06/03/2026
There’s something everyone should know about rates right now.
Some homes for sale have mortgages that may be assumable, meaning a qualified buyer could potentially take over the seller's existing loan instead of getting a brand-new one.
Why is that important?
Because if the seller bought in 2020 or 2021, their interest rate could be around 3%.
Now before everyone gets too excited, not every mortgage qualifies and not every seller has an assumable loan.
But they're out there.
And depending on the home, the difference in monthly payment can be significant.
If you're thinking about buying, it's worth understanding how assumable mortgages work. They aren't common, but when they make sense, they can create opportunities that many buyers overlook.