Legal & Legislation
Market News & Data
General Info
Real Estate Strategies
![](http://bpimg.biggerpockets.com/assets/forums/sponsors/hospitable-deef083b895516ce26951b0ca48cf8f170861d742d4a4cb6cf5d19396b5eaac6.png)
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
![](http://bpimg.biggerpockets.com/assets/forums/sponsors/equity_trust-2bcce80d03411a9e99a3cbcf4201c034562e18a3fc6eecd3fd22ecd5350c3aa5.avif)
![](http://bpimg.biggerpockets.com/assets/forums/sponsors/equity_1031_exchange-96bbcda3f8ad2d724c0ac759709c7e295979badd52e428240d6eaad5c8eff385.avif)
Real Estate Classifieds
Reviews & Feedback
Updated over 1 year ago on . Most recent reply
![Daniel Pugh's profile image](https://bpimg.biggerpockets.com/no_overlay/uploads/social_user/user_avatar/2553172/1671039618-avatar-danielp754.jpg?twic=v1/output=image/crop=599x599@0x0/cover=128x128&v=2)
Assumable FHA Loan Transaction
Hi all - I am currently in discussion with a seller of a 4-flat home in the Chicago area, which I am looking to buy. The seller currently has the property financed through an FHA Loan that is transferrable. I am hoping to get a hold of the loan documents and would love some legal assistance in comprehending the transferability and terms of the loan. If any one is familiar with and/or has experience dealing with such a situation, or may know someone who could help out, I would greatly appreciate the opportunity to connect!
I look forward to any responses!
Most Popular Reply
![Brie Schmidt's profile image](https://bpimg.biggerpockets.com/no_overlay/uploads/social_user/user_avatar/169342/1621421059-avatar-chicagobrie.jpg?twic=v1/output=image/crop=500x500@0x0/cover=128x128&v=2)
@Daniel Pugh - FHA loans are assumable, but the lender has to approve it. I have never seen it done before or a lender willing to lose tens of thousands of dollars.
So in theory it can be done, but it isn't realistic
- Brie Schmidt
- Podcast Guest on Show #132
![business profile image](https://bpimg.biggerpockets.com/no_overlay/uploads/marketplace/business/profile_image/1446/1720451383-company-avatar.jpg?twic=v1/output=image/contain=65x65)