A mortgage that may be “taken over” by a qualified third party. Most assumable mortgages are government-backed products like VA, FHA and USDA home loans.

A home mortgage that allows the buyer to take over the seller's mortgage; that is, to step into the seller's shoes, make mortgage payments, and comply with other terms of the existing loan. [..]

A mortgage that can be taken over by the buyer when a home is sold.

A mortgage that can be assumed by the buyer when a home is sold. Usually, the borrower must "qualify" in order to assume the loan.

Definition A mortgage that can be transfered with no change in terms. If an assumable mortgage is transferred, the buyer assumes all responsibility for repayment. The original lender must agree to the [..]

is basically buying a house and taking on the previous owner's mortgage as it stood before the sale. So instead of taking out your own mortgage you assume the role of the previous owner and conti [..]

when a home is sold, the seller may be able to transfer the mortgage to the new buyer. This means the mortgage is assumable. Lenders generally require a credit review of the new borrower and may ...

A mortgage contract that allows, or does not prohibit, a creditworthy buyer from assuming the mortgage contract of the seller. Assuming a loan will save the buyer money if the rate on the existing [..]

A mortgage that can be transferred from a seller to a buyer; once the loan is assumed by the buyer, the seller is no longer responsible for repaying it; there may be a fee and/or a credit package involved in the transfer of an assumable mortgage.

A loan that allows a home buyer to take over a seller's mortgage when purchasing a home. The borrower must qualify to assume the loan. When you assume a mortgage you inherit both the interest rat [..]

An assumable mortgage is one which lets a buyer take over the existing loan of a seller. Assumable mortgages require the lender’s approval. The person who assumes a mortgage takes the same interest ra [..]

A mortgage that can be transferred to a new owner. The new owner then assumes responsibility as the guarantor for the unpaid balance of the mortgage.

A mortgage that can be taken over by the buyer when a home is sold.

A mortgage (on a home) that can be taken over by the buyer of the home.

An assumable mortgage is one that can be taken over ("assumed") by the buyer when a home is sold. One condition of an assumable mortgage is that the lender must approve of the new ho [..]

A Mortgage that allows a purchaser to assume or take over the responsibility and liabilities under the mortgage from a vender.