More buyers are taking over sellers' FHA and VA loans than at any time in years. The national numbers are still small, but they are climbing fast, and Arizona has thousands of homes for sale that may come with a loan a buyer can take over. Here is what the data shows, what it doesn't show, and what it means if you're shopping for a home here.

The short version

  • FHA says it handled 5,861 loan assumptions in 2024, up from 2,578 in 2022, an increase of about 127%.
  • VA processed 2,244 assumptions in 2023, up from just 308 the year before.
  • FHA and VA together handled about 6,400 assumptions in 2023, more than double 2022.
  • Right now about 2,250 Arizona homes for sale may come with an FHA or VA loan a qualified buyer could take over (my weekly estimate).

Why assumptions took off

An assumption lets a buyer take over the seller's existing home loan, including its interest rate and remaining term, instead of getting a brand-new mortgage. For most of the last decade almost nobody bothered, because new loans cost about the same as old ones. Once rates on new loans climbed in 2022, the math changed. A buyer who can step into a loan the seller locked in years ago may end up with a noticeably lower monthly payment than a new loan for the same amount.

That is exactly what happened to me. In 2023 I bought my own home by assuming the seller's FHA loan instead of taking out a new one, so I know this process from the buyer's side, paperwork and all.

What the numbers show

There is no single public database that tracks every mortgage assumption in the country. Assumptions are handled one by one by the companies that service each loan, so the best figures come from the agencies themselves and from industry reporting:

  • FHA: 2,578 assumptions in 2022 and 5,861 in 2024, according to the Federal Housing Administration (reported by Homes.com, July 2025).
  • VA: 308 assumptions in 2022 and 2,244 in 2023 (reported by Inside Mortgage Finance, March 2024).
  • FHA and VA combined: about 6,400 in 2023, more than double 2022 (Wall Street Journal figures, reported by HousingWire, February 2024).

USDA loans can be assumed too, but recent USDA figures haven't been published in the same way. Conventional loans backed by Fannie Mae and Freddie Mac, which make up nearly two-thirds of the mortgage market, generally can't be assumed.

What the numbers don't show

Even after the jump, assumptions are still a small slice of all home sales. Part of that is supply: only FHA, VA and USDA loans qualify. Part of it is the process. Assumptions take more paperwork and more patience than a typical purchase, and buyers still have to qualify with the loan servicer. Complaints about slow assumptions rose too, which is one reason the VA told servicers in late 2023 that they should take no longer than 45 days to decide on an assumption request.

The other catch is cash. When you assume a loan, you usually pay the seller the difference between the price and the remaining loan balance. On a home that has gained a lot of value, that gap can be large. Some buyers cover it with savings, and some lenders offer a second loan for it.

What it means if you're buying in Arizona

Arizona has a lot of FHA and VA loans, and many of them were made when borrowing costs were much lower. Each week I match Arizona homes for sale against assumable loan data, and right now about 2,250 listings may come with an FHA or VA loan a buyer could take over. The biggest groups are in Phoenix, Mesa, Surprise, Buckeye, Maricopa and San Tan Valley.

A few tips if you want to try it:

  • Start with the right homes. See photos of Arizona homes that may have an assumable loan, sorted by city, FHA or VA, and price.
  • Confirm the loan early. The seller's mortgage statement and the servicer are the only reliable sources for the balance and terms.
  • Plan for the gap. Know how much cash you'd need to cover the difference between price and loan balance before you write an offer.
  • Talk to a lender. You still have to qualify, and a lender can tell you whether a second loan for the gap is an option.

New to the idea? Start with my plain-English guide, how assumable mortgages work in Arizona, then read my buyer resources.

Want help finding a home with an assumable loan?

I've done an assumption myself and I'll walk you through every step. Call or text Terry Day, DeLex Realty, at 602-483-4665.

Sources: Homes.com, July 17, 2025 (FHA figures); Inside Mortgage Finance, March 4, 2024 (VA figures); HousingWire, February 6, 2024 (combined 2023 figure, VA 45-day guidance). Arizona home count is my own weekly estimate from third-party loan data matched to active listings; it changes weekly. This article is general information, not a loan offer. Not all loans or sellers allow an assumption, and buyers must qualify and be approved by the loan servicer. Terry Day, DeLex Realty, is a real estate agent, not a lender.