FHATop pick
Active
$320,000$10,337 down
- Rate
- 3.08%
7.28%today- Payment
- $1,485/mo
$2,385today
- 4beds
- 2baths
- 2,124sqft
Prior Lake, Minnesota
Assumable homes for salein Prior Lake, Minnesota.
7 homes in Prior Lake carry an existing FHA, VA, or USDA loan you can take over, with locked rates from 2.39%. Assume the seller’s mortgage instead of financing at today’s 7.2%.
Live MLS data · Updated
Prior Lake assumable market
by the numbers.
7active assumable listings
2.39%lowest locked rate
$440kmedian list price
$402saved per month vs. 7.2%
About the market
Assumable mortgagesin Prior Lake, explained.
Every number on this page comes from the live MLS feeds UMe indexes for Minnesota, filtered to Prior Lake. Updated October 2026.
How assumptions work for buyersPrior Lake, Minnesota has 7 homes for sale with an assumable mortgage as of October 2026: 5 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 Prior Lake assumable listings start at 2.39% with a median of 5.00%; 3 listings are under 4% and 3 are under 5%.
The median assumable home in Prior Lake lists for $439,900, with a median of $271,520 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 $2,273 a month versus $2,675 for the same balance at today's rate, roughly $402 kept every month and $4,819 a year. The most active Prior Lake ZIP codes are 55372 (6) and 55378 (1).
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 Prior Lake assumptions close in 45 to 90 days, and UMe tracks the file with the servicer and both agents so nothing stalls.
Verified in Prior Lake
View all 7 on the map Homes on the marketin Prior Lake.
FHA
Active
20$450,000$89,466 down
- Rate
- 3.06%
7.28%today- Payment
- $1,725/mo
$2,778today
- 4beds
- 3baths
- 2,344sqft
2044 Pheasant Run Street, Shakopee
FHA
Active
55$419,900$124,189 down
- Rate
- 2.73%
7.28%today- Payment
- $1,374/mo
$2,309today
- 4beds
- 3baths
- 2,356sqft
2060 Bridge Spur, Shakopee
VA
Active
48$309,900$95,498 down
- Rate
- 2.73%
7.28%today- Payment
- $996/mo
$1,674today
- 3beds
- 3baths
- 2,001sqft
4302 Mccoll Drive, Savage
VA
Active
36$699,999$256,017 down
- Rate
- 2.83%
7.28%today- Payment
- $2,105/mo
$3,492today
- 5beds
- 3baths
- 3,588sqft
8367 153rd Place, Savage
VA
Active
36$311,500$98,695 down
- Rate
- 3.21%
7.28%today- Payment
- $1,058/mo
$1,672today
- 3beds
- 3baths
- 2,072sqft
26535 Evergreen Court, Elko New Market
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 Prior Lake.
Live counts from the MLS feeds we index for Minnesota. Updated October 2026.
- Active listings
- 7
- UMe Certified / verified
- 0
- Lowest rate
- 2.39%
- Median rate
- 5.00%
- Median list price
- $439,900
- Median cash to assume
- $271,520
Prior Lake listings by locked rate
- Under 4%3 homes
- 4% – 5%0 homes
- 5% – 6%1 home
- 6% and up3 homes
Prior Lake listings by loan type
- FHA5 homesmedian 5.00%
- VA2 homesmedian 4.96%
FHA, VA, and USDA loans are assumable by law. Conventional loans almost never are.
By neighborhood
Assumable homesby Prior Lake ZIP code.
Each ZIP opens the Prior Lake map zoomed to its listings, in assumptions mode, with rate and payment filters ready.
Run the Prior Lake numbers
What an assumable ratedoes to a Prior Lake payment.
The sliders start at the median Prior Lake assumable listing: $439,900 list price and a 5.00% 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)$270,000
61% 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 Prior Lake
$975/mo
New loan at 7.20%$1,154
Assumed at 5.00%
$975
Every month$179
Over five years$10,755
Interest you never pay$111,31726-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 Prior Lake listing on UMe shows the actual balance, rate, and payment.
How it works in Prior Lake
How to assumea mortgage in Prior Lake.
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 Prior Lake home with a locked rate.
Every listing on this page carries an existing FHA, VA, or USDA loan. Filter the Prior Lake 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 $271,520 in Prior Lake 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 a Prior Lake payment written in a different decade.
Prior Lake questions
Assuming a mortgagein Prior Lake.
The numbers below come from current Prior Lake inventory and update as listings change.
All assumption FAQsHow many assumable homes are for sale in Prior Lake?
As of October 2026, UMe tracks 7 active assumable listings in Prior Lake. Inventory refreshes from the MLS throughout the day, so the map may show slightly different counts.
What types of assumable loans are available in Prior Lake?
Current Prior Lake inventory breaks down as FHA (5, median 5.00%) and VA (2, median 4.96%). 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 Prior Lake?
The lowest rate on an active Prior Lake assumable listing is 2.39%, and the median across all 7 listings is 5.00%. 3 listings are under 4% and 3 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 Prior Lake?
Across current Prior Lake listings, the median principal-and-interest payment on the assumable loan is $2,273 per month versus $2,675 for the same balance at today's rates, a difference of about $402 every month, or $4,819 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 Prior Lake?
When you assume a loan you pay the seller the difference between the list price and the remaining loan balance. In Prior Lake that gap is currently a median of $271,520 on a median list price of $439,900. 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 Prior Lake ZIP codes have the most assumable homes?
The Prior Lake ZIP codes with the most active assumable listings are 55372 (6) and 55378 (1). 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 Prior Lake?
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 Prior Lake.The rate is already on the house.
Every listing on the Prior Lake map has a rate you can take over. Start with the ones in Prior Lake, get pre-qualified in minutes, and let UMe carry the assumption to closing.
