Unlocking Assumable Loans: How Buyers in SoCal Can Score Big
- Andrew Georgitsis
- Oct 28
- 2 min read
Updated: Oct 30
The smart way to step into a low-rate mortgage and save on your monthly payment.
When interest rates climbed, many homebuyers feared they’d missed their chance. But there’s a little-known tool that savvy buyers in Southern California are using to gain an edge: assumable loans.
What is an Assumable Loan?
An assumable loan lets a buyer take over the existing mortgage of the seller — including the rate, remaining term, and balance — rather than starting new credit at current higher rates. It’s common with some loan types and increasingly relevant as rates remain elevated.
Why It Matters in SoCal
In markets like Temecula, Murrieta, Menifee, Carlsbad and Oceanside, competition is still high and buyers want every advantage. By stepping into a low-rate loan someone else locked in, you boost affordability or free up budget for upgrades or a bigger home.
Example From My Video
In the video, I walk through a real-world scenario: a seller with a 3.x % mortgage on a $600K home… the buyer assumes that loan instead of financing at today’s ~6 %-plus rate. Over the lifetime of the loan it adds up. That’s extra monthly savings, extra flexibility, and less interest paid overall. Click Here to watch on youtube.
What Buyers Should Ask
Is the seller’s loan assumable (check the type: FHA, VA, etc.)?
What is the remaining balance, rate, term and what fees does the lender charge?
How much equity does the seller have (you may need to bring cash to cover difference)?
What’s my financial strength (lender still needs to approve you)?
What closing costs, approval process and timeline will this involve?
What Sellers Should Know
If you have an assumable loan, you can market that as a feature: “Low-rate loan can be assumed by buyer.” That can attract more buyers and maybe yield a smoother sale. But always consult your listing agent so you understand the lender’s rules and potential release of liability.
How SoCal Realty & Investments Can Help
We help both buyers and sellers navigate this niche opportunity:
Identifying assumable loans in the market
Structuring the deal so all parties benefit
Ensuring lender approval and avoiding surprisesIf you’re ready to explore how an assumable loan could work for you, let’s talk.
📞 866-322-5487 ·
Andrew Georgitsis | DRE #02266192
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