Common use of Mortgage Assumption Clause in Contracts

Mortgage Assumption. Buyer will take title subject to and assume and pay existing first mortgage to ________________________ LN# ______________________________________in the approximate amount of $_______________ currently payable at $________________ per month including principal, interest, [ ] taxes and insurance and have a [ ] fixed [ ] other (describe) ____________________________________ interest rate of ________% which [ ] will [ ] will not escalate upon assumption. Any variance in the mortgage will be adjusted in the balance due at closing with no adjustment to purchase price. Buyer will purchase Seller's escrow account dollar for dollar. If the lender disapproves Buyer, or the interest rate upon transfer exceeds ____% or the assumption/transfer fee exceeds $___________, either party may elect to pay the excess, failing which this agreement will terminate and Buyer's deposit(s) will be returned.

Mortgage Assumption. Buyer will take title subject to and assume and pay existing first mortgage to _________________________ LN# _______________________________________ in the approximate amount of $_______________ currently payable at $________________ per month including principal, interest, [ ] taxes and insurance and have a [ ] fixed [ ] other (describe) ____________________________________ interest rate of ________% which [ ] will [ ] will not escalate upon assumption. Any variance in the mortgage will be adjusted in the balance due at closing with no adjustment to purchase price. Buyer will purchase Seller's escrow account dollar for dollar. If the lender disapproves Buyer, or the interest rate upon transfer exceeds ____% or the assumption/transfer fee exceeds $___________, either party may elect to pay the excess, failing which this agreement will terminate and Buyer's deposit(s) will be returned.

Mortgage Assumption. Buyer will take title subject to and assume and pay existing first mortgage to ________________________ LN# _______________________________________ in the approximate amount of $_________________ currently payable at $________________ per month including principal, interest, [ ] taxes and insurance and have a [ ] fixed [ ] other (describe) )______________________________________________ interest rate of ________% which [ ] will [ ] will not escalate upon assumption. Any variance in the mortgage will be adjusted in the balance due at closing with no adjustment to purchase price. Buyer will purchase Seller's escrow account dollar for dollar. If the lender disapproves Buyer, or the interest rate upon transfer exceeds ____% or the assumption/transfer fee exceeds $___________, either party may elect to pay the excess, failing which this agreement will terminate and Buyer's deposit(s) will be returned.

Mortgage Assumption. Buyer will take title subject to and assume and pay existing first mortgage to _________________________ LN# _______________________________________ in the approximate amount of $_______________ currently payable at $________________ per month including principal, interest, [ ] taxes and insurance and have a [ ] fixed [ ] other (describe) ____________________________________ interest rate of ________% which [ ] will [ ] will not escalate upon assumption. Any variance in the mortgage will be adjusted in the balance due at closing with no adjustment to purchase price. Buyer will purchase Seller's escrow account dollar for dollar. If the lender disapproves Buyer, or the interest rate upon transfer exceeds ____% or the assumption/transfer fee exceeds $___________, either party may elect to pay the excess, failing which this agreement will terminate and Buyer's deposit(s) will be returned.

Mortgage Assumption. Buyer will take title subject to and assume and pay existing first mortgage to ________________________ LN# ______________________________________in the approximate amount of $_______________ currently payable at $________________ per month including principal, interest, [ ] taxes and insurance and have a [ ] fixed [ ] other (describe) ______________________________________________ interest rate of ________% which [ ] will [ ] will not escalate upon assumption. Any variance in the mortgage will be adjusted in the balance due at closing with no adjustment to purchase price. Buyer will purchase Seller's escrow account dollar for dollar. If the lender disapproves Buyer, or the interest rate upon transfer exceeds ____% or the assumption/transfer fee exceeds $___________, either party may elect to pay the excess, failing which this agreement will terminate and BuyerXxxxx's deposit(s) will be returned.

Mortgage Assumption. Buyer will take title subject to and assume and pay existing first mortgage to ________LN#________________ LN# ______________________________________in the approximate amount of $___________________ currently payable at $________________ per month including principal, interest, [ ] taxes and insurance and have having a [ ] ]fixed [ ] ]other (describe) __________________________________________________________________ interest rate of ________% which [ ] ]will [ ] ]will not escalate upon assumption. Any variance in the mortgage will be adjusted in the balance due at closing with no adjustment adjustments to purchase price. Buyer BUYER will purchase Seller's SELLER'S escrow account dollar for dollar. If the lender disapproves BuyerBUYER, or the interest rate upon transfer exceeds _____ % or the assumption/transfer fee exceeds $____________, either party may elect to pay the excess, failing which this agreement will terminate and Buyer's BUYER'S deposit(s) will be returned.

Mortgage Assumption. Buyer will take title subject to and assume and pay existing first mortgage to ________________________ LNLN # _______________________________________ in the approximate amount of $_______________ currently payable at $________________ per month including principal, interest, [ ] taxes and insurance and have a [ ] fixed [ ] other (describe) ____________________________________ interest rate of currently payable at per month including principal, interest, 1-11 taxes and insurance and having a fixed ci other (describe)____________________________ interest rate of % which [ ] 0 will [ ] o will not escalate upon assumption. Any variance in the mortgage will be adjusted in the balance due at closing with no adjustment to purchase price. Buyer will purchase Seller's ’s escrow account dollar for dollar. If if the lender disapproves Buyer, or the interest rate upon transfer exceeds ____% or the assumption/transfer fee exceeds $__________________ % or the assumption/transfer fee exceeds $_ , either party may elect to pay the excess, failing which this agreement will terminate and Buyer's ’s deposit(s) will be returned.

Mortgage Assumption. Buyer will take title subject to and assume and pay existing first mortgage to ________________________ LN# _______________________________________ in the approximate amount of $_______________ currently payable at $________________ per month including principal, interest, [ ] taxes and insurance and have a [ ] fixed [ ] other (describe) ____________________________________ interest rate of ________% which [ ] will [ ] will not escalate upon assumption. Any variance in the mortgage will be adjusted in the balance due at closing with no adjustment to purchase price. Buyer will purchase Seller's escrow account dollar for dollar. If the lender disapproves Buyer, or the interest rate upon transfer exceeds ____% or the assumption/transfer fee exceeds $___________, either party may elect to pay the excess, failing which this agreement will terminate and Buyer's deposit(s) will be returned.

Mortgage Assumption. Buyer will take title subject to and assume and pay existing first mortgage to ________________________ LN# _______________________________________ in the approximate amount of $_______________ currently payable at $________________ per month including principal, interest, [ ] taxes and insurance and have a [ ] fixed [ ] other (describe) ____________________________________ interest rate of ________% which [ ] will [ ] will not escalate upon assumption. Any variance in the mortgage will be adjusted in the balance due at closing with no adjustment to purchase price. Buyer will purchase Seller's escrow account dollar for dollar. If the lender disapproves Buyer, or the interest rate upon transfer exceeds ____% or the assumption/transfer fee exceeds $___________, either party may elect to pay the excess, failing which this agreement will terminate and Buyer's deposit(s) will be returned.