Finance
A Washington borrower has an existing mortgage with a low interest rate and wants to sell their home to a buyer who would like to take over the payments. The buyer's ability to do this depends on whether the existing mortgage is:
AA fixed-rate or adjustable-rate mortgage
BAssumable (specifically allowing transfer to a new buyer)✓ Correct
CFrom a federally chartered bank
DOver 10 years old
Explanation
Assumability depends on the mortgage terms. Most conventional loans have due-on-sale clauses preventing assumption.
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