St Louis Assumable Home Loans
What is an assumable home loan or assumable mortgage?
Many mortgages, such as FHA, VA, and USDA home loans, can be assumed, or taken over, by a purchaser meaning the person buying a home with an assumable loan does not have to obtain a new home mortgage or loan. Generally, when a mortgage or home loan is assumed by a new purchaser, the interest rate and terms stay exactly the same as they were for the seller who was the original borrower.
Do assumable loans still exist?
Yes, they definitely do! In fact, with limited exceptions, all FHA, VA, and USDA loans are assumable. Unfortunately, most conventional loans are not assumable.
What is the advantage of an assumable mortgage over obtaining a new home loan?
The main advantage, and really about the only reason to do it, would be when the existing mortgage has an interest rate that is lower and thus more attractive and affordable than current mortgage interest rates. This is the reason there are not many home loans assumed when interest rates are declining or low because it's likely the current owner's mortgage rate is at or even above the mortgage rate the buyer would obtain on a new home loan. However, during periods of higher interest rates or rising home mortgage rates, loan assumptions, or taking over an assumable home loan, can be very popular! Another advantage with a loan assumption is that the closing costs are generally much lower than on a new mortgage!
Can any buyer assume a loan and not qualify for the mortgage or have a minimum credit score?
There was a time when that was true, in that before HUD made a change to their policy effective with loans originated after December 1, 1986, FHA loans could be assumed by anyone regardless of credit, income, or how credit-worthy they were. However, after that, all buyers that are assuming an FHA loan, or any other loan for the most part for that matter, must qualify for the loan in terms of creditworthiness and ability to repay the loan, as they would for a new mortgage. The advantage to this for the seller is that generally once their lender must approve the buyer that is assuming their loan, once the loan is assumed the original borrower is no longer responsible for the mortgage and has no liability if the new borrower defaults. This is something, however, sellers will want to verify with their lender prior to considering permitting their loan to be assumed.
What are the credit qualifications for a loan assumption?
The qualifications will vary by the type of loan and the current lender's requirements but, for the most part, the buyer (borrower) will need to qualify the same for a loan assumption as they would for a new mortgage.
What types of loans are assumable? Can all home mortgages be assumed?
FHA, VA, and USDA loans are generally all assumable by a buyer that meets the income and credit requirements to qualify for the loan. Some conventional loans may be assumable but many are not. The only way to be sure if your existing mortgage is assumable and know what the process is as well as fees that may be incurred, etc is to contact your current lender. You can contact us as well and we'll be happy to help.
Can someone just take over mortgage payments?
While a purchaser could just agree to take over making the payments on the seller's existing mortgage without doing an assumption but that would be very risky for both parties. For the seller, they would still be responsible for that loan and likely have legal liability if the new borrower didn't pay it out not to mention any late payments would negatively impact the seller since the loan is still in their game. For the buyer, most, if not all, mortgages have a "due on sale" clause meaning that if the property is sold, they can demand the entire loan be repaid. For these reasons as well as many others, doing a formal assumption is a better way to go.
How do I find listings of homes for sale offering an assumable loan?
You're in luck! Below are the current listings showing those listings where it is indicated they have assumable loans and are willing to sell that way from our feed from MARIS, the St Louis regional REALTOR® MLS. Note that there are many sellers that may not realize their loans are assumable or have not thought about selling their home in that way and this is where we can help you. Our agents at MORE, REALTORS® can help identify listings for you that may have assumable loans even if they are not being marketed in that manner.
St Louis Assumable Home Loan Listings For Sale
The Lange (3600 Texas Ave.) and 3620 Texas Ave. is a two-property multifamily portfolio located in the historic neighborhood of Gravois Park in St. Louis, Missouri. The s...
- 26009769 MLS
- ACTIVE Status
This is an exceptional opportunity to own a fully operational winery, vineyard, and event/wedding destination in the heart of Missouri wine country. This meticulously mai...
- 2 Baths
- 26031251 MLS
- ACTIVE Status
Located on Zumbehl Road just north of Highway 94. Zoned C-2 General Business District. All utilities available at site. Excellent road frontage in prime location. This pr...
- 21026189 MLS
- ACTIVE Status
Looking for land to develop? Maybe you just want to purchase a lot and build? This is your chance to be a part of something very amazing. The options are endless with thi...
- 23071485 MLS
- ACTIVE Status
71 Approx. Acres in the heart of St. Robert. This type of property has people dreaming of building their dream home or maybe creating a subdivision that would be perfect ...
- 23073110 MLS
- ACTIVE Status
2700 Macklind Avenue is a renovated mixed-use property along the Macklind Avenue business corridor in St. Louis, just steps from The Hill, combining neighborhood commerci...
- 26047261 MLS
- ACTIVE Status
**RARE OPPORTUNITY ASSUMABLE 2.875% MORTGAGE! Welcome to 9 Buelah Drive — the kind of property that rarely comes available in Troy. Set on 15 unrestricted acres with a st...
