VA
Active
40$455,000$95,818 down
- Rate
- 2.81%
7.03%today- Payment
- $1,684/mo
$2,731today
- 4beds
- 3baths
- 3,007sqft
Elk River, Minnesota
Assumable homes for salein Elk River, Minnesota.
13 homes in Elk River carry an existing FHA, VA, or USDA loan you can take over, with locked rates from 2.81%. Assume the seller’s mortgage instead of financing at today’s 7.2%.
Live MLS data · Updated
Elk River assumable market
by the numbers.
13active assumable listings
2.81%lowest locked rate
$369kmedian list price
$659saved per month vs. 7.2%
About the market
Assumable mortgagesin Elk River, explained.
Every number on this page comes from the live MLS feeds UMe indexes for Minnesota, filtered to Elk River. Updated September 2026.
How assumptions work for buyersElk River, Minnesota has 13 homes for sale with an assumable mortgage as of September 2026: 11 FHA loans and 2 VA loans 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 Elk River assumable listings start at 2.81% with a median of 6.54%; 5 listings are under 4% and 5 are under 5%.
The median assumable home in Elk River lists for $369,000, with a median of $69,099 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 $1,508 a month versus $2,167 for the same balance at today's rate, roughly $659 kept every month and $7,905 a year. The most active Elk River ZIP codes are 55330 (13).
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 Elk River assumptions close in 45 to 90 days, and UMe tracks the file with the servicer and both agents so nothing stalls.
Verified in Elk River
View all 13 on the map Homes on the marketin Elk River.
FHA
Active
18$381,000$110,149 down
- Rate
- 2.81%
7.03%today- Payment
- $1,273/mo
$2,064today
- 5beds
- 2baths
- 2,126sqft
13413 Riverview Drive, Elk River
VA
Active
45$475,000$122,938 down
- Rate
- 2.88%
7.03%today- Payment
- $1,633/mo
$2,625today
- 3beds
- 3baths
- 2,070sqft
12789 Breckenridge Lane, Rogers
FHA
Active
54$400,000$114,068 down
- Rate
- 3.02%
7.03%today- Payment
- $1,390/mo
$2,195today
- 4beds
- 4baths
- 3,226sqft
10396 Karston Avenue, Albertville
VA
Active
39$448,000$101,499 down
- Rate
- 3.07%
7.03%today- Payment
- $1,638/mo
$2,569today
- 4beds
- 4baths
- 2,630sqft
4998 Kama Lane, Albertville
FHA
Active
22$425,000$117,409 down
- Rate
- 3.10%
7.03%today- Payment
- $1,459/mo
$2,280today
- 4beds
- 3baths
- 2,183sqft
15213 Tiger Street, Ramsey
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 Elk River.
Live counts from the MLS feeds we index for Minnesota. Updated September 2026.
- Active listings
- 13
- UMe Certified / verified
- 0
- Lowest rate
- 2.81%
- Median rate
- 6.54%
- Median list price
- $369,000
- Median cash to assume
- $69,099
Elk River listings by locked rate
- Under 4%5 homes
- 4% – 5%0 homes
- 5% – 6%0 homes
- 6% and up8 homes
Elk River listings by loan type
- FHA11 homesmedian 6.78%
- VA2 homesmedian 3.63%
FHA, VA, and USDA loans are assumable by law. Conventional loans almost never are.
By neighborhood
Assumable homesby Elk River ZIP code.
Each ZIP opens the Elk River map zoomed to its listings, in assumptions mode, with rate and payment filters ready.
Run the Elk River numbers
What an assumable ratedoes to an Elk River payment.
The sliders start at the median Elk River assumable listing: $369,000 list price and a 6.54% 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)$70,000
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 Elk River
$2,004/mo
New loan at 7.20%$2,036
Assumed at 6.55%
$2,004
Every month$32
Over five years$1,928
Interest you never pay$107,76926-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 Elk River listing on UMe shows the actual balance, rate, and payment.
How it works in Elk River
How to assumea mortgage in Elk River.
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 an Elk River home with a locked rate.
Every listing on this page carries an existing FHA, VA, or USDA loan. Filter the Elk River 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 $69,099 in Elk River 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 an Elk River payment written in a different decade.
Elk River questions
Assuming a mortgagein Elk River.
The numbers below come from current Elk River inventory and update as listings change.
All assumption FAQsHow many assumable homes are for sale in Elk River?
As of September 2026, UMe tracks 13 active assumable listings in Elk River. Inventory refreshes from the MLS throughout the day, so the map may show slightly different counts.
What types of assumable loans are available in Elk River?
Current Elk River inventory breaks down as FHA (11, median 6.78%) and VA (2, median 3.63%). 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 Elk River?
The lowest rate on an active Elk River assumable listing is 2.81%, and the median across all 13 listings is 6.54%. 5 listings are under 4% and 5 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 Elk River?
Across current Elk River listings, the median principal-and-interest payment on the assumable loan is $1,508 per month versus $2,167 for the same balance at today's rates, a difference of about $659 every month, or $7,905 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 Elk River?
When you assume a loan you pay the seller the difference between the list price and the remaining loan balance. In Elk River that gap is currently a median of $69,099 on a median list price of $369,000. 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 Elk River ZIP codes have the most assumable homes?
The Elk River ZIP codes with the most active assumable listings are 55330 (13). 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 Elk River?
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 Elk River.The rate is already on the house.
Every listing on the Elk River map has a rate you can take over. Start with the ones in Elk River, get pre-qualified in minutes, and let UMe carry the assumption to closing.
