![A younger man shakes hands with his grandfather after taking on an assumable mortgage from him.](https://creditkarma-cms.imgix.net/wp-content/uploads/2024/03/assumable-mortgage-1420320119.jpg?w=1024)
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What is an assumable mortgage?
If you’re shopping for a home while interest rates are high, you might consider buying a property with an assumable mortgage. An assumable mortgage is a mortgage that a seller can hand over to a buyer. Instead of applying for a new loan to finance their home purchase, the buyer can take responsibility for paying […]