Home prices are up, rates are up, and most buyers assume that means they're priced out. But some homes still carry a mortgage from 2020 or 2021 — with a rate of 3%, 2%, sometimes even lower — and in the right circumstances, a qualified buyer can simply take it over. It's called a mortgage assumption, and it might be the most underused tool in real estate right now.

In this episode of Selling St. Pete, host Nicole Saunches sits down with Nora Simpson, Head of Education at AssumeList, for "Mortgage Assumption 101." Nora breaks down which loans are actually assumable (VA, FHA, and USDA), how buyers can bridge the equity gap with as little as 10% down, why sellers with an assumable mortgage may be sitting on a goldmine for their sale price, and how AssumeList closes assumptions in 60 days or less with a perfect approval track record. Nora also joins Nicole for a rapid-fire "Myth or Fact" segment, busting six of the most common misconceptions about mortgage assumptions.

In this episode:

• What a mortgage assumption actually is (and how it differs from "creative financing")
• Which loan types qualify — VA, FHA, and USDA — and the nuances of each
• How buyers cover the equity gap with a second mortgage and as little as 10% down
• Why assumable listings can spark bidding wars and drive prices above list
• The #1 reason assumptions stall (hint: it's not the loan type)
• Six mortgage assumption myths, debunked

Guest: Nora Simpson, Head of Education at AssumeList. Daily live Q&A, Monday–Friday, 11am ET / 8am PT at assumelist.com. Registration: homes.assumelist.com/learn. Email: nora@assumelist.com.

Host: Nicole Saunches, Selling St. Pete — an AssumeList-trained agent serving the St. Petersburg–Tampa area.

🎧 Listen to the full episode: https://player.captivate.fm/episode/8949653c-340c-41ab-81d4-95a2089af562/ Also available on Spotify and Apple Podcasts.