banks will hate me for telling you this secret hey realtor i'm ready to buy this house i like your energy but you should weigh interest rates are way too high i'm not worried about interest rates i follow bam joss do not buy a house and you know this secret i found a seller with an assumable mortgage you found a whoa what you heard right i found a seller with an already existing mortgages and he's willing to sign it over to me so i don't have to get a new loan or a new interest rate okay you could do that but wouldn't it take more time assuming their mortgage and putting in your name yeah that's true but alone i'm assuming could be well worth the time the average loan assumption takes forty five to ninety days to complete now if the home is worth it the numbers make sense but you don't want to pay the high interest rate you should always ask your seller if the loan is assumable okay