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What is FHA Assumption Rules

The key requirements for an FHA loan assumption are: 1. The original FHA loan application must have been signed before December 1, 1986 for the loan to be "freely assumable". For loans signed after that date, the lender's participation is required. 2. The person assuming the FHA loan must go through a credit check to ensure they are a qualified borrower, similar to the original mortgage approval process. 3. The original borrower will need to work with the lender to complete the loan assumption process. 4. The person assuming the FHA loan should prepare for the transaction like any home buyer, including reviewing their FICO scores, reducing debt-to-income ratios, and considering a home inspection.

How FHA Assumption Rules Actually Work Today

What Buyers Should Evaluate Before Assuming an FHA Loan

Find Homes With Assumable Mortgages

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