Given current rates is this good?

Question

I am closing on 8/28 and my interest rate is 5.375%~ my APR is 5.863%.. The loan amount is $149,050 (I am in Texas). The lower interest rate allowed me to get "more house" and remain in my comfort zone in regards to my monthly payment I desire. How will this matter when I go to resell? Will it?

Answer 1

It almost definitely won't.  Most mortgages nowadays are non-assumable.  Assuming your mortgage is like most, it won't have any effect on the buyer nor your resale.

Answer 2

Yes I would do it.  An assumption is a GOOD thing for you, not a bad thing thats why most lenders don't do them.  I highly doubt it is assumable though, you might have read something wrong.  If you needed to sell your home in the future and rates skyrocketed you could allow the buyer to assume your loan and still pay you more than what you owed you would have one of the most valuable pieces of real estate around.  Imagine if the rates went up to 11% but you could offer a buyer a 5.375% thats excellent.  I think the guy above me doesn't know what he is talking about : (