Assumptions are pretty simple. Your closing disclosure will state if it is assumable. If it is, it's basically like applying for a new loan. You'll need to be approved with credit and DTI, and there's still typical closing. Lenders usually charge a fee of $250. The lender has no incentive not to do it as long as the person assuming the loan is qualified. When rates were low, assumptions were still done. It was usually in cases of divorce where one spouse was awarded the house. Less common was death of the borrower and a survivor assumed the loan.