Assumable mtg

I searched the posts, and as far as I can tell, for someone to pull it off the buyer needs the difference between what I the seller owe on the mortgage, and my asking price, I get that right?

I have a rental at 3.375% to sell for $300k, but I only owe ~$70k. So for someone to take it over they need $230k down?

submitted by /u/hortoristic
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source https://www.reddit.com/r/RealEstate/comments/1bovhdm/assumable_mtg/