Frequently Asked Questions

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An assumable loan allows a buyer to purchase a home by taking over the seller’s mortgage. The buyer simply assumes the existing loan terms (including interest rate and remaining payments) without the need to apply for, or obtain, a new mortgage. Not all home loans are assumable. Generally speaking, all loans guaranteed by the Department of Veteran Affairs (VA), the Federal Housing Administration (FHA), and U.S. Department of Agriculture (USDA) are assumable. Conventional loans are generally NOT assumable.

No. Unlike applying for a new VA loan, assuming an existing VA loan does NOT require having any military service or affiliation with the Department of Veteran Affairs. If a buyer has VA eligibility, that buyer can substitute their VA eligibility with the seller’s which subsequently releases the seller’s entitlement for future use. If the buyer does not have VA eligibility the seller’s entitlement remains tied to the home until the new buyer either sells the property or refinances out of the VA loan. For more information, please see this article.

The Department of Veteran Affairs charges a flat assumption fee of 0.5% of the remaining loan balance. This fee goes directly to the VA and helps keep the loan program running for future generations of military buyers. Any buyer who is exempt from paying the VA funding fee is also exempt from paying the 0.5% assumption fee. The assumption fee cannot be rolling into the mortgage like a standard funding fee on a new VA loan; it must be paid at closing.

Yes! AssumeList™ maintains the largest network of experienced agents to help you find and purchase a home with an assumable mortgage.

Simply stated, we are a team of nationwide licensed experts with unparalleled experience in assumable mortgages. Our partner agents guide buyers through the entire homebuying process: from finding a home, to submitting offers, to obtaining assumption approval from servicers, all the way through closing. We get the job done!

Absolutely nothing! We don’t charge 1% of the purchase price…we don’t charge a nickel. A modest subscription fee is all we ever ask from our users, and that’s only if you want to perform your own searches. And if you work with one of our partner agents for your purchase, we’ll REFUND your subscription fee!

AssumeList™ is purpose-built to save you money. AssumeList™ is a first of its kind tool that offers homebuyers and real estate agents the ability to search for and specifically locate homes with assumable loans. If saving money is something you value, then AssumeList™ will help you find homes that possess below market interest rates. In fact, 100% of homes in the AssumeList™ database possess an interest rate below 5% — with the majority of homes having an interest rate at or below 3%!!!

No. AssumeList™ is available to the general public with the option to subscribe to different tiers of service depending on the user’s needs and information they find useful.

There are no contracts or setup fees. You can switch your plan or cancel your AssumeList™ subscription at any time.

We are working tirelessly to add assumable home data to as many regions as possible. For a complete list of states, counties, and cities currently served, please see our Areas Served page. Additional locations are added as we continue to expand our service!

The Pro tier offers more useful information when researching and identifying the best homes with assumable loans. Specifically, the Pro plan provides approximate loan balance, interest rate, and current mortgage payment and even down payment requirements (a.k.a. cash gap) that helps to determine whether a particular home is viable for assumption. To learn more about how to assume a home loan or the mechanics involved, read this blog article titled How to Assume a VA Loan in 5 Easy Steps.

Loan balance is an estimate, however it is deemed fairly reliable. In most cases the actual loan balance will be slightly lower than what is shown. Interest rates reported by AssumeList™ are generally accurate to within +/- 0.25% of a home’s actual mortgage rate. A home’s actual rate may vary depending on the owner’s credit score or if points were paid to buy the rate down at the time of purchase.

All active duty, retirees, and veterans, whether individuals or agents, are eligible for a 10% discount off a monthly or annual subscription. We partnered with SheerID perform an identity verification which provides a unique one-time discount code for use during checkout. Please see our military discount page complete the verification process. A military discount cannot be combined with other promotional offers.

If you purchased one of our subscriptions, but AssumeList™ is not what you expected, let us know within 7 days and we’ll give you a full refund. No ifs, no buts, no hassle – we only ask for your feedback on how we can make AssumeList™ better.

AssumeList™ does not issue refunds in general. For monthly subscriptions, you can request for a refund within the 7-day money back guarantee period. For annual subscribers you may request a refund if you haven’t used the service, but we may decline your request if we see any material activity within your account.

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