Can an investor assume and FHA loan without applying?

[Rashad K.]

Hey Bigger Pockets,

Can a investor assume an FHA loan without having to apply or deal with the bank ? I have a motivated seller of an off marker triplex who owes 145K. Needs roughly 125k, rents are $1250-1300 after rehab. Hard to say what the ARV would be as the subject is 3/1 each unit with 3,710 SQ FT with no triplex comps but a updated fourplex literally two houses down that recently sold for $410,000. My Plans is the BRRR strategy but worried about the end appraisal as my last brrr appraised 30k less than I expected it would. So I am trying to be very conservative and figure out the best method with this one. Any suggestions or input is appreciated, thank you!

Saint Paul, Minnesota, Twin cities

[Tim Swierczek]

@Rashad K. No all assumable loans require that you qualify.