financing question???

[plmorris23]

I hope this doesn't sound like a stupid question, is it possible to finance a down payment "and" assume an existing mortgage?

Thanks

[Aldo]

When listening to a stupid question, the only thing you'll hear is absolute silence. That's because the only stupid questions are the ones that aren't asked. The fact is that you asked an interesting question.

The answer much depends on the lender's underwriting policies. If the property will be a rental, you may have to come in with 20% of the purchase price. Some banks will allow half of that 20% to be borrowed money. There are some genuine financing pro's here who may be able to give you more precise info.