Common use of Mortgage Assumption Clause in Contracts

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

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

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