{"id":98488,"date":"2025-01-28T10:25:31","date_gmt":"2025-01-28T18:25:31","guid":{"rendered":"https:\/\/www.redfin.com\/blog\/?p=98488"},"modified":"2025-01-28T10:57:44","modified_gmt":"2025-01-28T18:57:44","slug":"assumable-mortgage","status":"publish","type":"post","link":"https:\/\/www.redfin.com\/blog\/assumable-mortgage\/","title":{"rendered":"Assumable Mortgages: What to Know Before Taking Over a Home Loan"},"content":{"rendered":"<p><span style=\"font-weight: 400;\">When it comes to buying a home, most buyers are familiar with securing a brand-new mortgage. But what about stepping into someone else\u2019s shoes? Assumable mortgages offer a unique alternative, allowing buyers to take over the seller\u2019s existing loan &#8211; potentially locking in a lower interest rate and saving money over time. Whether you&#8217;re looking at <\/span><a href=\"https:\/\/www.redfin.com\/city\/17150\/UT\/Salt-Lake-City\" data-wpel-link=\"exclude\"><span style=\"font-weight: 400;\">homes in Salt Lake City<\/span><\/a><span style=\"font-weight: 400;\"> or considering properties in another competitive market, like <\/span><a href=\"https:\/\/www.redfin.com\/city\/3105\/NC\/Charlotte\" data-wpel-link=\"exclude\"><span style=\"font-weight: 400;\">homes in Charlotte<\/span><\/a><span style=\"font-weight: 400;\">, assumable mortgages can be a smart move in the right situation. However, they come with their own set of considerations. From evaluating the loan terms to understanding the hidden costs, assuming a mortgage isn&#8217;t a decision to take lightly. This Redfin article has everything you need to know before jumping in.<\/span><\/p>\n<p><img fetchpriority=\"high\" decoding=\"async\" class=\"alignnone size-full wp-image-98489\" src=\"https:\/\/www.redfin.com\/blog\/wp-content\/uploads\/2025\/01\/beautiful-white-brick-home-with-black-accents.jpg\" alt=\"beautiful white brick home with black accents\" width=\"1200\" height=\"800\" srcset=\"https:\/\/www.redfin.com\/blog\/wp-content\/uploads\/2025\/01\/beautiful-white-brick-home-with-black-accents.jpg 1200w, https:\/\/www.redfin.com\/blog\/wp-content\/uploads\/2025\/01\/beautiful-white-brick-home-with-black-accents-300x200.jpg 300w, https:\/\/www.redfin.com\/blog\/wp-content\/uploads\/2025\/01\/beautiful-white-brick-home-with-black-accents-1024x683.jpg 1024w, https:\/\/www.redfin.com\/blog\/wp-content\/uploads\/2025\/01\/beautiful-white-brick-home-with-black-accents-768x512.jpg 768w, https:\/\/www.redfin.com\/blog\/wp-content\/uploads\/2025\/01\/beautiful-white-brick-home-with-black-accents-225x150.jpg 225w, https:\/\/www.redfin.com\/blog\/wp-content\/uploads\/2025\/01\/beautiful-white-brick-home-with-black-accents-945x630.jpg 945w, https:\/\/www.redfin.com\/blog\/wp-content\/uploads\/2025\/01\/beautiful-white-brick-home-with-black-accents-450x300.jpg 450w\" sizes=\"(max-width: 1200px) 100vw, 1200px\" \/><\/p>\n<h2><span style=\"font-weight: 400;\">What is an assumable mortgage?<\/span><\/h2>\n<p><span style=\"font-weight: 400;\">An assumable mortgage is a type of home loan that allows a buyer to take over, or &#8220;assume,\u201d the seller&#8217;s existing mortgage, including its interest rate, terms, and remaining balance. Instead of applying for a new home loan with <\/span><a href=\"https:\/\/www.redfin.com\/todays-mortgage-rates\" data-wpel-link=\"exclude\"><span style=\"font-weight: 400;\">today\u2019s mortgage rates<\/span><\/a><span style=\"font-weight: 400;\"> and terms, the buyer steps into the seller&#8217;s position as the borrower and continues making payments under the original loan agreement.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Assumable mortgages represent a unique opportunity in the right circumstances but require careful due diligence. Both the buyer and seller must work closely with the lender to ensure compliance with the loan\u2019s terms and approval requirements.<\/span><\/p>\n<h2><span style=\"font-weight: 400;\">How do assumable loans work?