Courtesy of Brian Sankey
- Brian Sankey, a retired military police officer, bought a Kentucky home with a 2.75% interest rate.
- The home had an assumable mortgage, which allows a buyer to take over a seller's existing rate.
- It was a win-win: sellers can list their home higher, and buyers enjoy much lower monthly payments.
This as-told-to essay is based on a conversation with Brian Sankey, 54, a retired military police officer, who bought a home in Kentucky with an assumable mortgage.