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.
What this actually means.
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.
Where this can move.
Fannie Mae and Freddie Mac guidelines, lender overlays, and your specific file (credit, income, property, occupancy) drive the actual answer.
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Educational only. Conventional loan guidelines, lender overlays, rates, fees, PMI, LLPAs, and underwriting requirements can change. Final eligibility depends on full underwriting review. Mortgage Expert, Inc. is not affiliated with Fannie Mae, Freddie Mac, FHFA, or any government agency.