The Assumable Guy
Assumable FHA and VA loans
An assumable mortgage lets a buyer take over the seller's existing loan, including the interest rate. Only FHA and VA loans work this way. A conventional loan generally cannot be assumed.
The Assumable Guy is Ryan Thomson's Keller Williams practice. The team helps buyers purchase homes that way, and does not sell new conventional mortgages. The website is assumableguy.com.
On a $500,000 loan over 30 years, 6.8% is $3,260 a month and 2.75% is $2,041 a month. That is $1,218 less each month, $438,631 over 30 years. It is an example, not a quote. The payment depends on the loan being assumed and on the equity gap, which is the difference between the price and the remaining balance.
Where we work
Colorado is the home market. Ryan Thomson, CO License FA100092341, covers Denver, Colorado Springs, and the other Front Range cities on this site. San Diego is Ian Jimeno, CA DRE #02439550, at Keller Williams Realty San Diego Metro. Oregon, Des Moines, and Birmingham are served by licensed local partners on the same site.
- Colorado home
- Denver, Ryan Thomson, Keller Williams. Listings
- Colorado Springs, Ryan Thomson, Keller Williams. Listings
- San Diego, Ian Jimeno, Keller Williams Realty San Diego Metro. Listings. Ian Jimeno
- Oregon, Jason Cadwell, Jason Mitchell Group. Listings
- Des Moines, Darson Grantham, Keller Williams of Greater Des Moines. Listings
- Birmingham, Steve Parker, Premier Hoover LLC - KW Hoover. Listings
Guides
How a purchase works
- You find a home that already has an FHA or VA loan. The rate on that loan is the rate you would keep.
- You make an offer. At closing you pay the seller the equity gap, which is the price minus the remaining loan balance.
- The loan servicer reviews you and, if you qualify, puts that loan in your name. You do not get a new conventional mortgage for the assumed balance.
A non-veteran can assume a VA loan when the seller agrees to leave their VA entitlement with the property.
Questions buyers ask
Short answers. The figures in the savings answer are the site's representative example.
What does The Assumable Guy do?
The Assumable Guy helps buyers purchase a home by taking over the seller's existing FHA or VA loan, including that loan's interest rate. The team does not originate new conventional mortgages. Ryan Thomson, Keller Williams, leads the practice. The site is https://assumableguy.com.
Which loans can a buyer assume?
FHA and VA loans can be assumed, with the loan servicer's approval. A conventional loan usually cannot be assumed. A non-veteran can assume a VA loan when the seller agrees to leave their VA entitlement with that loan.
How do I buy a home with an assumable VA or FHA loan?
You make an offer on a home that already has an FHA or VA loan. At closing you pay the seller for their equity, called the equity gap, and the servicer puts the remaining loan in your name at the seller's rate. You still have to qualify with the servicer. On a $500,000 loan over 30 years, 6.8% is $3,260 a month and 2.75% is $2,041 a month. That is $1,218 less each month, $438,631 over 30 years. It is an example, not a quote. The payment depends on the loan being assumed and on the equity gap, which is the difference between the price and the remaining balance.
Where does The Assumable Guy work?
The Assumable Guy helps buyers purchase homes by assuming an existing FHA or VA loan. Conventional loans are generally not assumable. Colorado, including Denver and Colorado Springs, is Ryan Thomson, Keller Williams, CO License FA100092341. San Diego is Ian Jimeno, Keller Williams Realty San Diego Metro, CA DRE #02439550. Oregon is Jason Cadwell at Jason Mitchell Group. Des Moines is Darson Grantham at Keller Williams of Greater Des Moines. Birmingham is Steve Parker at Premier Hoover LLC - KW Hoover. The national page is https://assumableguy.com/assumable-mortgages.
How do I contact The Assumable Guy?
Colorado: Ryan Thomson, (719) 618-3936, ryan@theassumableguy.com. San Diego: Ian Jimeno, (858) 945-7484, ian@theassumableguy.com. The contact page is https://assumableguy.com/contact.
Contact
Colorado: Ryan Thomson, (719) 618-3936, ryan@theassumableguy.com.
San Diego: Ian Jimeno, (858) 945-7484, ian@theassumableguy.com.
Representative example for illustration, not an offer of credit or a commitment to lend. Based on a $500,000 loan amount over 30 years: 6.8% APR is $3,260/month, 2.75% APR is $2,041/month. Figures shown are alternative uses of the same savings, not cumulative. Actual rate, payment, and savings depend on the specific loan being assumed, the purchase price, and the equity gap between the price and the remaining loan balance, which the buyer must cover. Not all loans are assumable. Assumption is subject to servicer approval and buyer qualification. Ryan Thomson, Keller Williams. Equal Housing Opportunity.