Intro:

In an insightful new article featured by Kron4, Andi DeFelice, owner and broker at Exclusive Buyer’s Realty (EBR Savannah), explores the limitations of assumable mortgages and shares essential guidance for today’s homebuyers. Discover why this once-attractive financing option may not always be the shortcut it appears to be—and how working with an exclusive buyer’s agent like Andi can save you time, money, and headaches. View the original article posted by EIN Presswire on Aug 21, 2025.

7 Key Highlights from the Article:

1. Rising Appeal Meets Growing Frustration
   
   With mortgage rates hovering above 6–7%, assumable mortgages are getting attention as a way to lock in lower, pre-existing rates. Still, the assumption process is often slow and complex, with many lenders lacking the expertise or incentive to handle it efficiently.
   
   
2. Homebuyers Pay More Than Just the Mortgage
   
   Buyers assuming a lower-rate loan must still cover any equity the seller has built up—either via cash or a second mortgage—potentially increasing overall costs.
   
   
   
3. Low Inventory and Complex Process
   
   Assumable loans are rare—just 0.4% of U.S. listings are advertised as such, more commonly found in markets with strong military presence due to VA loans.
   
   
4. Government Loans Make Assumptions Possible—but Not Easy
   
   FHA, VA, and USDA loans are generally the only types that allow assumptions. However, many newer VA and FHA loans still demand buyer creditworthiness and lender approval.
   
   
5. The Hidden Costs & Delays
   
   The lender’s processing fees might appear modest (e.g., up to $1,800), but delays—sometimes prolonged by slow snail-mail communication or bureaucratic roadblocks—can stretch closing timelines significantly.
   
   
6. Potential Benefits Remain Strong
   
   Despite the drawbacks, assumable loans can save buyers tens of thousands in interest. Studies show homes with assumable mortgages may sell faster and at higher prices, benefiting sellers too.
   
   
   
7. Lock-In Effect & Market Mobility
   
   High mortgage rates are discouraging homeowners from selling (the “lock-in effect”), which tightens inventory. Enabling more assumable mortgages could help free up housing stock and energize market activity.
   
   
   

Why an Exclusive Buyer’s Agent Matters:

As the only firm in the Savannah area solely representing homebuyers, EBR Savannah offers unmatched guidance—especially in complex scenarios like assumable mortgages. Andi DeFelice and her team can:

• Clarify eligibility and lender requirements.
  
  
• Help navigate dual-financing scenarios (assumption plus second mortgage).
  
  
• Expedite lender communications and resolve slow-moving applications.
  
  
• Provide strategic insights to weigh the short- and long-term implications.
  
  

Takeaway:

Assumable mortgages can be an attractive alternative in a high-rate environment—but they come with significant caveats: equity gaps, lender delays, limited inventory, and added legwork. With an experienced ally like Andi DeFelice on your side, you’ll have a trusted partner guiding you through whether an assumable mortgage makes sense for your situation—or helping you find a better, smoother path to homeownership.

Call to Action:

Exploring homeownership in Savannah’s dynamic market? Whether you’re curious about assumable mortgages or want to understand all your financing options, Andi DeFelice and the team at EBR Savannah are here to guide you. As Savannah’s exclusive buyer’s agency, we focus solely on protecting homebuyers—helping you navigate today’s competitive market with confidence.

Connect with us today to learn how we can help you find and secure the right home in Savannah and the surrounding Lowcountry communities.

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