Workout assumption
Workout assumption
Workout assumption is the transfer of an existing mortgage from an at-risk borrower to a qualified third-party. A workout assumption is usually only a consideration when a borrower has serious financial problems that aren't likely to be resolved. The lender must approve a workout assumption.
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National Rates
| Loan Type | Today |
|---|---|
| 30 yr fixed | 4.83 |
| 15 yr fixed |
4.39 |
| 5/1 ARM | 3.69 |
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