<\/span><\/h2>\n<p><span style=\"font-weight: 400;\">When you assume a mortgage, you take over the seller&#8217;s remaining loan balance and become responsible for the ongoing payments. The main benefit of assuming a home loan is that the buyer inherits the original loan\u2019s interest rate, which can be particularly advantageous if the current mortgage rates are higher. For example, if the seller has a 3% interest rate and current rates are 7%, the buyer saves significantly on <\/span><a href=\"https:\/\/www.redfin.com\/blog\/how-much-does-interest-rate-affect-monthly-payment\/\" data-wpel-link=\"exclude\"><span style=\"font-weight: 400;\">monthly payments by keeping the lower rate<\/span><\/a><span style=\"font-weight: 400;\">.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">However, there are other costs you need to account for in addition to the loan itself, such as:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Equity payment:<\/b><span style=\"font-weight: 400;\"> You\u2019ll need to pay the seller for the equity they\u2019ve already built up in the home. This is typically reflected in the sale price of the property.<\/span>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\"><em>For example:<\/em> If the home sells for $400,000 but the mortgage balance is $300,000, the buyer must cover the $100,000 difference\u2014either in cash or through additional financing.<\/span><\/li>\n<\/ul>\n<\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Assumption fee:<\/b><span style=\"font-weight: 400;\"> Lenders typically charge an administrative fee to process the loan transfer, usually ranging from 0.05% to 1% of the remaining loan balance.<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">Assuming a mortgage usually takes 45 to 90 days, though it can take longer depending on the lender and loan specifics. During this time, the lender reviews the buyer\u2019s qualifications and processes the transfer. While it may take longer to close, the benefits can make it worthwhile.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Late payments on the mortgage must be resolved before the loan can be transferred. Typically, the seller is responsible for bringing the loan current, but buyers should review the loan history to ensure there are no hidden liabilities or unresolved fees that could delay the process. Any unpaid fees or unresolved issues could delay or complicate the transfer.<\/span><\/p>\n<h2><span style=\"font-weight: 400;\">What types of mortgage loans are assumable?\u00a0<\/span><\/h2>\n<p><span style=\"font-weight: 400;\">Not all mortgages are assumable. Government-backed loans such as FHA, VA, and USDA loans are the most common types of assumable mortgages. Conventional loans on the other hand typically include a <\/span><a href=\"https:\/\/www.quickenloans.com\/learn\/due-on-sale-clause\" data-wpel-link=\"external\" target=\"_blank\" rel=\"external noopener noreferrer\"><span style=\"font-weight: 400;\">due-on-sale clause<\/span><\/a><span style=\"font-weight: 400;\">, which prevents them from being assumable. This clause is a standard provision in most conventional mortgage agreements and requires the borrower to pay off the full loan balance if the property is sold or transferred. While it&#8217;s not as common, a lender might waive the due-on-sale clause in special circumstances, such as during a family transfer or inheritance.\u00a0<\/span><\/p>\n<h3><span style=\"font-weight: 400;\">FHA loans<\/span><\/h3>\n<p><span style=\"font-weight: 400;\">These loans are popular for their flexible credit requirements and low down payment options, which make homeownership more accessible. <a href=\"https:\/\/www.redfin.com\/blog\/are-fha-loans-assumable\/\" data-wpel-link=\"exclude\">FHA loans are assumable<\/a>, but the buyer must meet the lender\u2019s approval criteria, including a sufficient credit score and stable income. Additionally, the lender must verify the buyer&#8217;s ability to take over the remaining payments. The seller must also be in good standing with their loan, meaning it cannot be delinquent.