Save thousands of dollars by buying a San Diego home with an Assumable Loan at under 3.5%. 

In today’s 6 to 7 percent mortgage-rate world, buyers are looking for creative ways to reduce monthly payments. One of the most effective and least-known options in San Diego real estate is the ability to assume an existing FHA or VA loan with a low interest rate — often in the 3 percent range.

When you assume a seller’s FHA loan, you take over their existing mortgage — same balance, term, and low interest rate — instead of starting a new, higher-rate loan. For qualified buyers, this can mean saving hundreds of dollars each month and tens of thousands over time.

What You Can Save on a $500,000 Loan

Here’s an example of how much lower the payment can be when you assume a low-rate loan:

• At 6.25% interest rate: about $3,078 per month
• At 3.375% interest rate: about $2,210 per month

That’s a difference of roughly $868 per month, or more than $10,000 per year, simply by assuming the lower-rate loan instead of taking out a new mortgage at today’s rates.

Example: 450 J Street, San Diego (Gaslamp Quarter)

This downtown condo has an assumable FHA loan at 3.375%, available to qualified buyers. It’s an opportunity to live in one of San Diego’s most vibrant neighborhoods while keeping your monthly payment much lower than it would be with a new loan at today’s rates. All assumptions are subject to FHA and lender approval.

View 450 J Street Details

How FHA and VA Assumable Loans Work

When you assume an FHA or VA loan, you take over the seller’s existing loan balance and rate. You’ll still need to qualify financially, just like with a standard loan, but instead of a new rate and term, you assume the seller’s existing one. If the home’s value is higher than the remaining loan balance, you may need cash or a small second loan to cover the difference in equity.

The benefit is clear: you keep the seller’s lower rate in a higher-rate market. Many FHA and VA loans originated between 2020 and 2022 have interest rates below 3.5 percent, while new loans today are often over 6 percent.

Thinking About Selling? Get a Full Market Value Cash Offer

While buyers can take advantage of assumable loans, sellers have an equally powerful opportunity. My Full Market Value Cash Offer Program allows San Diego homeowners to sell their property without the stress of open houses, repairs, or lowball investor offers.

Unlike traditional flippers who buy low and resell high, my investor partners typically pay full market value because they plan to keep the property as a long-term rental. That means you can sell your home quickly and still receive a strong price.

• No open houses or showings
• No repairs or upgrades needed
• Close quickly and sell as-is
• Available only for off-market properties not listed with another agent

If you’d like to know if your home qualifies for this program, call or text me directly at 619-846-1244, or click below to see details.

See If Your Home Qualifies

Next Steps

• Buyers: Get the Assumable Loan Hotlist (under 3.5%)
• Sellers: Find out if you qualify for a Market Value Cash Offer
• Call or Text: 619-846-1244 for details