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are fannie loans assumable?

or transferrable...not sure of the difference to be quite honest. thanks

by dr_gibraldi234987... from Arivaca, Arizona. May 15th 2014 Reply


Joe Metzler (JoeMetzler)
#17 ranked lender in Minnesota - 4,848 contributions

Generally speaking, conventional loans like standard Fannie Mae / Freddie Mac based loans are NOT assumable. Generally speaking, most government backed loans, like FHA Loans, and VA loans ARE assumable. But, those assumable loans are not like the old days. The assumable loans of today require the person assuming the loan to actually qualify for the loan too. www.Minneapolis-Mortgage.net

May 16th 2014
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Drew Hernandez (DrewHernandez)
#1000 ranked lender in California - 24 contributions

No, Fannie loans are not assumable. However certain portfolio lenders still offer assumable loans. What were you trying to accomplish?

May 15th 2014
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John Moran (SimplifyMortgage)
#7 ranked lender in Arizona - 663 contributions

Neither Fannie or Freddie loans are assumable or transferable (pretty much the same thing).

May 15th 2014
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Michelle Curtis Loan Originator NMLS 401173 (MichelleCurtisLO)
#77 ranked lender in Florida - 2,245 contributions

No

May 16th 2014
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