<\/span><\/p>\n<h3><span style=\"font-weight: 400;\">VA loans<\/span><\/h3>\n<p><span style=\"font-weight: 400;\">VA loans are specifically designed for eligible veterans, active-duty service members, and certain surviving spouses. These loans can be assumed by other qualified buyers, whether they are veterans or not, provided the lender approves. VA loans typically offer significant advantages, like <\/span><a href=\"https:\/\/www.redfin.com\/blog\/how-to-buy-a-house-with-no-money-down\/\" data-wpel-link=\"exclude\"><span style=\"font-weight: 400;\">no down payment<\/span><\/a><span style=\"font-weight: 400;\"> and competitive interest rates. If the buyer assuming the loan is not eligible for VA benefits, the original borrower may lose their VA entitlement unless the loan is fully repaid. This makes it especially important for both parties to understand the potential implications before proceeding.<\/span><\/p>\n<h3><span style=\"font-weight: 400;\">USDA loans<\/span><\/h3>\n<p><span style=\"font-weight: 400;\">USDA loans, which are aimed at promoting homeownership in rural and some suburban areas, are also assumable under certain conditions. These loans offer attractive terms like no down payment and low interest rates, but the property must meet USDA eligibility requirements based on location, and the buyer must meet the lender\u2019s income limits. Like with FHA and VA loans, the buyer must go through an approval process to ensure they can meet the loan obligations.<\/span><\/p>\n<p><img decoding=\"async\" class=\"alignnone size-full wp-image-98490\" src=\"https:\/\/www.redfin.com\/blog\/wp-content\/uploads\/2025\/01\/cozy-living-room-with-brick-fireplace.jpg\" alt=\"cozy living room with brick fireplace\" width=\"1200\" height=\"800\" srcset=\"https:\/\/www.redfin.com\/blog\/wp-content\/uploads\/2025\/01\/cozy-living-room-with-brick-fireplace.jpg 1200w, https:\/\/www.redfin.com\/blog\/wp-content\/uploads\/2025\/01\/cozy-living-room-with-brick-fireplace-300x200.jpg 300w, https:\/\/www.redfin.com\/blog\/wp-content\/uploads\/2025\/01\/cozy-living-room-with-brick-fireplace-1024x683.jpg 1024w, https:\/\/www.redfin.com\/blog\/wp-content\/uploads\/2025\/01\/cozy-living-room-with-brick-fireplace-768x512.jpg 768w, https:\/\/www.redfin.com\/blog\/wp-content\/uploads\/2025\/01\/cozy-living-room-with-brick-fireplace-225x150.jpg 225w, https:\/\/www.redfin.com\/blog\/wp-content\/uploads\/2025\/01\/cozy-living-room-with-brick-fireplace-945x630.jpg 945w, https:\/\/www.redfin.com\/blog\/wp-content\/uploads\/2025\/01\/cozy-living-room-with-brick-fireplace-450x300.jpg 450w\" sizes=\"(max-width: 1200px) 100vw, 1200px\" \/><\/p>\n<h2><span style=\"font-weight: 400;\">The pros and cons of an assumable mortgage<\/span><\/h2>\n<p><span style=\"font-weight: 400;\">While assumable mortgages offer clear advantages, it\u2019s essential for buyers to weigh these benefits against potential challenges, such as upfront equity payments and lender approval requirements.<\/span><\/p>\n<h3><span style=\"font-weight: 400;\">The pros of assuming a mortgage<\/span><\/h3>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Lower interest rate:<\/b><span style=\"font-weight: 400;\"> The most significant advantage for buyers is the ability to take over the seller\u2019s interest rate, which may be lower than current market rates. In a rising rate environment, this can lead to substantial long-term savings.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Fewer closing costs:<\/b><span style=\"font-weight: 400;\"> Assuming a loan typically involves lower closing costs compared to obtaining a new mortgage. For example, buyers often pay an assumption fee (usually a small percentage of the loan amount) instead of <\/span><a href=\"https:\/\/www.redfin.com\/blog\/closing-costs-when-buying-a-home\/\" data-wpel-link=\"exclude\"><span style=\"font-weight: 400;\">standard closing costs<\/span><\/a><span style=\"font-weight: 400;\">, which can include origination fees, appraisal fees, and more.