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FHA Loan Assumptions: The Basics

July 30, 2012

What is FHA loan assumption? Loan assumption is where the owner of the home purchased with an FHA mortgage wishes to transfer the loan and ownership of the property to another person, without the new owner applying for a brand new FHA guaranteed mortgage or conventional loan.

According to the FHA official site, “All FHA-insured mortgages are assumable.

Joe Wallace - Staff Writer

By Joe Wallace

Joe Wallace has been specializing in military and personal finance topics since 1995. His work has appeared on Air Force Television News, The Pentagon Channel, ABC and a variety of print and online publications. He is a 13-year Air Force veteran and a member of the Air Force Public Affairs Alumni Association. He was Managing editor for www.valoans.com for (8) years and is currently the Associate Editor for FHANewsblog.com.

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FHANewsBlog.com was launched in 2010 by seasoned mortgage professionals wanting to educate homebuyers about the guidelines for FHA insured mortgage loans. Popular FHA topics include credit requirements, FHA loan limits, mortgage insurance premiums, closing costs and many more. The authors have written thousands of blogs specific to FHA mortgages and the site has substantially increased readership over the years and has become known for its “FHA News and Views”.

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