Quote Originally Posted by Anna Nikkole View Post
I have a cute adorable home I do longer term Airbnb. I have a very low interest rate. In this life I doubt it will go that low again. I am looking into selling as I'm doing short term rentals. The person who assumes my loan needs a 580 to qualify. I had nearly 200 points over that to obtain it. I'll keep it before I give it away.

But didn't know the person who buys me out affects me. They have to be approved for the loan by the mortgage company too. I should walk away as that would be their client, not mine. Just going with the flow. As long as it doesn't cost me money, it's a asset!
Oh, if it's legitimately an assumable mortgage then no it's all on the lender. I thought you mean you were willing to owner finance it yourself, then you would carry the risk. But yes, if you qualify as an assumable mortgage then the person would need to be vetted & approved by the lender and make it their primary residence for at least 1 year(unless your lender requires longer).