Hello Anithia. Assumable loans are rare these days. Some people also buy properties subject to the existing financing, which means that the seller stays on the loan and you make the payments through an escrow company. The downside is that most loans have what's is called a "due on sale clause" and when the property is sold without the lender being paid off then the lender can call the loan due upon learning of the sale. Subject to purchases are used by buyers who do not have good credit themselves and by investors who do not want to use their own credit. For the seller, the downside is that the loan stays in the seller's name which prevents the seller from buying a new property because with the existing loan showing on the credit, the seller most likely will not qualify for another loan because of the debt to income ratio. For some sellers selling subject to is, however, the lesser evil as they might otherwise have a foreclosure on their record.