FHATop pick
Active
27$230,000$23,325 equity gap
- Rate
- 2.96%
7.32%today- Payment
- $980/mo
$1,605today
- 2beds
- 2baths
- 812sqft
St. Louis Park, Minnesota
Assumable homes for salein St. Louis Park, Minnesota.
An assumable mortgage lets you take over a seller’s existing low-rate FHA, VA, or USDA loan instead of financing at today’s 7.2%. These are the ones we verify in St. Louis Park.
Live MLS data · Updated
St. Louis Park assumable market
by the numbers.
6active assumable listings
2.96%average locked rate
$262ktypical list price
$542saved per month vs. 7.2%
About the market
Assumable mortgagesin St. Louis Park, explained.
Every number on this page comes from the live MLS feeds UMe indexes for Minnesota, filtered to St. Louis Park. Updated October 2026.
How assumptions work for buyersAs of October 2026, UMe has no verified assumable listings in St. Louis Park. That changes quickly: assumable homes come on the market every week across Minnesota as sellers with FHA, VA, and USDA loans written at 2% to 5% decide to move. Save a St. Louis Park search on the map and we will email you the moment one lands.
An assumable mortgage lets a qualified buyer take over the seller's existing loan, keeping the original rate, balance, and remaining term instead of financing at today's roughly 7.2%. FHA, VA, and USDA loans are assumable by law; conventional loans almost never are. UMe confirms the loan terms with the listing agent, runs the assumption with the servicer, and connects buyers with lenders who write second loans behind an assumption when the seller's equity is more than their cash.
Verified in St. Louis Park
Homes on the marketin St. Louis Park.
FHATop pick
Active
29$119,900$4,105 equity gap
- Rate
- 3.45%
7.32%today- Payment
- $600/mo
$923today
- 1beds
- 1baths
- 550sqft
2532 1st Avenue #S301, Minneapolis
FHA
Active
38$295,000$59,215 equity gap
- Rate
- 2.81%
7.32%today- Payment
- $1,105/mo
$1,845today
- 3beds
- 2baths
- 2,234sqft
5355 Northport Drive, Brooklyn Center
FHA
Active
35$384,900$68,225 equity gap
- Rate
- 2.84%
7.32%today- Payment
- $1,472/mo
$2,448today
- 6beds
- 2baths
- 2,376sqft
904 9th Avenue, Minneapolis
VA
Active
39$290,000$44,072 equity gap
- Rate
- 2.86%
7.32%today- Payment
- $1,130/mo
$1,875today
- 3beds
- 2baths
- 1,566sqft
8043 5th Street, Spring Lake Park
VA
Active
24$250,000$37,271 equity gap
- Rate
- 2.87%
7.32%today- Payment
- $992/mo
$1,644today
- 3beds
- 3baths
- 1,760sqft
1005 105th Street, Bloomington
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.
Run the St. Louis Park numbers
What an assumable ratedoes to a St. Louis Park payment.
The sliders start at the median St. Louis Park assumable listing: $261,633 list price and a 2.96% 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)$50,000
19% 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 St. Louis Park
$965/mo
New loan at 7.20%$1,425
Assumed at 2.95%
$965
Every month$461
Over five years$27,647
Interest you never pay$212,18826-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 St. Louis Park listing on UMe shows the actual balance, rate, and payment.
How it works in St. Louis Park
How to assumea mortgage in St. Louis Park.
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 St. Louis Park home with a locked rate.
Every listing on this page carries an existing FHA, VA, or USDA loan. Filter the St. Louis Park 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 St. Louis Park payment written in a different decade.
St. Louis Park questions
Assuming a mortgagein St. Louis Park.
The numbers below come from current St. Louis Park inventory and update as listings change.
All assumption FAQsAre there assumable homes for sale in St. Louis Park?
As of October 2026, there are no verified assumable listings in St. Louis Park. New assumable homes appear every week across Minnesota; save a search on the map and we will email you when one lands in St. Louis Park.
What types of loans can be assumed in St. Louis Park?
FHA, VA, and USDA mortgages are assumable by law and make up nearly all assumable listings in Minnesota. Conventional loans usually include a due-on-sale clause and cannot be assumed. You do not need to be a veteran to assume a VA loan.
How long does a mortgage assumption take in St. Louis Park?
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 St. Louis Park.The rate is already on the house.
Every listing on the St. Louis Park map has a rate you can take over. Start with the ones in St. Louis Park, get pre-qualified in minutes, and let UMe carry the assumption to closing.