Assumable Loans

Sell Assumable Loan.Com

Sell Your Home + Your Loan

Attract Higher Offers & Spark Buyer Competition

Selling an Assumable Home Loan allows a Buyer to take over, or "assume," the Seller's existing low-interest rate mortgage.

Win for Sellers

Receive Higher Offers: Buyers can afford to offer more, thanks to Seller's low-payment assumable home loan.
More Buyers Qualify: Increase the competition, driving up the sales price.
Faster Offers: Buyers will act quickly to make offers -- due to favorable loan terms.
Enhanced Marketability: Makes the property more attractive to buyers.
Broader Buyer Pool: Attracts buyers who might otherwise be deterred by higher financing costs.
Seller Released of Liability: A Novation Assumption releases Seller from all future liability of the loan. FHA Form. VA Form.

Win for Buyers

Buy a Larger Home or in a Better Neighborhood with the same monthly payment.
Increased Purchasing Power: Make stronger offers, get better terms, and more options.
Lower Interest Rates: Buyers can benefit from the seller's existing lower interest rate.
Reduced Monthly Payments: Lower interest rates mean lower monthly payments compared to a new mortgage at current rates.
Predictable Terms: Provides certainty with established loan terms, including the remaining balance and typically fixed rates.
Shorter Loan Term: Buyer assumes the remaining term, usually 27 years or less, saving thousands $$$ in interest.

Call / Text Roger: (760) 383-1293

Email Roger@KaiserFinance.com

Monthly Payment Interest Rate Max Mortgage / Loan

$ 1,900 6% Market Rate $317,000

$ 1,900 3% Assumable Rate $450,000

A Buyer with a budget of $1,900 monthly (principal & interest) can only afford a $317,000 loan at a 6% interest rate. However, a Sellers 3% assumable loan, with the same $1,900 monthly payment, could allow a Buyer to qualify for the Sellers remaining $450,000 loan -- making the Sellers home far more affordable and appealing to more Buyers.

Marketing a Sellers 3% assumable loan can dramatically increase activity from more qualified buyers and generate higher offers.

EXAMPLE - Assumable Loan

CRITERIA - Assumable Loan

Primary Residence: These loans are assumable for owner-occupants.
580+ Buyer FICO Score: Minimum Fico Score to qualify.
43% Debt to Income Ratio: Total Housing expenses not to exceed 43% of Gross Household income.
No Appraisal Required: Home can be sold "as is".
Seller Released from Future Liability: Novation Assumption removes all Seller Liability from loan.
Down Payment: Buyer responsible for difference between Sales Price and Assumed Loan Balance.
Closing Costs: Fees such as title, assumption, settlement, underwriting, processing still apply.
Secondary Financing: If needed, available up to 90% of Appraised value, which requires 680+ Fico.

PROCESS - Assumable Loan

Seller's Lender Eligibility Verification: Seller provides Authorization to verify Mortgage Balance, Rate, Remaining Term, and Eligibility for Novation Assumption.
Realtor Marketing in MLS: Listing Agent highlights benefits of Assumable Loan in MLS.
Buyer(s) Prequalified through Kaiser Finance: Buyers must meet Assumption Criteria
Buyer Documentation: Income, Asset, Credit and Identity documentation gathered.
Buyer Loan Package Submitted to Lender. Underwriting review, tracking and processing.
Assumption Approval from Sellers Lender. VA Assumptions must be completed within 45 days.
Closing: Settlement Agent coordinates Closing and signing of documents and collecting Buyer funds.
Seller Novation: Seller released of all future loan liability. FHA Form. VA Form.