Assumable 101
Can You Assume a Conventional Mortgage?
By David Golovin · September 29, 2026 · 2 min read
Mostly no. A lender can approve a conventional assumption, but most enforce the due-on-sale clause instead. FHA and VA loans are assumable by federal law.
| Loan type | Assumable? | Credit minimum | Who reviews |
|---|---|---|---|
| Conventional | If the lender allows | Set by lender | Lender |
| FHA | Yes | 580+ | Servicer (HUD guidelines) |
| VA | Yes | 580 - 620 (lender) | Servicer (VA guidelines) |
The lender decides on conventional loans
The Garn-St. Germain Act of 1982 made due-on-sale clauses enforceable, so the lender decides. Most call the loan due at sale, though a lender can approve an assumption on its own terms.
Source: 12 U.S.C. 1701j-3, Garn-St. Germain Act
What FHA and VA assumptions mean right now
Roots shows 17,931 active assumable FHA and VA listings. The estimated average rate is 4.52%, compared to 7.03% on a new 30-year fixed loan.
Source: Freddie Mac Primary Mortgage Market Survey, Sept 24, 2026
FAQ
Can you ever assume a conventional mortgage?
Yes, if the lender allows it. Some adjustable-rate and portfolio loans are written as assumable, and the Garn-St. Germain Act exempts certain transfers such as inheritance or a transfer to a spouse. For a standard purchase, most lenders enforce the due-on-sale clause instead.
Which loans are assumable?
FHA and VA loans are assumable by federal statute. Any creditworthy buyer can apply to take over the seller’s existing loan at the original interest rate.
How do you know if a loan is assumable?
Check the loan type first: FHA and VA loans are assumable by law. For a conventional loan, the note or rider states whether assumption is allowed, and the servicer can confirm. Roots flags assumable FHA and VA listings with estimated rates.