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Is my loan assumable

I would like to transfer my mortgage to my spouse for health reasons. I got married after my home was purchased. are mortgages assumable? by matloff458 from Altamont, Kansas. Jan 7th 2019 Reply


William J Acres (William_Acres)
#1 ranked lender in Arizona - 8,683 contributions

Conventional mortgages are not, but Government mortgages (FHA, USDA, VA) are assumable "With" Qualifying.. meaning, she would need to apply with your existing lender and meet all eligibility requirements.. But you could just add her to the deed.. This would give her ownership rights, without having to assume the loan. Keep in mind, you are allowed to add someone to the deed, but if you remove yourself and deed it to her solely..then the lender will call the note due and payable.. get with a local title company and let them help you.. for a fee of just a few hundred dollars, they can assist you in doing it correctly.. I'm a preferred Lender with California and Arizona being my primary markets. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. 480-287-5714 WilliamAcres.com NMLS# 226347 / LendUS, NMLS 1938/ AZMB0121893

Jan 8th 2019
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