Enter Zip, City, or County... i.e. orange,NY or 90019
Search Method:    regular time edocs

Resources > Glossary > Assumption Fee

Glossary of Notary Public, Mortgage, Signing Agent, and Loan Signing Terms.

0-9  [A]  B  C  D  E  F  G  H  I  J  K  L  M  N  O  P  Q  R  S  T  U  V  W  X  Y  Z  
Common Terms 1   Common Terms 2

Assumption Fee

Function: noun

Definition 1:
The assumption fee is a fee paid to a lender resulting from the assumption of an existing mortgage. The fee is generally paid by the purchaser. Since all loans have a variety of fees, it might be very favorable to the new buyer to pay an assumption fee rather than a host of other fees involved in a new mortgage.

Thesaurus / Related Terms
Assumption Clause
Assumable Mortgage