assumable

American  

[uh-soo-muh-buhl] / əˈsu mə bəl /

adjective

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

   Assumable mortgages are hard to find these days.

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Other Word Forms

• assumability noun
• assumably adverb
• unassumable adjective

Etymology

Origin of assumable

First recorded in 1775–85; assume + -able

Example Sentences

We closed or merged 1,400 savings-and-loan associations in the 1980s largely because the risk embedded in consumer-friendly 30-year fixed-rate assumable mortgages made at 7% detonated in the hands of the S&Ls when rates rocketed to 21.5%.

From The Wall Street Journal

The only solutions he mentioned were assumable mortgages and portable mortgages.

From Los Angeles Times

The Federal Home Finance Agency is evaluating options like assumable and portable mortgages to address housing affordability.

From Barron's

Assumable mortgages allow buyers to take over a seller’s existing loan, potentially at a lower interest rate.

From Barron's

Expanding the use of assumable loans—which are currently available with some government-backed mortgages—to loans backed by Fannie Mae and Freddie Mac would allow a buyer to take on a seller’s mortgage.

From Barron's