Are conventional loans assumable?
Generally no. Most conventional loans contain a 'due-on-sale' clause that makes the loan immediately payable if the property changes hands. Some adjustable-rate conventional loans are technically assumable, and some servicer-by-servicer exceptions exist for certain transfers (death, divorce). FHA and VA are the truly assumable programs.
Plain-English explanation
Conventional fixed-rate mortgages almost always include a due-on-sale clause that prevents standard buyer assumption. ARM products can have assumption provisions, but those are rare in current originations. Family transfers (death, divorce, transfer to a related-party trust) sometimes proceed without triggering due-on-sale under federal law. If assumption is the goal, FHA and VA loans are the typical paths. Subject to lender/servicer rules.
What can change the answer?
Fannie Mae and Freddie Mac guidelines, lender overlays, and your specific file (credit, income, property, occupancy) drive the actual answer.
Want the real answer for your conventional file?
Conventional guidelines are the rule. Your credit, income, DTI, PMI, LLPAs, and Florida payment math are what decide the actual answer.
More conventional questions on Basics
Educational only. Conventional loan guidelines, lender overlays, rates, fees, PMI, LLPAs, and underwriting requirements can change. Final eligibility depends on full underwriting review.