Seller Tips: Marketing Your Home with an Assumable Loan

Ready to sell your home and start the next chapter? Making your property stand out could mean the difference between simply selling your house and making a profitable move. If your home has an assumable loan, that’s one more perk you can use to your marketing advantage. Learn about assumable home loans, the benefits they offer to both sellers and buyers, and how you can effectively showcase this competitive feature.

The Lowdown on Assumable Loans

What’s an assumable loan? It’s one that can be passed from the seller to the buyer. If you have an assumable mortgage, you’re essentially passing your:

• Loan terms
• Interest rate
• Monthly payments
• Remaining loan balance

To the person who buys your home. This financing solution is particularly attractive in today's high-rate environment, as buyers may secure a lower rate than they would with a new loan.

Wondering about the steps involved in how to assume a home loan? The process is quite similar to applying for a mortgage. As the seller, your buyer will need to work with your lender to verify their income and demonstrate their creditworthiness. If the buyer is approved, it’s a pretty straightforward process from there.

Benefits for Sellers

Assumable mortgages don’t only help buyers; they come with quite a few benefits for sellers as well, including:

• Faster sale: Homes with assumable loans are attractive to buyers, as they offer money-saving opportunities. Therefore, homes on the market with assumable loans often sell faster than those without.
• Higher offers: Most buyers see the value in long-term savings, and many will put in competitive offers, sometimes higher than the asking price.
• More attention: Thanks to the financial advantages they come with, assumable home loans can attract more buyers.

Marketing Strategies for Homes With Assumable Loans

Highlight the Loan in Your Listing

Kicking off our list of tips on selling a home with an assumable loan is to highlight that feature in the listing. The listing is your first chance to grab a buyer’s attention, so make sure the assumable loan is front and center. Use phrases like:

• Save on interest with an assumable loan
• Take advantage of our low interest rate

And consider mentioning the assumable loan in places like the headline and property description.

Work With Pros Who Understand Assumable Loans

Not all realtors are familiar with assumable loans, making it essential to partner with a team that understands the process and unique benefits. Experienced professionals, such as those here at The Selby Team, can:

• Explain the value of an assumable loan to potential buyers
• Advocate for this unique selling point during negotiations
• Offer guidance when it comes to the paperwork involved with these loans

We offer a hands-on, personalized approach that helps you reach your real estate goals. Connect with our Selby team to get started today!

Create Compelling Materials

All the marketing materials you create should emphasize or feature the savings and benefits of your assumable loan. Here are a few ways to make your materials stand out:

• Graphics and infographics that showcase potential savings
• Professional photos of your property
• Details on loan terms and monthly payment amounts

Sound like a big job? Our team makes it easy! Reach out to learn about all the ways we market your property and ensure your assumable loan is featured front and center.

Use Social Media Effectively

Last on our list of home-selling tips in San Diego is to leverage social media. Create engaging posts or videos that highlight the financial benefits for potential buyers. Because social media platforms can extend your reach, you may be able to attract buyers who are not in the immediate area.

More buyers could translate to more offers, helping start a bidding war.

Let’s Make Your Property Stand Out

Tap into our expertise to make your home stand out, whether you have an assumable loan or not! We’re standing by, ready to guide you every step of the way and help lock in a competitive offer.