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ASSUMABLE LOANS

Sell Assumable Loan.Com

Selling an Assumable Home Loan allows a Buyer to take over, or "assume," the Seller's existing low-interest rate loan under the same terms, interest rate and remaining balance.

Win for Sellers

  • Increased Marketability: Makes the property more attractive to buyers, especially if the mortgage has a lower interest rate than current market rates.

  • Potential for Faster Sale: Buyers may be more willing to move forward quickly due to favorable loan terms.

  • Reduced Closing Costs: Assumable mortgages often have lower closing costs compared to new loans, appealing to buyers.

  • Broader Buyer Pool: Attracts buyers who might otherwise be deterred by higher financing costs.

  • Smooth Transition: Streamlines the sales process by allowing the buyer to step into the existing mortgage agreement.

Win for Buyers

  • Lower Interest Rates: Buyers can benefit from the seller's existing lower interest rate if market rates are higher.

  • Reduced Monthly Payments: Lower interest rates often 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 fixed rate, if applicable.

  • Shorter Loan Term: Buyer takes over remaining term of loan, typically 27 years or less.

  • Potential Equity Opportunity: Allows buyers to leverage the seller's equity, which might lead to reduced overall borrowing costs.

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