For Agents
How to Write an Offer on an Assumable Home
By David Golovin · September 26, 2026 · 2 min read
An assumable offer uses the same purchase contract, plus a closing window long enough to clear servicer approval.
Standard offer
- 30 - 45 day closing
- Loan contingency
- Appraisal contingency
- Buyer gets a new loan at market rate (~7%)
- Downpayment based on new loan program
Assumable offer
- 90 - 120 day closing (45 days if Roots coordinates the assumption)
- Loan contingency
- Buyer assumes existing rate
- No appraisal needed unless the buyer adds a second mortgage
- VA loans: a non-veteran buyer needs the seller to agree to leave their VA entitlement
- Downpayment gap = sale price minus loan balance
The downpayment gap
If the home is listed at $450,000 and the remaining loan balance is $300,000, the buyer needs $150,000 at closing, a second loan, or negotiated seller concessions to bridge it.
Where to find assumable listings
Roots lists 17,593 active assumable homes with estimated rates, downpayment gaps, and monthly payments. Agents can filter by state and share listings directly with clients.
FAQ
How long should the closing period be on an assumable home offer?
Most agents write a 90 to 120 day closing window. Servicer approval typically takes 60 to 120 days, so the contract needs room or it will need to be extended.
Does the buyer get the earnest money back if the assumption is denied?
A well-written loan contingency returns the earnest money if the servicer denies the assumption after a good-faith application.