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Simplified financing process<\/b><span style=\"font-weight: 400;\">: Assuming a loan often involves fewer steps than securing a new one, such as skipping an appraisal or less stringent requirements.<\/span><\/li>\n<\/ul>\n<h3><span style=\"font-weight: 400;\">The cons of assuming a mortgage\u00a0<\/span><\/h3>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>High upfront costs:<\/b><span style=\"font-weight: 400;\"> Buyers are responsible for covering the equity the seller has built in the home, which is usually reflected in the sale price. This can require a significant upfront payment, especially if the home\u2019s value has increased substantially since the original loan was issued.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Limited loan and lender options: <\/b><span style=\"font-weight: 400;\">Assumable mortgages are typically limited to FHA, VA, and USDA loans. Buyers seeking conventional loan terms may not have this option. Buyers also will not have the freedom to choose which lender they\u2019d like to work with.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Mortgage insurance<\/b><span style=\"font-weight: 400;\">: If the original loan required private mortgage insurance (PMI), which is common with FHA loans, the buyer must continue paying for it until the loan balance reaches the threshold where PMI is no longer required.<\/span><\/li>\n<\/ul>\n<h2><span style=\"font-weight: 400;\">3 important things to do and consider before assuming a mortgage<\/span><\/h2>\n<p><span style=\"font-weight: 400;\">Deciding whether an assumable mortgage is right for you will depend on your situation, <\/span><a href=\"https:\/\/www.redfin.com\/blog\/is-now-a-good-time-to-buy-a-house\/\" data-wpel-link=\"exclude\"><span style=\"font-weight: 400;\">if it\u2019s a good time to buy a house<\/span><\/a><span style=\"font-weight: 400;\"> in your market, and the specifics of the home loan. While these loans can offer benefits like lower interest rates or simplified financing, there are several important factors to weigh before making your decision.<\/span><\/p>\n<h3>1. Understand the total cost and evaluate your financial situation<\/h3>\n<p><span style=\"font-weight: 400;\">When assuming a mortgage, the total cost goes beyond the price of the home and the remaining loan balance. There are several other expenses that come with homeownership that you need to account for to ensure you&#8217;re financially prepared.<\/span><\/p>\n<p><b>The seller\u2019s equity:<\/b><span style=\"font-weight: 400;\"> This is the difference between the home\u2019s sale price and the remaining balance on the existing mortgage. If the equity is substantial, you may need to secure a second loan or have enough savings to cover the gap.\u00a0<\/span><\/p>\n<p><b>Additional loans:<\/b><span style=\"font-weight: 400;\"> If you need to secure additional financing to cover the seller\u2019s equity, think carefully about the implications. Will managing two loans strain your budget? Are you comfortable with the higher upfront cost? Be realistic about how this will affect your financial health and goals.<\/span><\/p>\n<p><b>Property taxes<\/b><span style=\"font-weight: 400;\">: Ensure there are no outstanding <\/span><a href=\"https:\/\/www.redfin.com\/guides\/what-are-property-taxes\" data-wpel-link=\"exclude\"><span style=\"font-weight: 400;\">property taxes<\/span><\/a><span style=\"font-weight: 400;\">. If the seller has unpaid taxes, you might inherit that debt, adding to the overall cost of the home.<\/span><\/p>\n<p><b>HOA fees:<\/b><span style=\"font-weight: 400;\"> If the home is part of an HOA, you&#8217;ll be responsible for monthly or annual fees, which can range from modest to substantial amounts depending on the property.<\/span><\/p>\n<p><b>Home insurance &amp; flood insurance<\/b><span style=\"font-weight: 400;\">: Depending on the location, you may need additional insurance, such as flood insurance, which can add to your monthly expenses.