What is the mortgage assumption process?

If you would like to explore an assumption for your mortgage, here's an overview of our process and what to expect. In total, the assumption process may take up to 90 days.

1. Contact Customer Care by secured message (log in required), email, or phone to initiate the request.

2. We'll review your loan against the eligibility requirements described above and notify you within 10 business days.

3. To qualify, a potential buyer must complete a basic underwriting process (a credit report fee for the potential buyer may apply).

   • When the potential buyer is identified, contact us to provide their name, address, phone number and email address. We will provide a Third Party Authorization Form for you to sign and return to us, which will allow us to discuss your mortgage with the potential buyer.

   • We will reach out to you and your potential buyer to let you know if eligible and to request any additional information needed to process the assumption.

   • If eligible, an assumption package detailing the terms of the agreement will be sent to the potential buyer, which must be signed, notarized, and returned to us according to the instructions provided. Non-refundable processing fees may be collected from the proposed buyer to process the assumption. These fees, which may vary based on loan type and/or state law, will be specified in the assumption package and collected with the application.