Posted by Keith (AL) on October 31, 2000 at 13:27:45:
I don’t think so. If you refinance the loan you’re getting a NEW loan (new interest rate, closing costs, etc.). By assuming the loan you are assuming the EXISTING loan (same interest rate, no closing costs except lender assumption fee, same number of remaining payments, etc.). It is MUCH cheaper to assume the loan than to refinance the loan. Hope this helps.