Assume the Rate: How to Buy a Home with a Low-Rate Assumable Mortgage
A free 45-minute Zoom class for homebuyers
Thursday, November 12 · 3:00 PM Pacific · Live on Zoom · Free
Can't make it live? Register anyway. Everyone who signs up gets the recording.
What's an assumable mortgage?
Some home loans can be passed from the seller to the buyer. When you "assume" a mortgage, you take over the seller's existing loan, including its interest rate, remaining balance and remaining term, instead of starting a brand-new loan at today's rates.
For a seller who locked in a low rate a few years ago, that can mean a noticeably lower monthly payment for the buyer. Most FHA, VA and USDA loans are assumable with lender approval. Most conventional loans are not.
It isn't a shortcut, though. You still have to qualify with the seller's lender, and you'll usually need to cover the gap between the purchase price and the loan balance. That's exactly what this class walks through.
What you'll learn
In 45 minutes, you'll learn:
-
How assumable loans work: which loan types qualify and what "assuming" actually means
-
How to find homes with assumable loans: where to look and what to ask
-
The equity gap: how to cover the difference between the price and the loan balance, with cash or a second loan
-
Qualifying: what the lender looks at and how it differs from a regular mortgage
-
The timeline: why assumptions usually take longer to close than a typical purchase, and how to plan for it
-
Real numbers: a side-by-side payment comparison, assumed rate vs. today's rate
-
Live Q&A: bring your questions
Who it's for
Who should attend:
This class is for homebuyers who want a lower monthly payment and want to know whether an assumable loan could get them there, whether you're just starting to look or ready to make an offer. No prior knowledge needed.
Sign-up form
Save your seat (it's free)
Register below and I'll email you the Zoom link before class. Can't attend live? You'll get the recording.