<\/span><\/p>\n<p><b>Inspection &amp; repair costs:<\/b><span style=\"font-weight: 400;\"> Before assuming the loan, have a home inspection done to assess the property\u2019s condition. You\u2019ll want to know if there are any major repairs or updates needed.<\/span><\/p>\n<p><b>Solar panels:<\/b><span style=\"font-weight: 400;\"> If the home has solar panels, confirm whether they\u2019re fully paid off. If there\u2019s an outstanding loan for the solar system, you may be responsible for it as part of the home purchase.<\/span><\/p>\n<p><b>Closing costs: <\/b><span style=\"font-weight: 400;\">There will likely be closing costs associated with assuming the mortgage, such as the assumption fee (usually 0.5% to 1% of the original loan), <\/span><a href=\"https:\/\/www.redfin.com\/blog\/how-much-does-title-insurance-cost\/\" data-wpel-link=\"exclude\"><span style=\"font-weight: 400;\">title fees<\/span><\/a><span style=\"font-weight: 400;\">, and recording fees. These costs may be lower than a traditional loan but should still be factored into your budget.<\/span><\/p>\n<p><b>Prepaid expenses:<\/b><span style=\"font-weight: 400;\"> Depending on when the loan is assumed, you may need to cover prepaid expenses like property taxes or homeowner\u2019s insurance for the upcoming year, or interest payments due at closing. These costs can add up, so confirm with the lender what you\u2019ll need to pay.<\/span><\/p>\n<h3>2. Examine the loan terms and conditions<\/h3>\n<p><span style=\"font-weight: 400;\">Carefully review the terms of the loan you\u2019re assuming. Are there restrictions, like a remaining term that doesn\u2019t fit your long-term plans, or an adjustable interest rate that could rise in the future? Make sure you fully understand the repayment schedule, interest rate, and any other loan-specific conditions. You\u2019ll also want to confirm with the lender that the current mortgage is in good standing. If the seller has any missed payments or delinquencies, you\u2019ll need to address these before assuming the loan. Unresolved issues could delay or even prevent the assumption process.<\/span><\/p>\n<h3>3. Don\u2019t skip over essential steps of the homebuying process<\/h3>\n<p><span style=\"font-weight: 400;\">When buying a home, particularly if you&#8217;re assuming a mortgage, it\u2019s crucial to conduct thorough due diligence to avoid costly surprises. Start with a <\/span><a href=\"https:\/\/www.redfin.com\/guides\/home-inspection\" data-wpel-link=\"exclude\"><span style=\"font-weight: 400;\">home inspection<\/span><\/a><span style=\"font-weight: 400;\"> to ensure the property is in good condition and free of hidden issues like foundation problems, plumbing leaks, or electrical concerns. Even if the home appears well-maintained, a professional inspection can uncover costly repairs you may not see at first glance.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Next, ensure there are no outstanding liens or claims on the property. This includes unpaid taxes, contractor bills, or other legal claims that could affect your ownership. These issues can be discovered during a title search, which is another essential step. A title search will verify the property\u2019s legal ownership and ensure there are no unresolved disputes or third-party claims.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">By thoroughly inspecting the property, checking for liens, and conducting a title search, you ensure that your investment is secure and that you\u2019re aware of any potential legal or financial issues before moving forward with assuming the loan and taking over ownership of the property.