StepStone will perform a financial analysis of the property, review the loan documents, and create a complete assumption package for submittal to servicers and/or other approval parties. We will act as the single point of communication between the buyer, seller, and servicer; and we provide the experience to make the assumption process more efficient, expeditious, and cost effective. Benefits and features of a loan assumption:

	Existing assumable debt will drive value of property
	Terms of existing mortgage (with more favorable terms than the current market) can be extended to a potential buyer
	Seller’s liability is released upon assumption of the loan
	A loan assumption costs significantly less than new financing and eliminates the expense of defeasance or prepayment costs