Finance
In Colorado, an 'assumable mortgage' allows a buyer to:
AA. Create a new mortgage at their preferred rate
BB. Take over the seller's existing mortgage at its current rate and terms, subject to lender approval✓ Correct
CC. Have the seller's mortgage removed from the property
DD. Refinance the seller's mortgage at closing
Explanation
An assumable mortgage allows a new buyer to take over ('assume') the seller's existing mortgage at its current interest rate and terms. FHA and VA loans are generally assumable (subject to lender qualification requirements).
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