### Frequently Asked Questions

### Contact Us

Have a burning question? Want to learn more about assumable loans or how the process works?

Call or Text us: ‭(858) 867-8905‬  
Send us an email: [support@retrorate.com](mailto:support@retrorate.com)

### Getting Started

- What is a mortgage assumption?
- What types of mortgages can be assumed?
- Why would a buyer choose a mortgage assumption?
- How does mortgage assumption differ from getting a new mortgage?
- Who qualifies for a mortgage assumption?
- Does RetroRate approve me for the loan assumption?
- What are the costs associated with a mortgage assumption?
- How long does the mortgage assumption process take?
- Can the seller or buyer negotiate terms during a mortgage assumption?

### For Buyers

- How do I know if a mortgage is assumable?
- What documents do I need to provide for a mortgage assumption?
- Do I need a down payment for a mortgage assumption?
- How do I apply for a mortgage assumption?
- Will I need to pay private mortgage insurance (PMI) after the assumption?
- Will the interest rate on the assumed mortgage stay the same?
- Can I assume a mortgage if I have bad credit?
- Are there limits on how much I can borrow with a mortgage assumption?

### For Sellers

- Why should I offer mortgage assumption as an option when selling my home?
- Can I sell my home at a higher price if the mortgage is assumable?
- How do I confirm that my mortgage is assumable?
- What is my responsibility in the mortgage assumption process?
- What happens to my liability after the buyer assumes my mortgage?
- Will the assumption process delay the sale of my home?
- Do I need to notify my lender about the assumption?
- How does the remaining loan balance affect the sale price?

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