FHA & VA
Mortgage Loan Assumption Experts
Why Choose Us?
Low rate + reduced loan term = SAVINGS
Quick turn around and stress free - we handle it all for you!
In today’s high interest rate market, buyers are looking for smart ways to save. With loan assumptions, buyers can take over a seller’s low-interest FHA or VA mortgage — often saving hundreds every month.
At Assumption Pros, we make the process seamless. We partner with buyers, sellers, real estate professionals, and title companies to ensure every assumption is handled correctly, quickly, and with confidence.
Frequently Asked Questions
General Questions
What is a loan assumption?
A loan assumption is when a qualified buyer takes over the seller’s existing mortgage, including the interest rate, balance, and terms.
What types of loans can be assumed?
FHA, and VA loans are typically assumable. Conventional loans are usually not assumable unless specified by the lender.
Why would someone want to assume a loan?
To take advantage of a lower interest rate, avoid closing costs associated with a new mortgage, or simplify the buying process.
How do I start the loan assumption process?
Contact us to schedule an initial feasibility assessment. We’ll determine if the loan is assumable and outline the next steps.
What makes your company different from a mortgage broker?
We specialize exclusively in loan assumptions and handle the entire process — from feasibility, paperwork, lender communication, to escrow coordination — maximizing your approval chances. Lenders are often slow and unresponsive; we are the liaison between buyer and lender and have the knowledge and experience to get the process completed in a timely manner.
For Buyers
How do I know if I qualify to assume a loan?
Buyers must meet the lender’s credit, income, and debt-to-income requirements. We guide you through the qualification process. But you can qualify for higher sale price with the lower rate assumed loan.
What costs are involved in assuming a loan?
Costs can include an assumption fee, credit report fee, escrow/title fees, and any required down payment or equity contribution.
Will assuming a loan affect my credit score?
Yes, the new loan will appear on your credit report. Timely payments can help build credit, but late payments can negatively impact it.
How long does the assumption process take?
Typically 30–40 days, depending on the lender and the complexity of the file.
Do I get a lower interest rate by assuming a loan?
You take over the seller’s existing rate, which may be lower than current market rates.
Is a down payment required?
If there’s a difference between the home value and remaining loan balance (i.e., the seller’s equity), the buyer needs to pay the seller. You can use savings, 401K funds/loan or new 2nd mortgage or line of credit for the down payment required. Seller financed carrybacks also allowed.
Do I need an attorney or title company?
Yes. Escrow and title are required to record the assumption and transfer property ownership properly.
What documents are required for the assumption?
Credit report, income verification, mortgage statement, loan documents, and any VA/FHA/USDA-specific forms.
For Sellers
Why should a seller offer their mortgage for assumption?
Attracts more buyers: Offering a lower, locked-in rate can make a home more attractive to a wider pool of buyers in a high-interest-rate environment.
Higher sale price: A seller may be able to negotiate a higher sale price because the buyer saves money on interest over the life of the loan.
Reduced closing costs: The overall closing costs associated with a loan assumption are often lower than those for a new mortgage.
Do I need to pay off my mortgage before selling?
Not if the buyer assumes your loan and the lender approves the assumption – you must be current on a VA guaranteed loan at the time of assumption. Sellers should always request a release of liability from the lender.
Is seller Released of Liability: Yes, Sellers should always request a release of liability from the lender once assumption is approved and recorded.
For Real Estate Professionals
What role does the real estate agent play?
The agent still manages the purchase and sale process, but works alongside the escrow/title company and the lender to ensure assumption approval. The purchase contract should clearly state the loan assumption terms.
Is a purchase and sale agreement required?
Yes. Just like a standard transaction, the assumption requires a purchase and sale contract between buyer and seller outlining price, loan assumption details, and contingencies.
How long does the loan assumption process take?
On average, 30–4o days. This timeline depends on the lender’s review of the buyer’s credit, income, and eligibility.
What are the costs involved?
Recording fees, Escrow, title fees
Lender assumption fees, credit report fee
Potential processing/consulting fees (if using a loan assumption specialist) and any required down payment or equity contribution.