FHA
Active
39$299,500Potential short sale
- Rate
- 6.77%
7.40%today- Payment
- $2,093/mo
$2,230today
- 3beds
- 2baths
- 1,855sqft
Somerville, Tennessee
Assumable homes for salein Somerville, Tennessee.
1 home in Somerville carries an existing FHA, VA, or USDA loan you can take over, with locked rates from 6.77%. Assume the seller’s mortgage instead of financing at today’s 7.2%.
Live MLS data · Updated
Somerville assumable market
by the numbers.
1active assumable listing
6.77%lowest locked rate
$300kmedian list price
$163saved per month vs. 7.2%
About the market
Assumable mortgagesin Somerville, explained.
Every number on this page comes from the live MLS feeds UMe indexes for Tennessee, filtered to Somerville. Updated October 2026.
How assumptions work for buyersSomerville, Tennessee has 1 home for sale with an assumable mortgage as of October 2026: 1 FHA loan 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 Somerville assumable listings start at 6.77% with a median of 6.77%; 0 listings are under 4% and 0 are under 5%.
The median assumable home in Somerville lists for $299,500. At the median assumable rate the principal-and-interest payment is about $2,093 a month versus $2,256 for the same balance at today's rate, roughly $163 kept every month and $1,958 a year. The most active Somerville ZIP codes are 38068 (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 Somerville assumptions close in 45 to 90 days, and UMe tracks the file with the servicer and both agents so nothing stalls.
Verified in Somerville
View all 1 on the map Homes on the marketin Somerville.
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 Somerville.
Live counts from the MLS feeds we index for Tennessee. Updated October 2026.
- Active listings
- 1
- UMe Certified / verified
- 0
- Lowest rate
- 6.77%
- Median rate
- 6.77%
- Median list price
- $299,500
Somerville listings by locked rate
- Under 4%0 homes
- 4% – 5%0 homes
- 5% – 6%0 homes
- 6% and up1 home
Somerville listings by loan type
- FHA1 homemedian 6.77%
FHA, VA, and USDA loans are assumable by law. Conventional loans almost never are.
By neighborhood
Assumable homesby Somerville ZIP code.
Each ZIP opens the Somerville map zoomed to its listings, in assumptions mode, with rate and payment filters ready.
Run the Somerville numbers
What an assumable ratedoes to a Somerville payment.
The sliders start at the median Somerville assumable listing: $299,500 list price and a 6.77% 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)$60,000
20% 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 Somerville
$1,634/mo
New loan at 7.20%$1,629
Assumed at 6.75%
$1,634
Every month$0
Over five years$0
Interest you never pay$76,69426-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 Somerville listing on UMe shows the actual balance, rate, and payment.
How it works in Somerville
How to assumea mortgage in Somerville.
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 Somerville home with a locked rate.
Every listing on this page carries an existing FHA, VA, or USDA loan. Filter the Somerville 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. 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 Somerville payment written in a different decade.
Somerville questions
Assuming a mortgagein Somerville.
The numbers below come from current Somerville inventory and update as listings change.
All assumption FAQsHow many assumable homes are for sale in Somerville?
As of October 2026, UMe tracks 1 active assumable listing in Somerville. Inventory refreshes from the MLS throughout the day, so the map may show slightly different counts.
What types of assumable loans are available in Somerville?
Current Somerville inventory breaks down as FHA (1, median 6.77%). 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 Somerville?
The lowest rate on an active Somerville assumable listing is 6.77%, and the median across all 1 listing is 6.77%. 0 listings are under 4% and 0 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 Somerville?
Across current Somerville listings, the median principal-and-interest payment on the assumable loan is $2,093 per month versus $2,256 for the same balance at today's rates, a difference of about $163 every month, or $1,958 a year. The savings compound because you also keep the seller's remaining term instead of restarting a 30-year clock.
Which Somerville ZIP codes have the most assumable homes?
The Somerville ZIP codes with the most active assumable listings are 38068 (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 Somerville?
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 Tennessee More assumable homesin Tennessee.
Ready when you are
Stop overpaying for Somerville.The rate is already on the house.
Every listing on the Somerville map has a rate you can take over. Start with the ones in Somerville, get pre-qualified in minutes, and let UMe carry the assumption to closing.