Frequently Asked Questions About Assumable Mortgages

Navigating the complexities of mortgage assumptions isn’t always easy. At Assumption Solutions, we provide clarity and guidance to make your home loan assumption process seamless. Browse our FAQs to find answers below.
What is an assumable mortgage?

An assumable mortgage allows a home buyer to take over the seller’s home loan at the same interest rate, repayment period, balance, and other terms.

Essentially, it’s the same exact loan — now just in your name.

A mortgage assumption is the process of transferring an existing mortgage from the property seller to the buyer, who takes over responsibility for the original loan.
Assumable home loans can be attractive to home buyers, especially if the loan has a lower interest rate than the current market rate.
Not all mortgages can be assumed. Typically, only government-backed loans, such as FHA loans, VA loans, and USDA loans, are assumable.
No, anyone can assume a VA loan, so long as they qualify! Veteran-to-non-veteran assumptions happen often, and the VA entitlement used by the original borrower will remain tied to the loan until it’s paid off.

No, in most cases, you cannot assume a conventional loan. Conventional loans often carry a strict due-on-sale clause in their contracts, meaning if the homeowner sells the property, the remaining balance of the mortgage is due immediately.

Like any loan, you’ll have to qualify with the loan servicer and meet their requirements to secure your home loan. Assumption Solutions is NOT a lender. However, we can easily facilitate and assist in the transfer process between a home buyer and seller of an assumable loan!

How do you assume a loan?

The loan assumption process can be tedious and complicated. Usually, it involves completing the necessary paperwork, obtaining loan servicer approval, and finalizing the assumption through a closing.


Assumption Solutions provides guidance and assistance in this process. That means we’ll help you complete the loan assumption so you or your real estate agent don’t have to figure out the process.

Government guidelines say home loan assumptions should be completed within 45 days of a complete submission, but these are just guidelines. Your assumption can take anywhere between 45/60 days on the fast end and 120+ days on the slow end.

Being turned down by a lender can be a huge disappointment, but it can happen. Assumption Solutions’ first task is to vet the transaction and determine if we see a high likelihood of assumption success. Because of this, loan assumptions with Assumption Solutions very rarely get denied.

As a seller, you want to sell your home for top dollar. Assumable mortgages can make your property that much more attractive to buyers, especially if the home loan has a lower-than-market interest rate.

Therefore, the lower monthly payments make your home desirable to a large pool of buyers wanting to buy the property. This may result in higher offers or a quicker sale time.

Home buyers can significantly benefit from lower interest rates and monthly payments on an assumable mortgage!

When working with a firm like Assumption Solutions, you get hands-on support and honest insight from assumable loan experts wanting the very best for you.

Sellers and buyers benefit from our efficiency and swift support. Our team vets the file upfront to ensure its likely approval with the lender, saving you weeks or months of delay. You also get assistance in the file submission which if done wrong can cause significant delays. Your file will be vetted and verified by an expert, with no complications.

Working with our team is incredibly affordable and low-risk for buyers and sellers! The engagement fee is $50 to buyer side and seller side. If your loan assumption is approved, we’ll collect $700 from the buyer and seller each.  Totalling $750 per transaction side.

If your file isn’t approved, you won’t be charged the $700.

Start Your Easy Mortgage Assumption Process

Still have questions? Our expert team is here to help. Get in touch today to learn more about your home loan assumption, and we’ll take care of the rest.