Finding Assumable Mortgages in Denver: What’s Actually Working?

[Eric DeNardo]

Hey everyone,

Curious how people in Denver are actually finding homes (SFH or Multifamily) with assumable mortgages.

Are you using specific third-party platforms, pulling data from somewhere, or reaching out directly to homeowners?

I know assumable loans can be a solid opportunity in the current rate environment, but I’m wondering if I’m missing a more efficient way to source them beyond the obvious approaches.

Would love to hear what’s actually working for others

[Ryan Thomson]

Denver is a great market for this right now. Here's what's actually working:

The fastest path is filtering MLS for active FHA and VA listings, then calling listing agents directly before writing an offer. Ask them two questions: what servicer holds the loan, and has the seller been briefed on the assumption timeline. A seller expecting a 30-day close who hasn't heard of assumptions will kill your deal before it starts.

For servicers, Mr. Cooper and ServiceMac move faster than most. If you're seeing PHH/NewRez on a deal, budget 90-120 days minimum and price that into your offer terms.

VA to VA assumptions are cleaner if you're eligible. No FHA mortgage insurance, and sellers are often more open to it because they understand the process from their own purchase. But FHA works too. On a $500K loan at 3.25%, you're taking over a $2,176/month payment vs $3,260 at today's rates. That's over $1,000/month in payment difference, which is a real negotiating tool with sellers who care about their buyers winning.

The piece most people miss is the listing agent relationship. About half of listing agents in Denver have never processed an assumption and will push back hard. I've found that sending a one-page explainer about the process (timeline, what the servicer needs, what stays the same) directly to the listing agent before submitting the offer converts skeptics faster than anything else.

Volume-wise, Denver's got a decent inventory of 2020-2022 FHA/VA listings to work through. You just have to be willing to do the legwork on each one.