Is an Assumable Mortgage the answer to your home purchase?

Did you know that there are mortgage loans that can be assumed? Normally VA, FHA and USDA loans are eligible to be assumed. (Most conventional loans are not assumable) With interest rates being between 2-4% just 18 months ago it might be a good opportunity to see what homes are available with this option.


  • The buyer takes over the remaining balance left on the loan, including mortgage term, mortgage insurance (if any) and mortgage interest rate.
  • You will have to qualify for the loan. This includes income verification and at least a 580 FICO score or higher.
  • Loan origination fees run .5% - 1.0%. 
  • Often it requires a large down payment if the seller’s equity is high. Example:  If the purchase price is $400,000 and the loan balance is $300,000 you will need $100,000 in downpayment plus your closing costs.
  • You may need an appraisal.
  • The transaction takes place with the Seller’s current lender.


  • You can start building equity in a home without the high interest rate.
  • You could be on the way to home ownership and stop paying rent!

Homes Available:

  • Teller County - There are currently 3 homes available within Woodland Park, Divide and Florissant.
  • El Paso County – There are currently 87 homes available in Colorado Springs, Fountain, Monument, Calhan, and Peyton.

Reach out and we will help to answer your questions concerning this unique opportunity.

Hope you found this helpful!

Margie Keener