assumable

assumable
As applied to mortgage loans, assumable means that a borrower who sells his or her home may transfer the outstanding mortgage loan secured by that dwelling to the new buyers. The new buyers are said to assume the loan. American Banker Glossary

Financial and business terms. 2012.

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Look at other dictionaries:

  • Assumable — As*sum a*ble, a. That may be assumed. [1913 Webster] …   The Collaborative International Dictionary of English

  • assumable — index constructive (inferential), ostensible Burton s Legal Thesaurus. William C. Burton. 2006 …   Law dictionary

  • assumable — 1784, from ASSUME (Cf. assume) + ABLE (Cf. able). Related: Assumably; assumability …   Etymology dictionary

  • assumable — assumability, n. assumably, adv. /euh sooh meuh beuhl/, adj. capable of being assumed, as an office or an obligation: Assumable mortgages are hard to find these days. [1775 85; ASSUME + ABLE] * * * …   Universalium

  • assumable — adjective Of or pertaining to assumption. That would be the assumable outcome …   Wiktionary

  • assumable mortgage — A home mortgage that allows the buyer to take over the seller s mortgage; that is, to step into the seller s shoes, make mortgage payments, and comply with other terms of the existing loan. Most lenders require the borrower to qualify for the… …   Law dictionary

  • Assumable Mortgage — A type of financing arrangement in which the outstanding mortgage and its terms can be transferred from the current owner to a buyer. By assuming the previous owner s remaining debt, the buyer can avoid having to obtain his or her own mortgage.… …   Investment dictionary

  • assumable — adjective see assume …   New Collegiate Dictionary

  • assumable — adj. surmisable, can be assumed …   English contemporary dictionary

  • assumable — as·sum·a·ble …   English syllables

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