- 4 Beds
- 4 Baths
- 26044347 MLS
- ACTIVE Status
Set on a picturesque 1-acre walkout lot in Steeplechase—one of O'Fallon's most coveted neighborhoods - this home delivers the rare combination of timeless architecture, t...
- 5 Beds
- 6 Baths
- 26034000 MLS
- ACTIVE Status
Take advantage of a $10,000 seller concession! Use it to buy down your interest rate and potentially lower your monthly payment, or apply it toward closing costs. Now ava...
- 4 Beds
- 3 Baths
- 26031710 MLS
- ACTIVE Status
Escape to your own private +-90.69 acre retreat just minutes from I-44 and within easy driving distance of Fort Leonard Wood. This well-maintained 3-bedroom, 2-bath ranch...
- 3 Beds
- 2 Baths
- 26046057 MLS
- ACTIVE Status
BE PREPARED TO BE IMPRESSED when you tour this STUNNING 1.5 Story Home offering 4 BEDROOMS, 2.5 BATHS & 3-CAR GARAGE * 9' Ceilings on Main Level with an Open Floor Plan &...
- 4 Beds
- 3 Baths
- 26018085 MLS
- ACTIVE Status
Immediate stream of income. Beautiful mix-use property. 5 residential units and 1 commercial space. Commercial space is a daycare on a lease paying $1250 per month. The 5...
- 26032559 MLS
- ACTIVE Status
Ultimate Recreational Paradise on 84 Acres with Big River Frontage This one-of-a-kind 84-acre property is the ultimate outdoor playground, perfect for nature lovers and ...
- 25046499 MLS
- ACTIVE Status
Welcome Home to Wingate, desirable Mascoutah district community! 1 story living, 3,000 sq ft of finished living space in cul-de-sac location with walk-out basement! Main ...
- 4 Beds
- 3 Baths
- 26045771 MLS
- ACTIVE Status
Welcome home to 227 Highland Meadows Drive in the heart of Wentzville! This beautifully maintained home offers the perfect blend of comfort, space, and functionality. Ste...
- 3 Beds
- 3 Baths
- 26038660 MLS
- ACTIVE Status
This beautifully restored 3-Bedroom, 4-Bath townhome offers over 2,600 square feet of living tucked away on a quiet one-way street in the heart of St. Louis City-blending...
- 3 Beds
- 4 Baths
- 26037875 MLS
- ACTIVE Status
Character and craftsmanship meet modern comfort in this 1925 home, thoughtfully expanded to suit the way today's buyers live. Picture your mornings here: coffee in hand o...
- 4 Beds
- 3 Baths
- 26045441 MLS
- ACTIVE Status
None
- 4 Beds
- 3 Baths
- 26045065 MLS
- COMING SOON Status
Spacious 4 bedroom, 4 bath home with full finished basement tucked away on a cul-de-sac in Shiloh’s Eagles Landing subdivision! With 3,400 sq ft of living space, this hom...
- 4 Beds
- 4 Baths
- 26040920 MLS
- ACTIVE Status
Brand new, new construction development! This recently established subdivision is situated within Warrenton's city limits, eagerly awaiting your selection of both lot and...
- 3 Beds
- 2 Baths
- 25003520 MLS
- ACTIVE Status
Brand new, new construction development! This recently established subdivision is situated within Warrenton's city limits, eagerly await your selection of both lot and fi...
- 3 Beds
- 2 Baths
- 25003293 MLS
- ACTIVE Status
Come see this stunning 4 bedroom, 3 bath home located in the highly sought after Wild Horse Run Subdivision. As you step inside you'll immediately notice the spacious liv...
- 4 Beds
- 3 Baths
- 24076573 MLS
- ACTIVE Status
Country feel with stunning lake views-right inside city limits. Existing loan may be ASSUMABLE for qualified buyers, subject to lender approval. The assumable loan inter...
- 4 Beds
- 4 Baths
- 26022196 MLS
- ACTIVE Status
Brand new, new construction development! This recently established subdivision is situated within Warrenton's city limits, eagerly await your selection of both lot and fi...
- 3 Beds
- 2 Baths
- 25003332 MLS
- ACTIVE Status
Great investment opportunity with this versatile mixed-use property offering three income-producing units in a convenient location. Unit A (middle) is currently leased as...
- 25081022 MLS
- ACTIVE Status
Homes like this don't come around often a full acre, a pool, a workshop, and four bedrooms of living space that gives you room to actually breathe for under $300k Wheth...
- 3 Beds
- 3 Baths
- 26037707 MLS
- ACTIVE Status
Listed for $244,995 - This income producing property is comprised of an office building with a private office space, beauty shop rental and two buildings with self-storag...
- 25081138 MLS
- ACTIVE Status
Located about 1 mile south of I-255 & north of Il Rte 140. 20 minutes to Interstate 270. 30 minutes to St. Louis. All public utilities available near property. Flexibilit...
