Assumable Mortgage Homes for Sale in Memphis, Tennessee (TN)
Search active homes in Memphis, TN with low-rate assumable FHA, VA, and USDA loans (2.25%–4.25%). Use our interactive equity gap and 2nd-loan calculator to slide your down payment, estimate local property taxes (Memphis Area · 0.64%/yr), and get quotes from lenders serving Memphis.
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Assumable Mortgage Scenarios in Memphis & Tennessee
View All Live Listings in Memphis, TN →Frequently Asked Questions: Assumable Loans in Memphis, TN
Which loans are assumable in Memphis, TN?
All government-insured FHA, VA, and USDA residential mortgages in Memphisare assumable under federal guidelines, allowing a qualified buyer to take over the seller's interest rate and remaining loan balance.
How do Memphis buyers finance the equity gap?
If a home in Memphis is listed at $475,000 with a $315,000 assumable balance, the equity gap is $160,000. You can either bring cash or pair the 1st mortgage with a 2nd-position loan from participating Memphis lenders so you only bring 5%–10% down.