VA
Active
50$475,000$274,679 down
- Rate
- 2.50%
6.95%today- Payment
- $1,062/mo
$1,778today
- 3beds
- 2baths
- 2,192sqft
Drake, Colorado
Assumable homes for salein Drake, Colorado.
4 homes in Drake carry an existing FHA, VA, or USDA loan you can take over, with locked rates from 2.50%. Assume the seller’s mortgage instead of financing at today’s 7.2%.
Live MLS data · Updated
Drake assumable market
by the numbers.
4active assumable listings
2.50%lowest locked rate
$563kmedian list price
$998saved per month vs. 7.2%
About the market
Assumable mortgagesin Drake, explained.
Every number on this page comes from the live MLS feeds UMe indexes for Colorado, filtered to Drake. Updated September 2026.
How assumptions work for buyersDrake, Colorado has 4 homes for sale with an assumable mortgage as of September 2026: 4 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 Drake assumable listings start at 2.50% with a median of 2.88%; 3 listings are under 4% and 3 are under 5%.
The median assumable home in Drake lists for $562,500, with a median of $266,757 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 $1,775 a month versus $2,773 for the same balance at today's rate, roughly $998 kept every month and $11,973 a year. The most active Drake ZIP codes are 80515 (4).
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 Drake assumptions close in 45 to 90 days, and UMe tracks the file with the servicer and both agents so nothing stalls.
Verified in Drake
View all 4 on the map Homes on the marketin Drake.
VA
Active
50$1,095,000$623,812 down
- Rate
- 2.87%
6.95%today- Payment
- $2,255/mo
$3,600today
- 4beds
- 2baths
- 1,897sqft
1050 Sunrise Drive, Lyons
VA
Active
40$650,000$268,181 down
- Rate
- 2.88%
6.95%today- Payment
- $1,775/mo
$2,830today
- 3beds
- 2baths
- 2,056sqft
130 Sly Fox Road, Drake
VA
Active
40$650,000$268,181 down
- Rate
- 2.88%
6.95%today- Payment
- $1,775/mo
$2,830today
- 3beds
- 2baths
- 2,056sqft
130 Sly Fox Road, Drake
FHA
Active
48$647,900$293,049 down
- Rate
- 3.31%
6.95%today- Payment
- $1,795/mo
$2,710today
- 2beds
- 2baths
- 1,144sqft
589 Keko Drive, Loveland
VA
Active
37$365,000$16,859 down
- Rate
- 6.36%
6.95%today- Payment
- $2,267/mo
$2,409today
- 2beds
- 1baths
- 1,080sqft
16 Misty Manor Road, Drake
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 Drake.
Live counts from the MLS feeds we index for Colorado. Updated September 2026.
- Active listings
- 4
- UMe Certified / verified
- 0
- Lowest rate
- 2.50%
- Median rate
- 2.88%
- Median list price
- $562,500
- Median cash to assume
- $266,757
Drake listings by locked rate
- Under 4%3 homes
- 4% – 5%0 homes
- 5% – 6%0 homes
- 6% and up1 home
Drake listings by loan type
- VA4 homesmedian 2.88%
FHA, VA, and USDA loans are assumable by law. Conventional loans almost never are.
By neighborhood
Assumable homesby Drake ZIP code.
Each ZIP opens the Drake map zoomed to its listings, in assumptions mode, with rate and payment filters ready.
Run the Drake numbers
What an assumable ratedoes to a Drake payment.
The sliders start at the median Drake assumable listing: $562,500 list price and a 2.88% 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
48% 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 Drake
$1,347/mo
New loan at 7.20%$2,002
Assumed at 2.90%
$1,347
Every month$655
Over five years$39,299
Interest you never pay$300,47326-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 Drake listing on UMe shows the actual balance, rate, and payment.
How it works in Drake
How to assumea mortgage in Drake.
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 Drake home with a locked rate.
Every listing on this page carries an existing FHA, VA, or USDA loan. Filter the Drake 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 $266,757 in Drake 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 Drake payment written in a different decade.
Drake questions
Assuming a mortgagein Drake.
The numbers below come from current Drake inventory and update as listings change.
All assumption FAQsHow many assumable homes are for sale in Drake?
As of September 2026, UMe tracks 4 active assumable listings in Drake. Inventory refreshes from the MLS throughout the day, so the map may show slightly different counts.
What types of assumable loans are available in Drake?
Current Drake inventory breaks down as VA (4, median 2.88%). 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 Drake?
The lowest rate on an active Drake assumable listing is 2.50%, and the median across all 4 listings is 2.88%. 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 Drake?
Across current Drake listings, the median principal-and-interest payment on the assumable loan is $1,775 per month versus $2,773 for the same balance at today's rates, a difference of about $998 every month, or $11,973 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 Drake?
When you assume a loan you pay the seller the difference between the list price and the remaining loan balance. In Drake that gap is currently a median of $266,757 on a median list price of $562,500. 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 Drake ZIP codes have the most assumable homes?
The Drake ZIP codes with the most active assumable listings are 80515 (4). 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 Drake?
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 Colorado More assumable homesin Colorado.
Ready when you are
Stop overpaying for Drake.The rate is already on the house.
Every listing on the Drake map has a rate you can take over. Start with the ones in Drake, get pre-qualified in minutes, and let UMe carry the assumption to closing.
