Assumable Mortgages: Can You Inherit a 2.65% Loan?
What if you could buy a home and keep the seller’s 2.65% mortgage rate? Tim Lucas and Craig Berry explore the government’s new proposals for assumable and portable mortgages—and why they might sound simpler than they are.
In this episode you’ll learn:
- The big idea: Buyers could assume or “port” a seller’s low-rate loan instead of starting a new one.
- The math: A 2.65% rate vs. today’s 6.3% could save $600+ per month on a $300K loan.
- The catch: Most sellers have already paid down their loans, leaving buyers to finance the rest at today’s higher rates.
- Why it’s rare: FHA, VA, and USDA loans are already assumable, but few buyers have the cash—or lender approval—to make it work.
- Portable mortgage concept: Borrowers could take their loan with them when they move, but U.S. lenders are likely to resist due to lost profits.
- The real fix: Experts argue the true solution isn’t new loan types—it’s building more affordable homes.
