Mortgage rates above 7% got you down? Learn how assumable loans let buyers take over a seller’s low-rate mortgage—and help sellers stand out and sell faster.

““Some assumable loans carry rates as low as 2.5%—and can be a game-changer.””

 

Assumable Loans: A Powerful Tool for Buyers and Sellers in Today’s Market

In today’s market, mortgage rates above 7% can feel like a crushing barrier to homeownership. But what if you could sidestep those high rates entirely? Assumable loans make it possible to take over someone else’s existing mortgage—same low rate, same balance—and start saving from day one.

And for homeowners with an FHA or VA loan, assumability isn’t just a technicality—it’s a powerful marketing advantage. In a high-rate market, offering buyers a lower payment option could help your listing stand out and sell faster.

How Assumable Loans Work

  1. Take Over an Existing Mortgage: Instead of applying for a brand-new loan at today’s rates, you ‘assume’ the seller’s mortgage, inheriting their interest rate and remaining balance.
  2. Qualification Process: Our trusted lender partner reviews your credit and income—requirements are often simpler than a new loan. For FHA loans, a 580+ credit score is all you need, plus a commitment to occupy the home as your primary residence. VA loans may allow non-veterans to assume under certain conditions; reach out for details.

Buyer Benefits: Real Savings, Real Simplicity

  • Immediate Monthly Savings: Assuming a $280,000 FHA loan at 4.99% means about $1,493/mo vs. $1,863/mo at 7%, saving nearly $370 every month.
  • Lower Upfront Costs: Avoid many fees and closing costs tied to new loans.
  • Faster Approval: Our lender partner’s 100% success rate moves you from application to closing faster than a new mortgage.

Why Sellers Should Market Their Assumable Loan

  • Make Your Home Stand Out: Highlighting a lower assumable interest rate grabs buyer attention.
  • Competitive Edge: Buyers fatigued by high rates will prioritize listings with lower payment options.
  • Potential for Higher Offers: A rate advantage can justify a stronger price—and attract more offers. Just keep your mortgage current (no late payments), and let us know if you have an FHA or VA loan.

Real-World Example: 8783 W Weeping Dalea, Marana

  • Current FHA Balance: $410,000 at 4.99% → $2,225/mo principal & interest.
  • New Loan Comparison: $450,000 at 7% → $3,040/mo.
  • Monthly Savings: $815.
  • Annual Savings: Nearly $9,800 in year one alone.

Stay in the Know: Our Active Assumable Listings

We maintain a real-time list of every FHA & VA assumable property in Tucson and beyond. Let us add you to the list—so you’re the first to see the lowest-rate homes on the market.

Ready to Learn More?

  • Watch the Explainer Video: Embedded above or on our YouTube channel: https://www.youtube.com/@ripleysrealestategroup.
  • Get the Full List: Text “Assumable List” to 1-833-RIPLEYS or email Info@LuxuryAZRE.com.
  • Contact Our Team: The Ripley’s Real Estate Group is here to help you lock in a better rate and a brighter future in your new home—or sell smarter in today’s market.