Assumable is a nationwide platform that enables homebuyers to search for properties with FHA and VA assumable mortgages, allowing them to take over existing loans at historically low interest rates. This approach helps buyers save thousands on monthly payments and significantly reduces overall interest costs compared to current market rates.
Funding
Funding not disclosed
Founders
Product
Problem
In a high-interest rate environment, many prospective homebuyers are priced out of the market due to rising mortgage payments and overall interest costs. Finding homes with existing low-interest mortgages to assume is difficult and time-consuming.
Solution
Assumable is a nationwide platform that aggregates and lists properties with FHA and VA assumable mortgages, enabling homebuyers to take over existing loans at historically low interest rates. The platform's proprietary data model identifies homes with assumable mortgages, providing details such as the existing interest rate, principal and interest payment, and potential interest savings. Assumable also offers services to guide buyers and sellers through the assumption process, ensuring a smooth transaction. By connecting buyers with assumable mortgages, Assumable aims to make homeownership more affordable and accessible.
Target Audience
The primary audience includes homebuyers seeking lower interest rates and affordable mortgage payments, as well as sellers looking to attract more buyers by marketing their assumable mortgages. Real estate agents can also benefit by leveraging the platform to assist their clients in finding or selling homes with assumable loans.
Features
- Nationwide search for homes with FHA and VA assumable mortgages
- Proprietary data model to identify and verify assumable mortgages
- Listing details include estimated interest rate, P&I payment, and potential savings
- Streamlined assumption process with expert guidance
- Resources and support for buyers, sellers, and agents
- Chrome extension for easy access to assumable mortgage listings