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# What is the purpose of the assumable option?

Selecting Loan is Assumable on the Loan Definition page will check the ‘If you sell or transfer this property to another person, we will allow, under certain conditions, this person to assume this loan on the original terms' box on the Loan Estimate and Closing Disclosure.

Not selecting Loan is Assumable on the Loan Definition page will check the ‘If you sell or transfer this property to another person, we will not allow assumption of this loan on the original terms' box on the Loan Estimate and Closing Disclosure.