Taking Over a New Loan: Why?

What’s the advantage to taking over a loan as a opposed to just getting a new one?

Also, would the bank transfer my name to an existing loan that I am taking over?

Thanks in advance for your comments.


hi joedc,
just from my understanding if you can get a lower interest rate w the existing loan, and not the one that you are pre-approved for…the smart thing to do is just to assume the existing loan on the proprty.

strted @22


Yea, that’s what I figured.

Thanks, Joe.

Most assumable loans you will have to qualify for, FYI.