How A Rare Type Of Mortgage Is Landing Homebuyers A 3% Mortgage Rate

Popular in the 1970s and 80s assumable mortgages have largely fallen out of the public consciousness. But as U.S. mortgage rates plateau above 6%, interest in this rare type of mortgage has seen a steady climb over the past three years. Now, U.S. homebuyers are looking into mortgage assumption as a way to secure a sub-3% mortgage rate.

Watch the video above to learn more about assumable mortgages, how they work, and why they can come with their own set of hurdles.

Chapters:
0:00 Introduction
1:57 What are Assumable Mortgages?

Produced and Edited by: Devan Burris
Graphics by: Jason Reginato
Supervising Producer: Jeniece Pettitt
Additional Footage: Getty Images, Wes Van Dell

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How A Rare Type Of Mortgage Is Landing Homebuyers A 3% Mortgage Rate