Complete Guide to Assumable Loans
Learn everything about assumable loans, how they work, and when they make sense for your situation.
Read GuideFHA Loan Assumptions
Everything you need to know about assuming FHA loans and the requirements.
Read MoreVA Loan Assumptions
How veterans can benefit from assumable VA loans and the process involved.
Read MoreAssumable vs Traditional Loans
Compare assumable loans with traditional mortgages to see which is right for you.
View ComparisonFinancial Planning for Homebuyers
Essential financial planning tips for first-time homebuyers and experienced investors.
Read GuideFrequently Asked Questions
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.
Savings depend on the difference between the assumable loan rate and current market rates. Our calculator can help you estimate potential savings based on your specific situation.
You must qualify for the loan just as you would with a new mortgage. The lender will review your credit, income, and debt-to-income ratio. You'll also need to pay closing costs, though typically less than a new loan.
Assuming a loan requires you to qualify just like a new mortgage. If you have poor credit, you may not qualify for the assumption. It's best to check your credit and work on improving it before pursuing an assumable loan.
No, assumable loans are available to anyone who qualifies. They can be especially beneficial for investors looking to purchase properties with existing assumable loans.