Finance
In Kentucky, an 'assumable' FHA mortgage allows the buyer to:
AObtain a new FHA loan automatically
BTake over the existing FHA loan, subject to lender qualification✓ Correct
CAssume any mortgage without qualification
DPurchase the home without a down payment
Explanation
FHA loans are generally assumable, meaning a buyer can take over the seller's existing FHA mortgage at its current interest rate and balance, subject to lender qualification approval.
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