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

And the White House, which oversees Fannie Mae and Freddie Mac — the two enterprises that back most U.S. mortgages — continues to push the idea of portable and assumable mortgages.

From Los Angeles Times

Making mortgages portable and assumable.

From MarketWatch

Federal Housing Finance Agency Director Bill Pulte has said he is looking at making mortgages assumable, meaning a new buyer could take over a homeowner’s current mortgage and its rate, as well as portable, meaning that a homeowner could take their current mortgage rate with them when they move to a new house.

From MarketWatch

Mortgages financed through Federal Housing Authority or Department of Veterans Affairs are “assumable,” meaning they can be taken over by qualified buyers.

From The Wall Street Journal

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