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Assumability |
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Assumability |
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The Guaranteed Rural Housing Loan is assumable subject to the following conditions:
| • | Subject property and applicant(s) must meet all criteria for the Rural |
| • | Development Guaranteed Housing Program. |
| • | Applicant (buyer) must be credit-approved by GMG. |
| • | In accordance with Rural Development (FmHA) Instruction 1980-D, no release of liability will be granted to the original Borrower(s). |
| • | A new title policy will be required at closing. |
| • | Normal application, processing, and transfer fees will apply. |