Calculate your potential savings with assumable mortgages. Take over an existing loan and save thousands in interest.
Calculate Your SavingsCompare your current loan with an assumable loan to see potential savings
Why assumable loans are becoming popular again
Save thousands in interest by assuming a loan with a lower rate than you could get today.
Assuming a loan is typically faster than applying for a new mortgage.
Assumable loans often have lower closing costs compared to traditional mortgages.
Everything you need to know about assumable loans
An assumable loan allows a buyer to take over the seller's existing mortgage. The buyer assumes responsibility for the remaining loan balance and continues making payments to the original lender.
The main benefits include potentially lower interest rates than current market rates, reduced closing costs, and a faster transaction process. You can also save thousands in interest over the life of the loan.
No, most conventional loans are not assumable. However, FHA, VA, and USDA loans are typically assumable. The lender must approve the assumption, and the buyer must qualify for the loan.
Our calculator compares your current loan with an assumable loan based on the inputs you provide. It calculates monthly payments, total interest costs, and potential savings over the life of the loan.