What is an Assumable Loan? | Know This About Assumable Loans

[@kennykedits]

THANK YOU, This was confusing for me to understand but now i finally understand it now

[@TheRuethTeam]

So glad it helped!

[@lilipatch8200]

Thanks Nicole!!

[@TheRuethTeam]

My pleasure!

[@timodalaigh]

Great Video! You rock Thank you!

[@TheRuethTeam]

My pleasure! With rates higher, could be a great opportunity

[@peggyromero2221]

Great video! Thanks so much Nicole!!

[@TheRuethTeam]

My pleasure, Peggy! Thank you!

[@wendywallace888]

Thank you Nicole! Great content!!!

[@TheRuethTeam]

Thank you Wendy!

[@michelleschwinghammer4725]

Fantastic information, well explained. Timely -- thank you Nicole!

[@TheRuethTeam]

My pleasure. Lot's of people wanting to take advantage of these!

[@alphonso_mortgage_broker]

Does the client have to use the lender/servicer holding the assumable loan? Or does the client just need to get approved by them then transfer the loan to the clients preferred lender?

[@TheRuethTeam]

Hi Alphonso! Yes, the client would have to go through the lender/servicer holding the assumable loan.

[@alphonso_mortgage_broker]

@@TheRuethTeam thank you

[@ryanpennco]

Nicole, great content and very timely. Just so you know, savvy agents could use Realist to find active (or even expired) listings with assumable mortgages as potential options for their buyers. Realist allows you to search by loan amount as well as loan type (FHA and VA are both searchable options), as well as current listing status. I was able to find 391 active listings with FHA or VA loans with a loan amount between 250-750k. Question for you, are any conventional or jumbo loans assumable?

[@TheRuethTeam]

Thanks Ryan, and thanks for the tidbit for agents. Unfortunately no conventional or jumbo loans are assumable.