Assumable Blog

Assumable Mortgage 101

New to assumable mortgages? Learn how loan assumption works, who qualifies, what it costs and how buyers keep a seller's low rate on FHA, VA and USDA loans.

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Fresh rate data, market news and how-tos.

The Benefits of Assumable Mortgages

Save Thousands a Month and Get The Home of Your Dreams With Assumable Mortgages

May 23, 2022

5 min Read

Ryan Carrillo

Assumable calculator

How much could an assumable loan save you?

Enter the home price, the seller's loan balance, rate and remaining term to see your monthly payment, total interest and the equity gap you'll need to cover.

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Home you're interested in assuming

Example

Home sale price

$500,000

Mortgage balance

$350,000

Existing rate

2.5%

Remaining term

25 years

Monthly payment

$1,570

Total interest

$121,048

Equity gap

$150,000

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