Finance
What is 'assumability' of an Oregon mortgage and which types of loans are typically assumable?
AAll conventional loans are assumable with lender approval
BFHA and VA loans are generally assumable (with qualification); conventional loans typically have due-on-sale clauses preventing assumption✓ Correct
COnly commercial loans are assumable in Oregon
DNo loans in Oregon are assumable
Explanation
FHA-insured and VA-guaranteed loans are generally assumable — a new buyer can take over the seller's existing loan terms. However, the new buyer must typically qualify with the lender (for post-1989 FHA loans).
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