Why do sub-3% assumable mortgages matter?

A loan with an interest rate far below current market rates matters because assuming it can save a buyer a meaningful amount on their monthly payment compared to originating a brand-new mortgage at today's rate. These older, low-rate loans became far more valuable once market rates climbed, which is why a home carrying one can draw extra buyer interest. The tradeoff is that the buyer must qualify with the existing lender and cover the gap between the loan balance and purchase price. Brian Beatty can flag Lowcountry listings that actually carry one of these assumable loans.