The Seely Group

Assumable Rate Mortgages Available

The Seely Group can help you find assumable rate mortgages throughout Central Texas. Simply submit your contact info and a Seely Group agent will reach out shortly.
The Seely Group

What is an assumable rate mortgage?

An assumable mortgage is a type of home financing program where an outstanding mortgage and its terms are transferred from the current owner to the buyer. By assuming the previous owner’s remaining debt, the buyer can avoid obtaining their own mortgage. Different types of loans can qualify as assumable mortgages including USDA, FHA, and VA home loans.

Keep the Lowest Interest Rate Available
There could be a cost-saving advantage if current interest rates are higher than the interest rate on the assumable loan.
Save Time and Hassle By Taking on an Existing Mortgage
Rather than going through the rigorous process of obtaining a home loan from a bank, a buyer can take over an existing mortgage.
Save on Out-Of-Pocket Costs
If seller’s home equity is low, there are less out-of-pocket costs for the buyer.

How It Works

Contact The Seely Group to get started
We’ll help you find an assumable rate mortgage on the market that fits your home needs and wants.
Apply for the mortgage with the original lender
The final decision over whether an assumable mortgage can be transferred is not left to the buyer and seller. The lender of the original mortgage must approve the mortgage assumption before the deal can be signed off on by either party. The homebuyer must apply for the assumable loan and meet the lender’s requirements, such as having sufficient assets and being creditworthy.
Get approval and move in to your new home
Now that your home has buyer appeal, it’s time to make final

Beat high interest rates with an

assumable mortgage!

We’ve helped hundreds of families every year buy their dream home and start building a legacy. Click the button below and our team will contact you about getting you in your new house faster using an assumable rate mortgage!

The Seely Group


Assumable refers to when one party takes over the obligation of another. In terms of an assumable mortgage, the buyer assumes the existing mortgage of the seller. When the mortgage is assumed, the seller is often no longer responsible for the debt.
Not assumable means that the buyer cannot assume the existing mortgage from the seller. Conventional mortgages are non-assumable. Some mortgages have non-assumable clauses, preventing buyers from assuming mortgages from the seller.
To assume a loan, you must qualify with the lender. If the price of the house exceeds the remaining mortgage, you must remit a down payment worth the difference between the sale price and the mortgage. If the difference is substantial, the buyer may need to secure a second mortgage.
Certain types of home loans are assumable. For example, USDA, VA, and FHA loans are assumable. Each agency has specific requirements that both parties must fulfill for the loan to be assumed by the buyer. The USDA requires that the house is in a USDA-approved area, the seller must not be delinquent on payments, and the buyer must meet certain income and credit limits. The buyer must confirm with the seller and the seller’s lender if the loan is assumable.
When current interest rates are higher than an existing mortgage’s rates, assuming a loan may be the favorable option. Also, there are not as many costs due at closing. On the other hand, if the seller has a considerable amount of equity in the home, the buyer will either have to pay a large down payment or secure a second mortgage for the balance not covered by the existing mortgage.
12600 Hill Country Blvd
Suite R-275
Bee Cave, TX 78738
512.943.2572 |

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