FROM THE BOSS!
"providing professional service is the mission of Long & Foster & I am delighted to be able to present you with the Long & Foster Service Award...."
P. Wesley Foster, Jr.President
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Welcome > Local Info >
Fredericksburg Information ...
About the Fredericksburg, Virginia Area Stafford, Spotsylvania, and Fredericksburg are among the most inviting places to live in the United States! When most people are looking to relocate to an area they call home, they are looking for an area with a good economy, good climate, affordable housing, and good quality of life. That’s what you will find here, and much more!
Financing Your Home >Assuming a Mortgage
You may be able to assume the seller's mortgage liability when buying a house instead of having to apply for a new loan.
Assuming a loan could minimize your down payment or closing costs and get you a more advantageous interest rate. To know whether an assumption will work, find out the loan balance. If the balance is a small fraction of the purchase price, you will have to come up with a large down payment or get a second loan for the difference, unless the seller is willing to provide some of the financing. If the loan balance is high, the loan may have been made when interest rates were higher than they are today.
Most newer loans that are assumable have adjustable rates. If you are considering an assumption because of credit problems, you will need the lender's approval to make the transaction work.
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| Q |
What site discovered in 1965 is considered the world's oldest known habitation?
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The Terra Amata site in Nice, France has the remains of 21 huts belonging to the Acheulian culture from 400,000 years ago. |
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All rights reserved. All information deemed reliable but not guaranteed.
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