What is an assumable mortgage?
When you assume a mortgage, you take over the seller's existing loan — including their interest rate, remaining balance, and terms. If they locked in a 2.5% rate in 2021 and today's rates are 7%+, you inherit that 2.5% rate. This is legal and available on FHA, VA, and USDA government-backed loans.
How It Works
01
Find a Listing
Browse homes with assumable mortgages in San Diego. Filter by loan type, rate, and price.
02
Calculate Your Savings
Use our equity calculator to see your monthly savings vs. a new loan at today’s rates.
03
Connect with the Agent
Submit your interest to the listing agent. They’ll guide you through the assumption process.
Eligible Loan Types
FHA Loans
Fully assumable with credit approval. Most common assumable loan type.
VA Loans
Assumable by veterans and qualified civilians. Seller’s VA entitlement may remain tied up until loan is paid off.
USDA Loans
Assumable in rural areas with USDA approval. Verify rate terms with servicer.
Savings Illustration
Based on a $450,000 loan balance.
New mortgage at 7.5%
~$3,147
/month
Assumed at 3.0%
~$1,897
/month
~$1,250 saved every month
~$15,000/year in savings
Example only. Actual savings depend on loan balance, rate, and terms.
