Frequently Asked Questions

UMe Projects is your pathway to economical home ownership. We guide prospective homeowners to acquire their ideal residence with an inclusive low-interest mortgage.

An assumable mortgage is a home financing option where the buyer takes over the seller's existing mortgage terms. This can be highly beneficial, often leading to lower monthly payments. Certain government-backed loans like FHA and VA loans are assumable, and many are available.

While final approval comes from the current mortgage servicer, UMe Projects will assist in handling communication to ensure a smooth assumption process. Generally, if you qualify for an FHA mortgage, you should also be eligible to assume one.

Once you register, our team will reach out to you and curate a list of properties with low-rate assumable mortgages that match your needs.

In times of high interest rates, taking over an existing mortgage with a rate as low as 2% can result in significant savings. An assumable mortgage allows you to secure your dream home without overpaying on interest.

UMe Projects charges 1% of the home's sale price, paid by the buyer at closing. Our team takes care of everything—matching you with the right properties, handling paperwork, and connecting you with lenders if necessary. No cost or obligation to browse listings!

Yes. Buyers must cover the seller’s equity, which is the difference between the sale price and the remaining mortgage balance. This can be paid in cash or through a secondary mortgage. UMe Projects can connect you with lenders for financing options.

FHA and VA loans are assumable by default. UMe Projects specializes in assisting buyers with assuming these types of loans.