Assumable Loan Seller’s FAQ

Make sure to tell your Realtor or real estate professional. This is a huge selling point in today’s rising rate environment. Making sure that your real estate professional informs buyers about this cost savings is the first step!

The process of assuming a mortgage loan is similar to securing brand new financing. We’ll work with your buyer to qualify them to take over your loan.

Since we already own your loan, you’re a step ahead! A Lakeview mortgage specialist will do most of the work with your buyer, and you’ll have some paperwork to sign.

As a part of the assumption closing process, you’ll receive paperwork that releases you from any liability or responsibility for the original loan. Once the new buyer closes on the transaction, you’ll no longer be associated with the original loan, so you’re completely protected if the new buyer fails to make their payments.