Latest / The Assumable Guy Show
Can I Assume a USDA Loan?
USDA loans are assumable, but they come with a catch most people do not find out until they are already three weeks into the process. Ryan lays it out straight. Unlike FHA and VA, most USDA assumptions reset to today's rate, so the seller's 2.75% does not automatically come with the house for a regular buyer. But there is one situation where the original rate does transfer: family. When a home moves between family members on a USDA loan, the rate can come with it, and Ryan walks through exactly what that looks like with real numbers, a $310,000 balance at 2.75% versus the same loan reset to…
The skinny
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