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First, when sufficient market data does not exist to allow extraction of an adjustment for favorable assumable financing by direct market comparison, how does an appraiser calculate a satisfactory mathematical adjustment?
875 million, 10-year assumable mortgage at an interest rate of 5.
This rate is assumable upon resale to another "first-time home buyer" household as long as the sales price and the income of the household are within the program limits at the time of resale.
This offering includes an assumable first mortgage and possible seller financing, resulting in a higher than usual 'going-in' return.
This first mortgage is also assumable and the Lender required no reserves.