Assumable Mortgage Scotia

  • adamjennshows

    Status: REIN™ Member

    Posts: 21
    Joined: 11 Sep 2007
    From:

     Hello,

    I am looking for someone who may be able to provide me a contact at Scotia Bank to discuss an assumable mortgage in Alberta. I have an offer on a property and we would like to assume the existing mortgage. We understand that we would need to qualify but the contact I am working with at Scotia says that if we are going to use it as a rental property we cannot assume the mortgage. It is a CMHC insured mortgage. I would like to confirm if this is in fact the case or if this assumption is in fact possible with qualification. If you have experience with this or know a person at Scotia that may be able to assist it would be greatly appreciated.

    Regards,

    Adam Bashow
    Adam & Jenn Bashow
    Real Estate Investors
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