Portable Mortgages in the U.S.: Status Heading Into 2027
Portable mortgages — which let a borrower move an existing rate, term and balance to a new home — are not available as a mainstream U.S. product as of October 2026. FHFA Director Bill Pulte said in November 2025 the agency is 'actively evaluating portable mortgages,' and the MOVE Act introduced by Rep. Tom Kean in August 2026 would require Fannie Mae and Freddie Mac to buy them. Assumable mortgages already exist for FHA, VA and USDA loans; FHA caps the servicer assumption fee at $1,800 (raised from $900 in 2024).
Portable Mortgages 2027: Can You Take Your Low Rate to a New Home?
Millions of owners feel stuck with a 3% mortgage while rates sit near 7.4%. Washington is debating portable mortgages to fix that. Here is the real status, what would change in 2027, and how buyers can already capture a low rate today.
Portable vs. Assumable: The Key Difference
| Portable mortgage | Assumable mortgage | |
|---|---|---|
| Loan follows | The borrower (to a new home) | The property (to the buyer) |
| Who benefits | Seller who moves | Buyer who takes over the loan |
| Available in U.S.? | Extremely rare | Yes — FHA, VA, USDA |
| Conventional loans | Proposed (MOVE Act) | Fixed-rate: mainly death or divorce |
| Common elsewhere | Canada | — |
Where Things Stand for 2027
- November 2025: FHFA Director Bill Pulte: "At Fannie and Freddie, we are evaluating how to do assumable or portable mortgages, in a safe and sound manner," followed by "We are actively evaluating portable mortgages."
- January 2026: Pulte said the administration had "other priorities" than the separate 50-year mortgage idea.
- August 2026: Rep. Tom Kean (R-N.J.) introduced the Making Ownership Viable for Everyone (MOVE) Act, which would require Fannie Mae and Freddie Mac to buy and securitize mortgages whose rate, terms and balance can transfer to a new property.
- Today: no portable product from Fannie or Freddie, and no enacted law.
Bottom line: do not plan a 2027 move around a product that does not exist yet. Plan around what you can do now.
What Works Today: Assume a Low-Rate Loan
Assume $300,000 at 3%
~$1,265/mo
Principal & interest, 30-year schedule
New $300,000 loan at 7.40%
~$2,077/mo
Freddie Mac average, Oct 15, 2026
Illustration only: about $812/month difference. In practice you take over the remaining balance and term, and pay the seller's equity in cash or with a second loan.
- 1. Search listings for "assumable" FHA, VA or USDA loans.
- 2. Qualify with the servicer (credit, income, DTI) — just like a new loan.
- 3. Plan the equity gap: cash, a HELOC-style second, or seller financing.
- 4. VA assumptions: check entitlement — the seller's entitlement can stay tied to the loan unless a qualified veteran substitutes theirs.
Talk to FHA lenders → · Compare VA lenders → · Full guide: assumable mortgages
Stuck With a Low Rate and Need to Move?
- → Rent out the current home and keep the low rate — see investment property mortgages 2027.
- → Sell to a buyer who assumes your FHA/VA loan — a selling point when rates are 7%+.
- → Use a buydown or ARM on the next home — 8 strategies for 7% rates.
Can't Port Your Rate Yet? Beat 7.40% Another Way
Compare assumptions, buydowns and new-loan quotes — free.
FAQ: Portable Mortgages 2027
Are portable mortgages available in the U.S. in 2027?
Not as a mainstream product as of October 2026. FHFA Director Bill Pulte said in November 2025 that the agency is "actively evaluating portable mortgages," and Rep. Tom Kean (R-N.J.) introduced the MOVE Act in August 2026 to require Fannie Mae and Freddie Mac to buy and securitize them. Neither has created a product borrowers can apply for yet. Compare today's best alternatives →
What is the difference between a portable and an assumable mortgage?
A portable mortgage moves with the borrower: you transfer your existing rate, terms and balance to a new home you buy. An assumable mortgage stays with the property: a buyer takes over the seller's existing loan. Assumable loans already exist in the U.S. for FHA, VA and USDA mortgages; portable loans are common in Canada but extremely rare in the U.S. Find lenders experienced with assumptions →
Can I assume a conventional mortgage?
Usually not. Fannie Mae and Freddie Mac restrict assumptions of fixed-rate mortgages to specific circumstances such as death or divorce. FHFA has said Fannie and Freddie are evaluating how to do assumable or portable mortgages in a safe and sound manner, but no broad rule change has been announced. Compare a new loan against an assumption →
How much can assuming a low-rate mortgage save?
As an illustration, a $300,000 balance at 3% costs about $1,265 a month in principal and interest on a 30-year schedule, versus about $2,077 at 7.40%, the Freddie Mac average on October 15, 2026 — roughly $812 a month. The buyer must still qualify with the servicer and pay the seller's equity with cash or a second loan. Get pre-approved to assume a loan →
What does an FHA loan assumption cost?
FHA caps the fee a servicer can charge to process, underwrite and close an assumption. The cap was raised in 2024 to $1,800 from $900. You will still have normal closing costs such as title and recording, and you may need financing for the seller's equity. Talk to FHA lenders about assumptions →
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