Shopping for a mortgage? Before going the ordinary route, take some time to consider an FHA loan, which comes with a benefit that can be especially appealing at a time of rising interest rates: assumability.
In other words, when it comes time to sell your home, a potential buyer may qualify to simply take over your mortgage at today’s relatively low interest rate rather than resorting to a new loan, minimizing your buyer’s monthly payment. That could be a strong selling point if, at that time, new mortgages charged more. Assumability could make it easier to find a buyer, and perhaps to get a higher sales price.