<p>Significant savings are available to home buyers who assume a mortgage. Rather than applying for a new loan, take over the remaining payment terms and interest rate of the sellers "existing mortgage". A mortgage assumption is less costly for consumers and takes approximately<span style="color: green; font-size: 16px; font-weight: 600;">&nbsp;45</span>&nbsp;days to process&nbsp;<a href="https://www.hud.gov/sites/documents/4155-1_7.PDF" target="_blank" rel="noopener">(see HUD 4155 pdf)</a>.</p>