Hi Ronald, Christine, and Michele - Thanks for finding my blog.  I am still fairly new to the Active Rain group so I appreciate you reading what I wrote.  

I started selling a long long time ago (thus the black and white pictures - to hide my wrinkles :)), and we were trained to qualify buyers on our own.  Back then, we had to learn how to work with negative amortization.  I still have my handy dandy TI calculator - never did switch to HPs since I learned the Texas Instrument calculator so well. I remember one buyer's interest rate was 21%.  Looking back at the rates, there must have been something else to that buyer's loan because the rates on the charts seem to only go up to 16%.  But in Texas, I know rates were higher.  

Then... when rates were in single digits, that was wonderful.  Last year, we refinanced our home at an interest rate below 3%.  I talked to our lender friend recently asking him if the rates were any lower to refinance again, and jokingly, he replied... "I'll call you when they hit 1%."  I guess we got a great deal.  

Anyways, I have not heard of any assumable loans lately.  Used to, we did so many.  I will have to check that out.  Thanks again for y'all's comments!