Finance
In Idaho, 'assumable mortgages' allow a buyer to:
AAssume the seller's identity on any loan
BTake over the seller's existing loan at the original terms, subject to lender approval✓ Correct
CAssume a higher loan amount without a new application
DAvoid all closing costs
Explanation
An assumable mortgage allows a buyer to take over the seller's existing loan at the original interest rate and terms, subject to lender qualification and approval. FHA and VA loans are generally assumable; conventional loans typically are not.
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