What is Assumability?

Assumability in Relation to HUD 232 Loans

Assumability is the ability to transfer an outstanding mortgage and its terms from the current owner to a buyer, preventing the new buyer from needing to obtain a new mortgage. Fortunately for borrowers, HUD 232 and HUD 232/223(f) loans are fully assumable with FHA approval and a small fee.

To learn more about HUD 232 loans, fill out the form below to speak to a HUD/FHA loan expert.