are fannie loans assumable?
or transferrable...not sure of the difference to be quite honest. thanks
Joe Metzler (JoeMetzler)
#17 ranked lender in Minnesota - 4,843 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
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?
John Moran (SimplifyMortgage)
#7 ranked lender in Arizona - 663 contributions
Neither Fannie or Freddie loans are assumable or transferable (pretty much the same thing).
Michelle Curtis Loan Originator NMLS 401173 (MichelleCurtisLO)
#77 ranked lender in Florida - 2,245 contributions
No
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