This is a sample Loan Assumption Addendum. This Addendum is attached to and made a part of the Offer to Purchase and Contract (“Contract”) between Seller and Buyer for the. Property. The form may be customized to suit your needs.
Yes, you will need to share your financial info with the lender. They want to ensure you can handle the payments. Think of it like applying for a club membership; they want to make sure you fit the criteria!