<\/span><\/p>\n<p><img decoding=\"async\" class=\"alignnone size-full wp-image-98491\" src=\"https:\/\/www.redfin.com\/blog\/wp-content\/uploads\/2025\/01\/sleek-white-kitchen-with-designer-upgrades.jpg\" alt=\"sleek white kitchen with designer upgrades\" width=\"1200\" height=\"800\" srcset=\"https:\/\/www.redfin.com\/blog\/wp-content\/uploads\/2025\/01\/sleek-white-kitchen-with-designer-upgrades.jpg 1200w, https:\/\/www.redfin.com\/blog\/wp-content\/uploads\/2025\/01\/sleek-white-kitchen-with-designer-upgrades-300x200.jpg 300w, https:\/\/www.redfin.com\/blog\/wp-content\/uploads\/2025\/01\/sleek-white-kitchen-with-designer-upgrades-1024x683.jpg 1024w, https:\/\/www.redfin.com\/blog\/wp-content\/uploads\/2025\/01\/sleek-white-kitchen-with-designer-upgrades-768x512.jpg 768w, https:\/\/www.redfin.com\/blog\/wp-content\/uploads\/2025\/01\/sleek-white-kitchen-with-designer-upgrades-225x150.jpg 225w, https:\/\/www.redfin.com\/blog\/wp-content\/uploads\/2025\/01\/sleek-white-kitchen-with-designer-upgrades-945x630.jpg 945w, https:\/\/www.redfin.com\/blog\/wp-content\/uploads\/2025\/01\/sleek-white-kitchen-with-designer-upgrades-450x300.jpg 450w\" sizes=\"(max-width: 1200px) 100vw, 1200px\" \/><\/p>\n<h2><span style=\"font-weight: 400;\">How to find assumable mortgage listings<\/span><\/h2>\n<p><span style=\"font-weight: 400;\">While homes for sale with an assumable mortgage aren\u2019t as common, there are still several ways you can go about finding one. Start by using keywords like \u201cassumable\u201d or \u201cassume\u201d in the filters section when searching for homes online on <\/span><a href=\"https:\/\/www.redfin.com\/\" data-wpel-link=\"exclude\"><span style=\"font-weight: 400;\">Redfin<\/span><\/a><span style=\"font-weight: 400;\">. This can help you quickly locate properties where the seller has highlighted the assumable loan as part of the sale.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">A real estate agent familiar with assumable mortgages can also be a valuable resource. They can identify properties with assumable loans, contact sellers, and negotiate on your behalf. Agents may also have access to local MLS data that includes filters for assumable loans, which aren\u2019t always visible to the public.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">You can also reach out directly to lenders who frequently issue assumable loans, such as those backed by the FHA, VA, or USDA. They may be able to provide information on current sellers whose loans are eligible for assumption. By combining these approaches, you can increase your chances of finding a home with an assumable mortgage that fits your needs.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>An assumable mortgage allows buyers to take over a seller\u2019s existing loan, often with favorable terms. But before you take the leap, it\u2019s important to carefully assess the loan details, costs beyond the price, and long-term implications. Here\u2019s what to consider to ensure you make the right decision for your financial future.<\/p>\n","protected":false},"author":523,"featured_media":98489,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"default","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","ast-disable-related-posts":"","theme-transparent-header-meta":"default","adv-header-id-meta":"","stick-header-meta":"default","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"set","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"footnotes":""},"categories":[34277,1],"tags":[3621,4007,34642],"coauthors":[31388],"class_list":["post-98488","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance","category-uncategorized","tag-finance","tag-home-buyer-tips","tag-mortgage"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v24.7 (Yoast SEO v27.7) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Assumable Mortgages Explained: Pros, Cons, and Costs | Redfin<\/title>\n<meta name=\"description\" content=\"Considering an assumable mortgage? Learn how they work, the pros and cons, and key factors to evaluate before assuming someone else\u2019s loan.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.redfin.com\/blog\/assumable-mortgage\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Assumable Mortgages: What to Know Before Taking Over a Home Loan\" \/>\n<meta property=\"og:description\" content=\"Considering an assumable mortgage? 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