FAQs about our Services
What type of loans can be assumed?
USDA, VA, and FHA loans can be assumed. You do not have to be a veteran to assume a VA loan.
do i have to live in the home?
yes. loan assumptions for government loans are for primary purchases.
How does your company engage with buyers and sellers to assume existing mortgage loans?
We engage directly with the seller's current loan servicer, gathering all necessary information for potential buyers.
Do you work with real estate agents and closing attorneys or escrow companies?
Yes, we collaborate with real estate professionals and ensure a coordinated experience for all parties involved.
How do you evaluate buyer's ability to assume the loan?
We pre-screen buyers with a soft credit pull to determine loan rediness.
why should i work with Loan ASSumption partners?
servicing companies have NO motivaton to complete an assumption. There is nothing they want more than for this loan to start over at current market interest rates. therefore, you need an advocate who knows what should happen and pushes it through on your behalf.
do you offer loan terms?
no, we do not offer loan terms. We facilitate buyers taking over the existing loan terms of the seller.
do you provide a full credit approval?
While we have a licensed loan originator coordinating the transaction, we do not complete a full credit approval. That will be completed by the current loan servicer.
Can i finance the equity gap to the seller? (the difference of the loan amount to the purchase price)
It is up to the current servicer.
How long does the process take?
It can take anywhere from 30-90 days. This is a very new process for most servicing companies, so they don't necessarily have well oiled systems for completing these transactions.