In this episode of The Brutally Honest Loan Officers Podcast, Stephen Brock and Derick Brown pull back the curtain on assumable mortgage loans. With today’s higher interest rates, many buyers wonder if they can simply take over the seller’s loan — and sometimes, the answer is yes.
We break down:
<ul>
<li>
Which loans are actually assumable (hint: FHA, VA, USDA… but not conventional).
</li>
<li>
The real benefits — like inheriting a 2% or 3% rate and saving on closing costs.
</li>
<li>
The roadblocks that can kill the deal, from big equity gaps to VA entitlement issues.
</li>
<li>
Why the process can drag out longer than expected.
</li>
</ul>
If you’re a buyer hoping to score a lower rate or an agent with a listing that needs an edge, understanding mortgage assumptions could be a game-changer.

In this episode of The Brutally Honest Loan Officers Podcast, Stephen Brock and Derick Brown pull back the curtain on assumable mortgage loans. With today’s higher interest rates, many buyers wonder if they can simply take over the seller’s loan — and sometimes, the answer is yes. We break down: Which loans are actually assumable (hint: FHA, VA, USDA… but not conventional). The real benefits — like inheriting a 2% or 3% rate and saving on closing costs. The roadblocks that can kill the deal, from big equity gaps to VA entitlement issues. Why the process can drag out longer than expected. If you’re a buyer hoping to score a lower rate or an agent with a listing that needs an edge, understanding mortgage assumptions could be a game-changer.

Can You Really Assume a Mortgage?

”The Brutally Honest Loan Officers: The Unfiltered Mortgage Minds” is a refreshingly candid podcast hosted by two seasoned mortgage lenders, Stephen Brock NMLS 1926015 and Derick Brown NMLS 1640146, from The Mortgage Firm. This podcast cuts through the jargon and complexity of the mortgage industry, offering unfiltered insights and straightforward advice. Each episode delves into the often-overlooked aspects of mortgage lending, from navigating market trends to understanding credit scores. Our hosts bring their extensive experience and a touch of humor to demystify the mortgage process for consumers and realtors alike. Whether you’re a first-time homebuyer, a seasoned investor, or a real estate professional seeking to enhance your knowledge, this podcast is your go-to source for honest, actionable mortgage wisdom. Join us as we break down the walls of the lending world, one truth at a time.  

The Mortgage Firm  NMLS 189233 Equal Housing Lender
NC License # I-219794

CONSUMERS WISHING TO FILE A COMPLAINT AGAINST A MORTGAGE BANKER OR A LICENSED MORTGAGE BANKER RESIDENTIAL MORTGAGE LOAN ORIGINATOR SHOULD COMPLETE AND SEND A COMPLAINT FORM TO THE TEXAS DEPARTMENT OF SAVINGS AND MORTGAGE LENDING, 2601 NORTH LAMAR, SUITE 201, AUSTIN, TEXAS 78705. COMPLAINT FORMS AND INSTRUCTIONS MAY BE OBTAINED FROM THE DEPARTMENT’S WEBSITE AT WWW.SML.TEXAS.GOV. A TOLL-FREE CONSUMER HOTLINE IS AVAILABLE AT 1-877-276-5550. THE DEPARTMENT MAINTAINS A RECOVERY FUND TO MAKE PAYMENTS OF CERTAIN ACTUAL OUT OF POCKET DAMAGES SUSTAINED BY BORROWERS CAUSED BY ACTS OF LICENSED MORTGAGE BANKER RESIDENTIAL MORTGAGE LOAN ORIGINATORS. A WRITTEN APPLICATION FOR REIMBURSEMENT FROM THE RECOVERY FUND MUST BE FILED WITH AND INVESTIGATED BY THE DEPARTMENT PRIOR TO THE PAYMENT OF A CLAIM. FOR MORE INFORMATION ABOUT THE RECOVERY FUND, PLEASE CONSULT THE DEPARTMENT’S WEBSITE AT WWW.SML.TEXAS.GOV.

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”The Brutally Honest Loan Officers: The Unfiltered Mortgage Minds” is a refreshingly candid podcast hosted by two seasoned mortgage lenders, Stephen Brock NMLS 1926015 and Derick Brown NMLS 1640146, from The Mortgage Firm. This podcast cuts through the jargon and complexity of the mortgage industry, offering unfiltered insights and straightforward advice. Each episode delves into the often-overlooked aspects of mortgage lending, from navigating market trends to understanding credit scores. Our hosts bring their extensive experience and a touch of humor to demystify the mortgage process for consumers and realtors alike. Whether you’re a first-time homebuyer, a seasoned investor, or a real estate professional seeking to enhance your knowledge, this podcast is your go-to source for honest, actionable mortgage wisdom. Join us as we break down the walls of the lending world, one truth at a time. The Mortgage Firm NMLS 189233 Equal Housing Lender NC License # I-219794 CONSUMERS WISHING TO FILE A COMPLAINT AGAINST A MORTGAGE BANKER OR A LICENSED MORTGAGE BANKER RESIDENTIAL MORTGAGE LOAN ORIGINATOR SHOULD COMPLETE AND SEND A COMPLAINT FORM TO THE TEXAS DEPARTMENT OF SAVINGS AND MORTGAGE LENDING, 2601 NORTH LAMAR, SUITE 201, AUSTIN, TEXAS 78705. COMPLAINT FORMS AND INSTRUCTIONS MAY BE OBTAINED FROM THE DEPARTMENT’S WEBSITE AT WWW.SML.TEXAS.GOV. A TOLL-FREE CONSUMER HOTLINE IS AVAILABLE AT 1-877-276-5550. THE DEPARTMENT MAINTAINS A RECOVERY FUND TO MAKE PAYMENTS OF CERTAIN ACTUAL OUT OF POCKET DAMAGES SUSTAINED BY BORROWERS CAUSED BY ACTS OF LICENSED MORTGAGE BANKER RESIDENTIAL MORTGAGE LOAN ORIGINATORS. A WRITTEN APPLICATION FOR REIMBURSEMENT FROM THE RECOVERY FUND MUST BE FILED WITH AND INVESTIGATED BY THE DEPARTMENT PRIOR TO THE PAYMENT OF A CLAIM. FOR MORE INFORMATION ABOUT THE RECOVERY FUND, PLEASE CONSULT THE DEPARTMENT’S WEBSITE AT WWW.SML.TEXAS.GOV.

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