Hi Ags,

Need some advice on gauging the value of an assumable loan. I've found a home in the League City area with an assumable loan of 270k at 2.25%+.7% PMI. The home is priced higher and is more of a starter home which is why I believe the seller is willing to pursue a buyer assuming the loan. The sellers realtor also revealed to me that they've already purchased another home and are needing to sell quickly. The home is nice but I wouldn't say is mine or my wife's dream home.

I have the capital to assume the loan up to the purchase price. Purchase price would be in line with the county appraisal and I am going to offer low to start. I'm just not sure I want to make the jump to purchase a home - I'm 27, no debt, and a have a good job in the area. Not in a rush to buy a home but worry what prices will be once rates cut.

My question is a loan at that rate worth jumping on in this market even if I'm not all in on owning a home?

Thanks to all

Financially it could be fairly good investment but I'd have to scrub the numbers a lot more than on just your post. My very rough numbers is about 600 a month in payment savings. So an ROI on down payment to savings could be good.

But as Red said if you are not ready and done the research and understand home ownership don't do it. It a completely different world then you have now.