CalculatorMortgage Take Over (Cost/Benefit)

This program is used to calculate the Cost or Benefit to a buyer who is taking over the Seller's mortgage at an interest rate that is either higher or lower than the current interest rate for a similar mortgage.


What would be the financial cost to the purchaser for assuming the Seller's first mortgage with a Current Outstanding Balance of $144,872.84 mortgage, with monthly payments of $1,144.83 for the remaining 3 years and 7 months of the term, and a maturing balance of $138,203.25? The current market rate for a similar mortgage is 6.25%.


The cost to the buyer for assuming the seller’s mortgage is $9,668.48