Introducing the New Assumable Mortgages Lead List!

Q: What is the Assumable Mortgages Lead List, and where do I find it?

It's a new Lead List in the Filters menu on both the Search page and the My Properties page. Look under Lead Lists — it's first alphabetically, labeled Assumable Mtg.

Q: Can I narrow the list down further?

Yes — all existing PropStream filters work on top of it. Note: When we say "all existing filters," other Lead Lists are not included in that description. Only one Lead List can be applied at a time.

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PropStream is excited to share the newest addition to the Lead List library (bringing the Lead List count to 21): Assumable Mortgages!

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What is an assumable mortgage?

An assumable mortgage is a home loan that allows a qualified buyer to take over the seller's existing mortgage, including its remaining balance, interest rate, repayment term, and monthly payment, instead of obtaining a brand-new loan.

This can be especially attractive when current mortgage rates are higher than the seller's existing rate.

Before the addition of this new Lead List, users could locate assumable mortgages in PropStream. However, that required strategic filter stacking and extensive knowledge of assumable mortgages.

Now, investors can jump right in and start finding leads with an assumable mortgage in seconds via the convenient new Lead List option!

Let’s explore this new Lead List in greater detail.

Where to Find the New Assumable Mortgages Lead List

After logging into PropStream, open the Filters menu.

filter menu in PropStream

Navigate to the Lead List tab, and you will see Assumable Mtg. as the first option in the menu.

PropStream lead list menu with assumable mortgages lead list

Lead List Information Bar

When viewing search results from the Assumable Mortgages Lead List, the custom Lead List Information Bar displayed on both the Search Tile and Map Card displays the following information:

Loan Type
Estimated Loan Balance
Estimated Interest Rate

These values are intended to explain why the property appears within the Lead List and help users quickly evaluate the financing opportunity.

What Makes a Property Show Up on the Assumable Mortgages List?

To qualify for inclusion in the Assumable Mortgages Lead List, a property must meet specific criteria regarding its active financing:

Required Loan Types: All existing open mortgages must be government-backed loans, specifically FHA, VA, or USDA loans.
Active Loan Requirement: The property must have at least one active open loan.
Exclusion Criteria: Any property financed via a conventional loan will be disqualified from the list.

Assumable Mortgage Example Scenario

Imagine a homeowner purchased a house in 2021 with a 3% fixed-rate FHA loan. They decide to sell in 2026, when new mortgage rates are around 6.5%.

Instead of taking out a new 6.5% mortgage, a qualified buyer may be able to assume the seller's 3% loan.

For example:

Home purchase price: $500,000
Remaining mortgage balance: $350,000
Existing interest rate: 3%
Buyer assumes the $350,000 mortgage.
Buyer pays the seller the remaining $150,000 in cash or a second loan.

The buyer benefits from the lower interest rate, while the seller may have a unique selling point in a high-rate environment.

Explore the New Assumable Mortgages Lead List Option

Why settle for a high interest rate when you could potentially secure a lower one?

Our new Assumable Mortgages Lead List makes it easier than ever to find these hidden opportunities. Log in to your PropStream account now to explore, or start your 7-day free trial today.

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Frequently-Asked Questions (FAQs)

What is the Assumable Mortgages Lead List, and where do I find it?

It's a new Lead List in the Filters menu on both the Search page and the My Properties page. Look under Lead Lists — it's first alphabetically, labeled Assumable Mtg.

What criteria makes a property show up on this list?

Every open loan on the property has to be an FHA, VA, or USDA loan. If there's a conventional second, the property is excluded. The property must also have at least one open loan.

Does this mean the mortgage is definitely assumable?

No. These are loan types commonly eligible for assumption, but any actual assumption requires lender approval and buyer qualification.

What information do I see in the results?

Loan Type, Estimated Loan Balance, and Estimated Interest Rate, shown on both the Search Tile and the Map Card.

Can I narrow the list down further?

Yes — all existing PropStream filters work on top of it.

Note: When we say "all existing filters," other Lead Lists are not included in that description. Only one Lead List can be applied at a time.

How is this different from just filtering for the loan types mentioned above (FHA, VA, USDA)?

Two ways.

USDA wasn't filterable before
The Assumable Mortgage Lead List requires all open loans to qualify rather than matching on any one loan.