sale, a new concept being pushed is a subject to loan assumption. It sounds good on paper, but ive never heard of them before
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