Assumable Mortgage
California Association of Realtors
Updated 10-31-2026
Assumable Mortgage
An assumable mortgage can be transferred from the seller to the new buyer. Generally requires a credit review of the new borrower and lenders may charge a fee for the assumption. If a mortgage contains a due-on-sale clause, a new buyer may not assume the mortgage.
California Association of Realtors Glossary
California Association of Realtors · p. 2
FTC
Updated 10-31-2026
Assumable Mortgage
A mortgage loan that can be taken over (assumed) by the buyer when a home is sold. An assump-tion of a mortgage is a transaction in which the buyer of real property takes over the seller's existing mortgage; the seller remains liable unless released by the lender from the obligation. If the mortgage contains a due-on-sale clause, the loan may not be assumed without the lender's consent.
FTC Real Estate Terms
FTC · p. 2
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