FHA
Active
61$299,900$5,496 down
- Rate
- 3.89%
6.95%today- Payment
- $1,513/mo
$2,125today
- 3beds
- 2baths
- 1,649sqft
Grand Island, Florida
Assumable homes for salein Grand Island, Florida.
3 homes in Grand Island carry an existing FHA, VA, or USDA loan you can take over, with locked rates from 2.93%. Assume the seller’s mortgage instead of financing at today’s 7.2%.
Live MLS data · Updated
Grand Island assumable market
by the numbers.
3active assumable listings
2.93%lowest locked rate
$387kmedian list price
$639saved per month vs. 7.2%
About the market
Assumable mortgagesin Grand Island, explained.
Every number on this page comes from the live MLS feeds UMe indexes for Florida, filtered to Grand Island. Updated September 2026.
How assumptions work for buyersGrand Island, Florida has 3 homes for sale with an assumable mortgage as of September 2026: 2 FHA loans and 1 VA 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 Grand Island assumable listings start at 2.93% with a median of 2.99%; 2 listings are under 4% and 3 are under 5%.
The median assumable home in Grand Island lists for $387,000, with a median of $188,759 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 $963 a month versus $1,603 for the same balance at today's rate, roughly $639 kept every month and $7,672 a year. The most active Grand Island ZIP codes are 32735 (3).
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 Grand Island assumptions close in 45 to 90 days, and UMe tracks the file with the servicer and both agents so nothing stalls.
Verified in Grand Island
View all 3 on the map Homes on the marketin Grand Island.
FHA
Active
21$350,000$54,786 down
- Rate
- 3.45%
6.95%today- Payment
- $1,446/mo
$2,145today
- 4beds
- 4baths
- 2,052sqft
2219 PICO Lane, Mount Dora
VA
Active
42$353,900$80,992 down
- Rate
- 2.84%
6.95%today- Payment
- $1,263/mo
$2,024today
- 4beds
- 2baths
- 1,941sqft
7830 SLOEWOOD Drive, Leesburg
FHA
Active
35$285,900$74,130 down
- Rate
- 3.04%
6.95%today- Payment
- $1,013/mo
$1,583today
- 3beds
- 2baths
- 1,858sqft
4617 MANOR VIEW Drive, Leesburg
FHA
Active
22$245,000$56,219 down
- Rate
- 3.06%
6.95%today- Payment
- $903/mo
$1,407today
- 3beds
- 2baths
- 2,075sqft
4322 CASAURINA Road, Lady Lake
FHA
Active
36$195,000$72,811 down
- Rate
- 2.73%
6.95%today- Payment
- $568/mo
$923today
- 3beds
- 3baths
- 1,440sqft
11600 RANCHO Drive, Leesburg
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 Grand Island.
Live counts from the MLS feeds we index for Florida. Updated September 2026.
- Active listings
- 3
- UMe Certified / verified
- 0
- Lowest rate
- 2.93%
- Median rate
- 2.99%
- Median list price
- $387,000
- Median cash to assume
- $188,759
Grand Island listings by locked rate
- Under 4%2 homes
- 4% – 5%1 home
- 5% – 6%0 homes
- 6% and up0 homes
Grand Island listings by loan type
- FHA2 homesmedian 3.54%
- VA1 homemedian 2.99%
FHA, VA, and USDA loans are assumable by law. Conventional loans almost never are.
By neighborhood
Assumable homesby Grand Island ZIP code.
Each ZIP opens the Grand Island map zoomed to its listings, in assumptions mode, with rate and payment filters ready.
Run the Grand Island numbers
What an assumable ratedoes to a Grand Island payment.
The sliders start at the median Grand Island assumable listing: $387,000 list price and a 2.99% 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)$185,000
48% 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 Grand Island
$924/mo
New loan at 7.20%$1,358
Assumed at 3.00%
$924
Every month$434
Over five years$26,017
Interest you never pay$200,45126-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 Grand Island listing on UMe shows the actual balance, rate, and payment.
How it works in Grand Island
How to assumea mortgage in Grand Island.
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 Grand Island home with a locked rate.
Every listing on this page carries an existing FHA, VA, or USDA loan. Filter the Grand Island 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 $188,759 in Grand Island 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 Grand Island payment written in a different decade.
Grand Island questions
Assuming a mortgagein Grand Island.
The numbers below come from current Grand Island inventory and update as listings change.
All assumption FAQsHow many assumable homes are for sale in Grand Island?
As of September 2026, UMe tracks 3 active assumable listings in Grand Island. Inventory refreshes from the MLS throughout the day, so the map may show slightly different counts.
What types of assumable loans are available in Grand Island?
Current Grand Island inventory breaks down as FHA (2, median 3.54%) and VA (1, median 2.99%). 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 Grand Island?
The lowest rate on an active Grand Island assumable listing is 2.93%, and the median across all 3 listings is 2.99%. 2 listings are under 4% and 3 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 Grand Island?
Across current Grand Island listings, the median principal-and-interest payment on the assumable loan is $963 per month versus $1,603 for the same balance at today's rates, a difference of about $639 every month, or $7,672 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 Grand Island?
When you assume a loan you pay the seller the difference between the list price and the remaining loan balance. In Grand Island that gap is currently a median of $188,759 on a median list price of $387,000. 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 Grand Island ZIP codes have the most assumable homes?
The Grand Island ZIP codes with the most active assumable listings are 32735 (3). 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 Grand Island?
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 Florida More assumable homesin Florida.
Ready when you are
Stop overpaying for Grand Island.The rate is already on the house.
Every listing on the Grand Island map has a rate you can take over. Start with the ones in Grand Island, get pre-qualified in minutes, and let UMe carry the assumption to closing.
