Assumable mortgage calculator
What would you pay if you took over the seller's loan?
Compare assuming an existing FHA or VA loan (plus any gap financing) with a brand-new mortgage at today's rate. Estimates only — edit any number.
The home and the seller's loan
Your money
Assuming the seller's loan would cost you about
$0 less per month
| Each month | Assume the loan | New loan |
|---|---|---|
| Assumed loan (principal & interest) | — | — |
| Gap loan (principal & interest) | — | — |
| Mortgage insurance | — | — |
| New 30-year loan (principal & interest) | — | — |
| Total monthly payment* | — | — |
| The bigger picture | Assume the loan | New loan |
|---|---|---|
| Blended interest rate | — | — |
| Cash needed at closing (before closing costs) | — | — |
| Interest paid in the first 5 years | — | — |
| Total interest to payoff | — | — |
*Principal, interest and mortgage insurance only. Taxes, HOA and homeowners insurance are the same either way and are left out.
Estimates for planning only, not a loan offer or approval. Assumptions must be approved by the seller's loan servicer; FHA and VA have their own qualifying rules, and a VA assumption adds a 0.5% funding fee for most buyers. Johanna Graff is a licensed real estate agent with My Home Group (License SA653075000), not a lender. Equal Housing Opportunity.
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