Memphis, Tennessee
Assumable homes for salein Memphis, Tennessee.
12 homes in Memphis carry an existing FHA, VA, or USDA loan you can take over, with locked rates from 2.98%. Assume the seller’s mortgage instead of financing at today’s 7.2%.
Live MLS data · Updated
Memphis assumable market
by the numbers.
Assumable mortgagesin Memphis, explained.
Every number on this page comes from the live MLS feeds UMe indexes for Tennessee, filtered to Memphis. Updated October 2026.
How assumptions work for buyersMemphis, Tennessee has 12 homes for sale with an assumable mortgage as of October 2026: 9 FHA loans and 3 VA loans that a qualified buyer can take over at the seller's existing rate instead of financing at today's roughly 7.2%. Rates on active Memphis assumable listings start at 2.98% with a median of 5.62%; 5 listings are under 4% and 5 are under 5%.
The median assumable home in Memphis lists for $324,900, with a median of $71,850 in cash to assume, the gap between the price and the remaining loan balance. At the median assumable rate the principal-and-interest payment is about $1,063 a month versus $1,422 for the same balance at today's rate, roughly $359 kept every month and $4,307 a year. The most active Memphis ZIP codes are 38111 (2), 38117 (2), 38104 (1), 38112 (1), and 38116 (1).
UMe confirms the balance, rate, and assumability of each listing with the listing agent before marking it Certified. FHA, VA, and USDA loans are assumable by law, and you do not need to be a veteran to assume a VA loan. Once you are under contract, the loan servicer underwrites you rather than a new lender; most Memphis assumptions close in 45 to 90 days, and UMe tracks the file with the servicer and both agents so nothing stalls.
Homes on the marketin Memphis.
No verified listings in Memphis yet.
New assumable listings land every week across Tennessee. Search the full map, or save a Memphis search and we’ll email you the moment one appears.
Live MLS collection. Loan balances, payment estimates, and cash-to-assume amounts update with the source listing. Taxes, insurance, HOA, closing costs, and secondary financing may change the final monthly payment.
What’s in the mixin Memphis.
Live counts from the MLS feeds we index for Tennessee. Updated October 2026.
- Active listings
- 12
- UMe Certified / verified
- 0
- Lowest rate
- 2.98%
- Median rate
- 5.62%
- Median list price
- $324,900
- Median cash to assume
- $71,850
Memphis listings by locked rate
- Under 4%5 homes
- 4% – 5%0 homes
- 5% – 6%2 homes
- 6% and up5 homes
Memphis listings by loan type
- FHA9 homesmedian 5.25%
- VA3 homesmedian 6.51%
FHA, VA, and USDA loans are assumable by law. Conventional loans almost never are.
Assumable homesby Memphis ZIP code.
Each ZIP opens the Memphis map zoomed to its listings, in assumptions mode, with rate and payment filters ready.
- 38111
2 assumable homes
median 3.29% · $411,500
- 38117
2 assumable homes
median 6.21% · $342,450
- 38104
1 assumable home
median 3.07% · $400,000
- 38112
1 assumable home
median 6.92% · $223,500
- 38116
1 assumable home
median 3.94% · $165,000
- 38118
1 assumable home
median 5.99% · $59,900
- 38120
1 assumable home
median 5.25% · $440,000
- 38125
1 assumable home
median 3.14% · $339,900
What an assumable ratedoes to a Memphis payment.
The sliders start at the median Memphis assumable listing: $324,900 list price and a 5.62% existing rate. We compare the payment you would take over against financing the same balance with a new loan at today’s 7.20%. Principal and interest only; taxes, insurance, and HOA dues are the same either way.
The gap between price and balance is the seller’s equity: your cash to assume, or what a second loan can help cover.
22% of the price. Eligible buyers can start with as little as 5% down using a second loan for the rest.
Estimates for illustration. The real numbers depend on the loan, the servicer, and your qualification; every Memphis listing on UMe shows the actual balance, rate, and payment.
How to assumea mortgage in Memphis.
You’re not applying for a new mortgage. You’re stepping into one that already exists, at the rate it was written. Four steps, and UMe owns the hard one.
Start with pre-qualification- 01
Find a Memphis home with a locked rate.
Every listing on this page carries an existing FHA, VA, or USDA loan. Filter the Memphis map by existing rate, monthly payment, or cash to assume instead of by list price alone.
- 02
Cover the seller’s equity.
You pay the seller the difference between the price and the remaining balance, a median of $71,850 in Memphis today. Cash, a second loan, or seller financing can bridge it.
- 03
Qualify with the servicer, not a new lender.
The current loan servicer reviews your credit, income, and debt just like a lender would. UMe prepares the file, works the servicer directly, and chases every follow-up so the 45-to-90-day timeline holds.
- 04
Close and keep the rate.
The seller’s balance, rate, and remaining term become yours. No points, no origination fee, no reset to 30 years, and a Memphis payment written in a different decade.
Assuming a mortgagein Memphis.
The numbers below come from current Memphis inventory and update as listings change.
All assumption FAQsHow many assumable homes are for sale in Memphis?
As of October 2026, UMe tracks 12 active assumable listings in Memphis. Inventory refreshes from the MLS throughout the day, so the map may show slightly different counts.
What types of assumable loans are available in Memphis?
Current Memphis inventory breaks down as FHA (9, median 5.25%) and VA (3, median 6.51%). FHA, VA, and USDA mortgages are assumable by law, which is why they make up nearly all assumable listings. Conventional loans usually carry a due-on-sale clause and cannot be assumed. You do not need to be a veteran to assume a VA loan, though the seller's entitlement stays tied up unless you substitute your own.
What is the lowest assumable mortgage rate in Memphis?
The lowest rate on an active Memphis assumable listing is 2.98%, and the median across all 12 listings is 5.62%. 5 listings are under 4% and 5 are under 5%, compared with roughly 7.2% for a new 30-year loan today.
How much can I save with a mortgage assumption in Memphis?
Across current Memphis listings, the median principal-and-interest payment on the assumable loan is $1,063 per month versus $1,422 for the same balance at today's rates, a difference of about $359 every month, or $4,307 a year. The savings compound because you also keep the seller's remaining term instead of restarting a 30-year clock.
How much money do I need to assume a home in Memphis?
When you assume a loan you pay the seller the difference between the list price and the remaining loan balance. In Memphis that gap is currently a median of $71,850 on a median list price of $324,900. Buyers cover it with cash, a second mortgage, or seller financing; UMe can connect you with lenders who write gap loans behind an assumption.
Which Memphis ZIP codes have the most assumable homes?
The Memphis ZIP codes with the most active assumable listings are 38111 (2), 38117 (2), 38104 (1), 38112 (1), and 38116 (1). Use the map to draw your own boundary or filter by rate, payment, and down payment inside any of them.
How long does a mortgage assumption take in Memphis?
Most FHA and VA assumptions close in 45 to 90 days. The loan servicer, not a new lender, underwrites you, and servicer turnaround is the main variable. UMe tracks the file with the servicer and the listing agent so nothing stalls, and every listing shows whether the assumption has already been confirmed with the seller's side.
More assumable homesin Tennessee.
Stop overpaying for Memphis.The rate is already on the house.
Every listing on the Memphis map has a rate you can take over. Start with the ones in Memphis, get pre-qualified in minutes, and let UMe carry the assumption to closing.
