Common use of Mortgage Assumption Clause in Contracts

Mortgage Assumption. Buyer will take title subject to and assume and pay existing first mortgage to 80 LN# in the approximate amount of $ currently payable at 81 $ per month, including principal, interest, taxes and insurance, and having a 82 fixed other (describe) 83 interest rate of % which will will not escalate upon assumption. Any variance in the 84 mortgage will be adjusted in the balance due at closing with no adjustment to purchase price. Buyer will 85 purchase Seller's escrow account dollar for dollar. If the interest rate upon transfer exceeds % or 86 the assumption/transfer fee exceeds $ , either party may elect to pay the excess, 87 failing which this contract will terminate; and Buyer's deposit(s) will be returned. If the lender disapproves 88 Buyer, this contract 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 80 LN# in the approximate amount of $ currently payable at 81 $ per month, including principal, interest, taxes and insurance, and having a 82  fixed  other (describe) 83 interest rate of % which  will  will not escalate upon assumption. Any variance in the 84 mortgage will be adjusted in the balance due at closing with no adjustment to purchase price. Buyer will 85 purchase Seller's ’s escrow account dollar for dollar. If the interest rate upon transfer exceeds % or 86 the assumption/transfer fee exceeds $ , either party may elect to pay the excess, 87 failing which this contract will terminate; and Buyer's ’s deposit(s) will be returned. If the lender disapproves 88 Buyer, this contract 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 80 84 LN# in the approximate amount of $ currently payable at 81 85 $ per month, including principal, interest, 🞎 taxes and insurance, and having a 82 86 🞎 fixed 🞎 other (describe) 83 87 interest rate of % which 🞎 will 🞎 will not escalate upon assumption. Any variance in the 84 mortgage 88 will be adjusted in the balance due at closing with no adjustment to purchase price. Buyer will 85 purchase Seller's 89 Xxxxxx’s escrow account dollar for dollar. If the interest rate upon transfer exceeds % or 86 the 90 assumption/transfer fee exceeds $ , either party may elect to pay the excess, 87 failing 91 which this contract Contract will terminate; and Buyer's Xxxxx’s deposit(s) will be returned. If the lender disapproves 88 92 Buyer, this contract Contract will terminate; and Buyer's Xxxxx’s deposit(s) will be returned.

Mortgage Assumption. Buyer will take title subject to and assume and pay existing first mortgage to 80 84 LN# in the approximate amount of $ currently payable at 81 85 $ per month, including principal, interest, 🞎 taxes and insurance, and having a 82 86 🞎 fixed 🞎 other (describe) 83 87 interest rate of % which 🞎 will 🞎 will not escalate upon assumption. Any variance in the 84 mortgage 88 will be adjusted in the balance due at closing with no adjustment to purchase price. Buyer will 85 purchase 89 Seller's ’s escrow account dollar for dollar. If the interest rate upon transfer exceeds % or 86 the 90 assumption/transfer fee exceeds $ , either party may elect to pay the excess, 87 failing 91 which this contract Contract will terminate; and Buyer's ’s deposit(s) will be returned. If the lender disapproves 88 92 Buyer, this contract Contract 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 80 LN# in the approximate amount of $ currently payable at 81 $ per month, including principal, interest, taxes and insurance, and having a 82 fixed other (describe) 83 interest rate of % which will will not escalate upon assumption. Any variance in the 84 mortgage will be adjusted in the balance due at closing with no adjustment to purchase price. Buyer will 85 purchase Seller's escrow account dollar for dollar. If the interest rate upon transfer exceeds % or 86 the assumption/transfer fee exceeds $ , either party may elect to pay the excess, 87 failing which this contract will terminate; and BuyerXxxxx's deposit(s) will be returned. If the lender disapproves 88 Buyer, this contract will terminate; and BuyerXxxxx's deposit(s) will be returned.