With an assumable mortgage,the buyer generally pays a down payment equal to the seller's equity in the home.

Name: With an assumable mortgage,the buyer generally pays a down payment equal to the seller's equity in the home.
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In an assumable mortgage, the buyer takes over the seller's existing mortgage and typically pays a down payment to cover the difference between the mortgage balance and the home's purchase price, which essentially equals the seller's equity in the home.

With an Assumable Mortgage,the Buyer Generally Pays a Down Payment