FHA
Active
15$383,900$67,593 equity gap
- Rate
- 2.86%
7.40%today- Payment
- $1,464/mo
$2,447today
- 3beds
- 2baths
- 1,636sqft
Hugo, Minnesota
Assumable homes for salein Hugo, Minnesota.
9 homes in Hugo carry an existing FHA, VA, or USDA loan you can take over, with locked rates from 3.04%. Assume the seller’s mortgage instead of financing at today’s 7.2%.
Live MLS data · Updated
Hugo assumable market
by the numbers.
9active assumable listings
3.04%lowest locked rate
$385kmedian list price
$703saved per month vs. 7.2%
About the market
Assumable mortgagesin Hugo, explained.
Every number on this page comes from the live MLS feeds UMe indexes for Minnesota, filtered to Hugo. Updated October 2026.
How assumptions work for buyersHugo, Minnesota has 9 homes for sale with an assumable mortgage as of October 2026: 5 FHA loans and 4 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 Hugo assumable listings start at 3.04% with a median of 3.87%; 4 listings are under 4% and 4 are under 5%.
The median assumable home in Hugo lists for $385,000, with a median of $93,075 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 $1,086 a month versus $1,789 for the same balance at today's rate, roughly $703 kept every month and $8,431 a year. The most active Hugo ZIP codes are 55038 (9).
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 Hugo assumptions close in 45 to 90 days, and UMe tracks the file with the servicer and both agents so nothing stalls.
Verified in Hugo
View all 9 on the map Homes on the marketin Hugo.
FHA
Active
30$269,900$40,139 equity gap
- Rate
- 3.07%
7.40%today- Payment
- $1,086/mo
$1,768today
- 3beds
- 3baths
- 1,488sqft
5651 138th Street, Hugo
VA
Active
2$185,000$51,179 equity gap
- Rate
- 2.74%
7.40%today- Payment
- $622/mo
$1,057today
- 2beds
- 1baths
- 1,092sqft
619 2nd Avenue, Forest Lake
FHA
Active
25$299,900$82,775 equity gap
- Rate
- 2.90%
7.40%today- Payment
- $1,012/mo
$1,683today
- 3beds
- 2baths
- 1,437sqft
6356 48th Street, Oakdale
FHA
Active
40$600,000$163,309 equity gap
- Rate
- 2.93%
7.40%today- Payment
- $2,055/mo
$3,405today
- 6beds
- 3baths
- 4,120sqft
1598 Shore Drive, Saint Paul
VA
Active
43$515,000$106,637 equity gap
- Rate
- 3.00%
7.40%today- Payment
- $1,941/mo
$3,187today
- 4beds
- 2baths
- 2,452sqft
202 Robert Street, Mahtomedi
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.
Inventory snapshot
What’s in the mixin Hugo.
Live counts from the MLS feeds we index for Minnesota. Updated October 2026.
- Active listings
- 9
- UMe Certified / verified
- 0
- Lowest rate
- 3.04%
- Median rate
- 3.87%
- Median list price
- $385,000
- Median cash to assume
- $93,075
Hugo listings by locked rate
- Under 4%4 homes
- 4% – 5%0 homes
- 5% – 6%1 home
- 6% and up2 homes
Hugo listings by loan type
- FHA5 homesmedian 3.18%
- VA4 homesmedian 5.71%
FHA, VA, and USDA loans are assumable by law. Conventional loans almost never are.
By neighborhood
Assumable homesby Hugo ZIP code.
Each ZIP opens the Hugo map zoomed to its listings, in assumptions mode, with rate and payment filters ready.
Run the Hugo numbers
What an assumable ratedoes to a Hugo payment.
The sliders start at the median Hugo assumable listing: $385,000 list price and a 3.87% 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.
Cash to assume (seller’s equity)$95,000
25% of the price. Eligible buyers can start with as little as 5% down using a second loan for the rest.
Your monthly payment if you assume in Hugo
$1,472/mo
New loan at 7.20%$1,968
Assumed at 3.85%
$1,472
Every month$496
Over five years$29,764
Interest you never pay$249,26226-year assumed loan vs. a new 30-year loan
Estimates for illustration. The real numbers depend on the loan, the servicer, and your qualification; every Hugo listing on UMe shows the actual balance, rate, and payment.
How it works in Hugo
How to assumea mortgage in Hugo.
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 Hugo home with a locked rate.
Every listing on this page carries an existing FHA, VA, or USDA loan. Filter the Hugo 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 $93,075 in Hugo 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 Hugo payment written in a different decade.
Hugo questions
Assuming a mortgagein Hugo.
The numbers below come from current Hugo inventory and update as listings change.
All assumption FAQsHow many assumable homes are for sale in Hugo?
As of October 2026, UMe tracks 9 active assumable listings in Hugo. Inventory refreshes from the MLS throughout the day, so the map may show slightly different counts.
What types of assumable loans are available in Hugo?
Current Hugo inventory breaks down as FHA (5, median 3.18%) and VA (4, median 5.71%). 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 Hugo?
The lowest rate on an active Hugo assumable listing is 3.04%, and the median across all 9 listings is 3.87%. 4 listings are under 4% and 4 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 Hugo?
Across current Hugo listings, the median principal-and-interest payment on the assumable loan is $1,086 per month versus $1,789 for the same balance at today's rates, a difference of about $703 every month, or $8,431 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 Hugo?
When you assume a loan you pay the seller the difference between the list price and the remaining loan balance. In Hugo that gap is currently a median of $93,075 on a median list price of $385,000. 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 Hugo ZIP codes have the most assumable homes?
The Hugo ZIP codes with the most active assumable listings are 55038 (9). 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 Hugo?
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.
Nearby markets
All of Minnesota More assumable homesin Minnesota.
Ready when you are
Stop overpaying for Hugo.The rate is already on the house.
Every listing on the Hugo map has a rate you can take over. Start with the ones in Hugo, get pre-qualified in minutes, and let UMe carry the assumption to closing.