These calculators and the resulting calculations do not constitute a loan application, loan offer or loan approval.
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|When swapping existing mortgages will be paid off at closing. Since property swap involves party A buying a property from party B party A's mortgage will be paid off from party B's proceeds, while party B's mortgage will be paid off from party A's proceeds. Because most transactions are financed actual funds are coming from the mortgage companies, plus equity that either party had, (if any).|