Can I assume the seller's low-rate mortgage on a Woodstock condo or house?

Assuming a seller's mortgage is possible in Woodstock only when the loan itself is assumable, which mainly applies to certain FHA and VA loans rather than most conventional mortgages. Joel Boss checks the loan type early when a buyer is interested in this route, since it can save real money over originating a new mortgage at current rates. The lender still has to approve the buyer taking over the loan before it becomes part of the offer.