Buy the Home, Ask About the Loan: How to Spot an Assumable Mortgage in Arizona

Stop paying over 7% for a mortgage. Use the cheat code.

The average 30-year fixed rate is about 7.32%, per Freddie Mac, week of October 22, 2026. One way around it: find a home where the seller's low-rate loan can come with the house. Shop for the home you want, then ask the listing agent one simple question: "Is the loan assumable?"

This is Day 2 of my 10-day Mortgage Cheat Code series. Start with Day 1, or jump straight to today's assumable homes at themortgagecheatcode.com.

Most buyers shop in this order: get a loan approval, find a house, and take whatever rate the market hands them that week. The cheat code flips one step. You still fall in love with the house first. But before you write the offer, you find out what kind of loan the seller already has, because sometimes that loan can stay with the home.

When I bought my Goodyear home in 2023, the house came first. The loan question came right after, and it changed everything about the payment. That's the habit I want you to build.

Which homes may have an assumable loan?

Not every loan can be taken over. The ones to look for are government-backed loans:

• FHA loans are commonly assumable when the loan servicer approves the buyer.
• VA loans can be assumed by a qualified buyer, and you don't always have to be a veteran (more on that on Day 5).
• USDA loans can be assumable when the buyer meets the program's eligibility rules.

Most conventional loans are a different story. They usually can't be taken over by a new buyer, outside a few family situations like a divorce or an inheritance.

Timing matters just as much as loan type. The sweet spot is a home bought or refinanced from about 2020 to mid-2023. That's when rates were at historic lows: Freddie Mac's 30-year average hit a record low of 2.65% in the first week of January 2021. A seller who locked in during that window may be holding a loan today's buyers would love to have.

The questions I ask the listing agent

When a home fits, I call the listing agent before we write anything. Here's my short list:

1. What type of loan does the seller have? FHA, VA, USDA or conventional.
2. Who is the loan servicer? That's the company that collects the payments and decides on the assumption.
3. About how much is left on the loan? The gap between the price and the balance is cash you'll need to cover (that's Day 4).
4. Is the seller open to an assumption? It takes longer than a normal sale, so the seller has to be on board.
5. If it's a VA loan, does the seller care about their entitlement? Some sellers want it restored so they can use VA again.

A good listing agent can usually answer the first four in one call. If they don't know, a recent mortgage statement from the seller answers most of it.

Why the MLS often gets it wrong

You'd think a listing would just say "assumable loan." Many don't. The loan fields on a listing are filled in by hand, they're optional, and plenty of agents leave them blank or never think to ask the seller. So a blank field doesn't mean no, and a "yes" still has to be checked.

How my assumable homes page finds them

That's why I built themortgagecheatcode.com to start from county records instead of the MLS. It looks at active listings in Maricopa and Pinal counties where the seller bought with an FHA or VA loan from 2020 to mid-2023, based on what was recorded with the county. Public records show the loan type, when it was recorded and its original amount.

The page then gives you a starting point: estimates you can see once you create a free account. They're estimates, not offers. Nothing is final until the seller's statement and the servicer confirm the numbers, and the page marks a home "Verified" only after that happens. You can filter by city, loan type and price, sort by biggest estimated savings, or browse the map.

Want the full background first? Read how assumable mortgages work in Arizona.

Questions people ask

Can I tell if a loan is assumable just from the listing?
Not reliably. The MLS loan fields are optional and often blank or wrong, so the safest move is to ask the listing agent and confirm with the servicer.

Do I need my own lender if I'm assuming a loan?
Often yes, at least for advice. The seller's servicer approves you, but if you need extra financing to cover the gap between price and balance, a lender helps you see whether that's possible.

Does the seller have to agree?
Yes. An assumption usually takes longer than a regular closing, so the seller needs to be willing, and the terms belong in the purchase contract.

Are newer homes ever assumable?
They can be. What matters is the seller's loan type and when it was made, not the age of the house.

Yesterday was Day 1, where the name came from. If you're ready to dig into the steps, my guide on how to buy a home with an assumable loan walks through the process.

Tomorrow: Day 3, "The rate is only part of the story."

The rate shown is the national average 30-year fixed rate from Freddie Mac's Primary Mortgage Market Survey for the week of October 22, 2026, not a quote. Your rate depends on your credit, loan type and lender. Assumption approval is decided by the loan servicer, and buyers must qualify. Subject to lender approval and loan terms. Terry Day is a real estate agent, not a lender. Equal Housing Opportunity. My rate and savings are from my own October 2023 purchase as reported by ABC15 and Business Insider; not a quote or a promise.

Terry Day, REALTOR®, DeLex Realty, 10115 E Bell Rd, Scottsdale, AZ 85260.