Silver Bay, Minnesota
Assumable homes for salein Silver Bay, Minnesota.
1 home in Silver Bay carries an existing FHA, VA, or USDA loan you can take over, with locked rates from 6.12%. Assume the seller’s mortgage instead of financing at today’s 7.2%.
Live MLS data · Updated
Silver Bay assumable market
by the numbers.
Assumable mortgagesin Silver Bay, explained.
Every number on this page comes from the live MLS feeds UMe indexes for Minnesota, filtered to Silver Bay. Updated November 2026.
How assumptions work for buyersSilver Bay, Minnesota has 1 home for sale with an assumable mortgage as of November 2026: 1 FHA loan 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 Silver Bay assumable listings start at 6.12% with a median of 6.12%; 0 listings are under 4% and 0 are under 5%.
The median assumable home in Silver Bay lists for $189,000, with a median of $127,079 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 $632 a month versus $730 for the same balance at today's rate, roughly $97 kept every month and $1,166 a year. The most active Silver Bay ZIP codes are 55614 (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 Silver Bay assumptions close in 45 to 90 days, and UMe tracks the file with the servicer and both agents so nothing stalls.
Homes on the marketin Silver Bay.
No verified listings in Silver Bay yet.
New assumable listings land every week across Minnesota. Search the full map, or save a Silver Bay search and we’ll email you the moment one appears.
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.
What’s in the mixin Silver Bay.
Live counts from the MLS feeds we index for Minnesota. Updated November 2026.
- Active listings
- 1
- UMe Certified / verified
- 0
- Lowest rate
- 6.12%
- Median rate
- 6.12%
- Median list price
- $189,000
- Median cash to assume
- $127,079
Silver Bay listings by locked rate
- Under 4%0 homes
- 4% – 5%0 homes
- 5% – 6%0 homes
- 6% and up1 home
Silver Bay listings by loan type
- FHA1 homemedian 6.12%
FHA, VA, and USDA loans are assumable by law. Conventional loans almost never are.
Assumable homesby Silver Bay ZIP code.
Each ZIP opens the Silver Bay map zoomed to its listings, in assumptions mode, with rate and payment filters ready.
What an assumable ratedoes to a Silver Bay payment.
The sliders start at the median Silver Bay assumable listing: $189,000 list price and a 6.12% 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.
68% of the price. Eligible buyers can start with as little as 5% down using a second loan for the rest.
Estimates for illustration. The real numbers depend on the loan, the servicer, and your qualification; every Silver Bay listing on UMe shows the actual balance, rate, and payment.
How to assumea mortgage in Silver 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 Silver Bay home with a locked rate.
Every listing on this page carries an existing FHA, VA, or USDA loan. Filter the Silver 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, a median of $127,079 in Silver Bay 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 Silver Bay payment written in a different decade.
Assuming a mortgagein Silver Bay.
The numbers below come from current Silver Bay inventory and update as listings change.
All assumption FAQsHow many assumable homes are for sale in Silver Bay?
As of November 2026, UMe tracks 1 active assumable listing in Silver Bay. Inventory refreshes from the MLS throughout the day, so the map may show slightly different counts.
What types of assumable loans are available in Silver Bay?
Current Silver Bay inventory breaks down as FHA (1, median 6.12%). 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 Silver Bay?
The lowest rate on an active Silver Bay assumable listing is 6.12%, and the median across all 1 listing is 6.12%. 0 listings are under 4% and 0 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 Silver Bay?
Across current Silver Bay listings, the median principal-and-interest payment on the assumable loan is $632 per month versus $730 for the same balance at today's rates, a difference of about $97 every month, or $1,166 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 Silver Bay?
When you assume a loan you pay the seller the difference between the list price and the remaining loan balance. In Silver Bay that gap is currently a median of $127,079 on a median list price of $189,000. 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 Silver Bay ZIP codes have the most assumable homes?
The Silver Bay ZIP codes with the most active assumable listings are 55614 (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 Silver 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.
More assumable homesin Minnesota.
Stop overpaying for Silver Bay.The rate is already on the house.
Every listing on the Silver Bay map has a rate you can take over. Start with the ones in Silver Bay, get pre-qualified in minutes, and let UMe carry the assumption to closing.