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All VA and FHA loans are assumable per the US Government. Technically other loans could also be assumable but most conventional loans have a Due on Sale clause. Simply put, this means if you sell the home, the lender has the right to be paid back.

If an assumable loan has a rate well below current mortgage rates, it is highly coveted. Buyers are able to take over that rate and payment. There is value in having a lower monthly mortgage payment.

The down payment needed is the difference between the sales price and the amount owed on the assumable loan. This varies with each home. In some cases, we have seen homes with ZERO down payment needed.

UMe has lender partners that are able to help finance part of the down payment needed. There are also other creative financing options available to buyers and sellers.

Once the buyer has assumed your loan, you are no longer responsible and have no liability for it.

The short answer is no. You have not lost your entitlement. VA phrases it as encumbered. Once the loan is either refinanced or paid off, your entitlement is fully restored. Until that time, you may still have bonus entitlement and the ability to get another VA loan. Call us for details.

Of course. Our business model is built around educating agents and arming them with all the tools they need to help buyers and sellers take advantage of this true win-win.

The buyer paid fee of 1% of the purchase price is paid upon a successful closing and through the transaction closing costs. This assures everyone a stress-free experience.
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Apr, 05 2025

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