FHA
Active
20$430,000$70,948 equity gap
- Rate
- 2.96%
7.40%today- Payment
- $1,703/mo
$2,811today
- 4beds
- 3baths
- 2,344sqft
Tonka Bay, Minnesota
Assumable homes for salein Tonka Bay, Minnesota.
An assumable mortgage lets you take over a seller’s existing low-rate FHA, VA, or USDA loan instead of financing at today’s 7.2%. These are the ones we verify in Tonka Bay.
Live MLS data · Updated
Tonka Bay assumable market
by the numbers.
6active assumable listings
2.77%average locked rate
$348ktypical list price
$750saved per month vs. 7.2%
About the market
Assumable mortgagesin Tonka Bay, explained.
Every number on this page comes from the live MLS feeds UMe indexes for Minnesota, filtered to Tonka Bay. Updated October 2026.
How assumptions work for buyersAs of October 2026, UMe has no verified assumable listings in Tonka Bay. That changes quickly: assumable homes come on the market every week across Minnesota as sellers with FHA, VA, and USDA loans written at 2% to 5% decide to move. Save a Tonka Bay search on the map and we will email you the moment one lands.
An assumable mortgage lets a qualified buyer take over the seller's existing loan, keeping the original rate, balance, and remaining term instead of financing at today's roughly 7.2%. FHA, VA, and USDA loans are assumable by law; conventional loans almost never are. UMe confirms the loan terms with the listing agent, runs the assumption with the servicer, and connects buyers with lenders who write second loans behind an assumption when the seller's equity is more than their cash.
Verified in Tonka Bay
Homes on the marketin Tonka Bay.
FHA
Active
20$314,900$91,492 equity gap
- Rate
- 2.68%
7.40%today- Payment
- $1,037/mo
$1,775today
- 3beds
- 2baths
- 1,748sqft
17549 70th Place, Maple Grove
FHA
Active
39$335,000$79,062 equity gap
- Rate
- 3.09%
7.40%today- Payment
- $1,239/mo
$2,012today
- 3beds
- 3baths
- 1,652sqft
1948 Commonwealth Boulevard #7, Chanhassen
FHA
Active
39$257,900$81,749 equity gap
- Rate
- 2.27%
7.40%today- Payment
- $770/mo
$1,391today
- 2beds
- 2baths
- 1,478sqft
18034 69th Place, Maple Grove
FHA
Active
33$407,500$138,096 equity gap
- Rate
- 2.78%
7.40%today- Payment
- $1,268/mo
$2,141today
- 3beds
- 2baths
- 1,402sqft
1325 Everest Lane, Plymouth
VA
Active
22$340,000$116,684 equity gap
- Rate
- 2.81%
7.40%today- Payment
- $1,044/mo
$1,757today
- 4beds
- 3baths
- 2,069sqft
114012 Hundertmark Road, Chaska
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.
Run the Tonka Bay numbers
What an assumable ratedoes to a Tonka Bay payment.
The sliders start at the median Tonka Bay assumable listing: $347,550 list price and a 2.77% 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
20% 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 Tonka Bay
$1,257/mo
New loan at 7.20%$1,901
Assumed at 2.75%
$1,257
Every month$643
Over five years$38,607
Interest you never pay$291,98326-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 Tonka Bay listing on UMe shows the actual balance, rate, and payment.
How it works in Tonka Bay
How to assumea mortgage in Tonka Bay.
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 a Tonka Bay home with a locked rate.
Every listing on this page carries an existing FHA, VA, or USDA loan. Filter the Tonka Bay 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. 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 a Tonka Bay payment written in a different decade.
Tonka Bay questions
Assuming a mortgagein Tonka Bay.
The numbers below come from current Tonka Bay inventory and update as listings change.
All assumption FAQsAre there assumable homes for sale in Tonka Bay?
As of October 2026, there are no verified assumable listings in Tonka Bay. New assumable homes appear every week across Minnesota; save a search on the map and we will email you when one lands in Tonka Bay.
What types of loans can be assumed in Tonka Bay?
FHA, VA, and USDA mortgages are assumable by law and make up nearly all assumable listings in Minnesota. Conventional loans usually include a due-on-sale clause and cannot be assumed. You do not need to be a veteran to assume a VA loan.
How long does a mortgage assumption take in Tonka Bay?
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 Tonka Bay.The rate is already on the house.
Every listing on the Tonka Bay map has a rate you can take over. Start with the ones in Tonka Bay, get pre-qualified in minutes, and let UMe carry the assumption to closing.