assumable

[uh-soo-muh-buhl]

adjective

1. capable of being assumed, as an office or an obligation.

   Assumable mortgages are hard to find these days.

Other Word Forms

• assumability noun
• assumably adverb
• unassumable adjective

Word History and Origins

Origin of assumable¹

First recorded in 1775–85; assume + -able

Example Sentences

She found her home through Roam, a start-up that went live in September that lists homes with assumable low-rate loans, and assists buyers through the process.

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Last popular in the 1980s, when mortgage rates topped 18 percent, many real estate professionals are unaware that assumable mortgages are even possible.

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But as mortgage rates continue to rise, word is spreading. Realtor.com, a home listing website, recently started tagging assumable properties and making them searchable.

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Earlier this year, however, she stumbled upon what felt like a portal to the not-so-distant past: listings of thousands of homes that come with a low-rate mortgage, which can be transferred from the existing homeowner to a new home buyer, known as an assumable mortgage.

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Redfin, the real estate brokerage, has seen a steep rise in listings like Mr. Kilboy’s that have comments like “beautiful home with assumable loan at 3.25 percent.”

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