Unlocking Homeownership: How Assumable Mortgages are Changing the Game for Atlanta Buyers

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During the pandemic-era home buying spree, Anslie and Stephen Spitler faced fierce competition in the Atlanta housing market, eventually purchasing a home in Lawrenceville. As interest rates soared, they discovered the option of assumable mortgages, which allowed them to take over a seller's existing low-rate mortgage, facilitating their relocation to a larger home in Hoschton in the summer of 2024. While this financing method has become more popular, it poses challenges such as needing a substantial down payment and navigating a complex process that can lead to delays, highlighting the ongoing affordability issues in the Atlanta area.