Agreement by which a buyer assumes an existing mortgage from a seller, with lender consent. Covers loan terms, assumption fee, release of original borrower liability, and representations by all parties.
The Mortgage Assumption Agreement is a ready-to-use finance & investment template you can send for signature in minutes. It is written for 2 signers (buyer and lender) and, by default, expires 30 days after it is sent if left unsigned. It covers two signers, agreement, mortgage, real estate, loan. Like every Abundera Sign template it is a convenience draft structured for ESIGN Act and UETA compliance, not a substitute for legal advice. Each signed copy is sealed with PAdES-LTA digital signatures, dual RFC 3161 timestamps, and a tamper-evident evidence package in WORM storage.
Document Preview
# Mortgage Assumption Agreement **Date:** ___________ This Mortgage Assumption Agreement ("Agreement") is entered into by and between: **Assuming Buyer:** ___________, with a mailing address of ___________ ("Buyer") **Lender:** ___________, with a principal place of business at ___________ ("Lender") **Original Borrower/Seller:** ___________ ("Seller") (executing separately where applicable) ## 1. Loan Identification **Property Address:** ___________ **Legal Description:** ___________ **Original Loan Number:** ___________ **Original Loan Date:** ___________ **Original Principal Amount:** ___________ **Current Outstanding Principal Balance:** ___________ **Current Interest Rate:** ___________% per annum **Interest Rate Type:** ___________ **Maturity Date:** ___________ **Monthly Payment (PITI):** ___________ **Payment Due Date:** The ___________ of each month ## 2. Assumption Lender hereby consents to and approves the assumption by Buyer of the above-described loan (the "Loan") evidenced by the promissory note and secured by the deed of trust or mortgage encumbering the Property (collectively, the "Loan Documents"), subject to the terms and conditions set forth in this Agreement.