- 24048694 MLS
- ACTIVE Status
Located at 1710 Thorny Briar DR, STLS MO 63146, this meticulously maintained 1984 townhouse offers a sophisticated residential experience within the STLS metropolitan are...
- 3 Beds
- 3 Baths
- 26047090 MLS
- ACTIVE Status
Charming two-bedroom, two-bath condo in the highly sought-after Chapter One Community. Tons of amenities w/ lake, clubhouse, pool, tennis and pickleball courts ~ close t...
- 2 Beds
- 2 Baths
- 26044910 MLS
- Chapter One Bldg.
- ACTIVE Status
Come check out this opportunity to own a piece of the City! At the intersection of great potential you will find this corner lot in the heart of the city of St. Louis. Lo...
- 24055747 MLS
- ACTIVE Status
There is something reassuring about knowing your own front door is never far away. With shopping, restaurants, healthcare, SEMO, schools, and other Cape Girardeau destina...
- 3 Beds
- 2 Baths
- 26046677 MLS
- ACTIVE Status
Seller Incentive!!!! Take advantage of an exceptional opportunity with this home. The seller is offering 2 months of HOA dues with an acceptable offer, helping reduce you...
- 2 Beds
- 2 Baths
- 26016416 MLS
- Railway Lofts Bldg.
- ACTIVE Status
100+ feet of road frontage located in the sought after Kirkwood School District. All utilities to the site. Build your dream home.
- 24047680 MLS
- ACTIVE Status
Modern condo living right in the heart of downtown St. Louis with walkability. Unit sits on the 4th floor of the Terra Cotta Lofts building over looking the Campbell hou...
- 2 Beds
- 2 Baths
- 26016731 MLS
- Terra Cotta Lofts Garage Condo Bldg.
- ACTIVE Status
Add this one to your rental portfolio!! Very nice, well maintained tenant occupied home i . Tenant paying $1215 per month and is responsible for all utilities. Home...
- 3 Beds
- 1 Baths
- 26039572 MLS
- ACTIVE Status
RARE ASSUMABLE LOAN opportunity available at 5.375% with approximately $875/month payment! Take advantage of a payment far below current market rates while owning this be...
- 1 Beds
- 1 Baths
- 26006142 MLS
- ACTIVE Status
Welcome home to the historic Terra Cotta Lofts, where stunning city views meet modern luxury and a truly incredible financing opportunity! This beautifully updated 1-bedr...
- 1 Beds
- 1 Baths
- 26034269 MLS
- Lucas Place Add Bldg.
- ACTIVE Status
Add this one to your rental portfolio!! Very nice, well maintained tenant occupied ranch home in Ferguson. New renovation completed in June of 2025. Tenant paying $12...
- 2 Beds
- 2 Baths
- 26039494 MLS
- ACTIVE Status
Attention Investors! Add this one to your rental portfolio. Cute 3 bedroom 1 bath home that isTenant occupied with a tenant paying $1350 a month. Lease began 5/2026. ...
- 3 Beds
- 1 Baths
- 26039490 MLS
- ACTIVE Status
Excellent investment opportunity for your rental portfolio! Both units in good shape ready for tenants. Great cash flow opportunity.
- 25005490 MLS
- ACTIVE Status
This is an AS IS sale. Seller to do no repairs, warranties or Inspections.. 3 bedroom 1 bath home on a corner lot. Property is currently vacant but have some cosmetic to...
- 3 Beds
- 1 Baths
- 26041224 MLS
- ACTIVE Status
Add this one to your rental portfolio!! Very nice, well maintained tenant occupied ranch home in Glascow Village. Tenant is partial Section 8 and paying $1424.00 per ...
- 3 Beds
- 1 Baths
- 26039499 MLS
- ACTIVE Status
GATED COMMUNITY in the rolling hills of Franklin County, yet within 12 min to Wildwood. This upscale development has much to offer with the beautiful established communit...
- 24020802 MLS
- ACTIVE Status
Fully updated 1-bedroom home/studio offering modern finishes and low-maintenance living. The renovated kitchen features new stainless steel appliances, updated countertop...
- 1 Beds
- 1 Baths
- 26003338 MLS
- ACTIVE Status
Looking for a blank canvas to build your dream home? This lot is located in an established neighborhood in the charming and family-friendly north end area of Sikeston. Lo...
- 24056563 MLS
- ACTIVE Status
Additional Rooms: In Platted Subdv.
- 23052824 MLS
- ACTIVE Status
Looking to build in perfect location ? Timber Creek Subdivision has 9 lots available to choose from. As you enter the Bricked entrance , you will notice how well this s...
- 22066096 MLS
- ACTIVE Status
0.39 m/l acre lot zoned R-3, located in a well-established multi-family neighborhood. Ideal for investors seeking prime multi-family development opportunities. With an un...
- 18089692 MLS
- ACTIVE Status
Nice level lot. Additional Rooms: Other
- 25017401 MLS
- ACTIVE Status