when current interest rates are higher than an existing mortgage s rates assuming a loan may be the favorable option also there are not as many costs due at closing on the other hand if the seller has a considerable amount of equity in the home the buyer will either have to pay a large down payment or secure a second mortgage for the balance not covered by the existing mortgage 
the bottom linean assumable mortgage may be attractive to buyers when current mortgage rates are high and because closing costs are considerably lower than those associated with traditional mortgages however if the owner has a lot of equity in the home the buyer may need to pay a substantial down payment or secure a new loan for the difference in the sale price and the existing mortgage also not all loans are assumable and if so the buyer must still qualify with the agency and lender if the benefits outweigh the risks an assumable mortgage might be a good option for homeownership 