Is Your Loan Assumable?

Yes. All FHA loans are assumable. Loans originated after Dec 15, 1989 require lender credit approval. Older FHA loans may be freely assumable with no credit review.

Yes. VA loans are assumable by veterans and non-veterans. Loans originated after March 1, 1988 require lender approval. The VA funding fee for assumptions is 0.5% of the remaining balance.

In nearly all cases, no. Conventional loans backed by Fannie Mae or Freddie Mac contain a due-on-sale clause that prevents assumption. Only government-backed loans (FHA, VA, USDA) are assumable.

For most modern loans, the servicer will review the buyer's credit, income, and debt-to-income ratio — similar to a standard mortgage application. There is no minimum credit score set by FHA or VA, but servicers commonly require 580-620+.

Typically 30-60 days for FHA loans and 45-90 days for VA loans. The timeline depends on the servicer's processing capacity and how quickly documents are submitted.

Government-backed loan assumptions are a federal right — not a discretionary service. If a frontline representative says no, ask to speak with the assumptions department or a supervisor. Use the call script provided above with the specific federal citation for your loan type.