Yes. A second mortgage or HELOC is one of the main ways buyers bridge the gap on an assumption, and secondary financing is allowed for exactly that purpose. In a normal sale, the assumable loans are the government ones: FHA, VA, and USDA. Conventional fixed-rate loans carry a due-on-sale clause that blocks assumption in an arms-length purchase (they can be assumed in protected transfers like divorce or inheritance, which does not help a buyer). Because the seller usually has far more equity than remaining balance, you have to cover the difference between the low assumed balance and the purchase price, and that is where the second lien comes in. The down payment rules follow the loan type. VA has no minimum down payment for an eligible borrower with sufficient entitlement, while FHA still requires its standard minimum borrower contribution, 3.5% for most buyers. For the gap itself, a secured second mortgage or a HELOC is almost always cheaper than an unsecured personal loan, which can run well into double digits. One point to verify before you count on it: some VA lenders hold that secondary financing behind an assumed VA loan may itself need to be assumable, which can be hard to source, so confirm that directly with the lender or the VA. The bigger practical hurdle is that an assumption has no loan officer shepherding it the way a normal purchase does, and many agents are not equipped for this piece, so buyers often navigate it largely alone. If you are weighing an assumable listing, we are happy to run the gap-financing numbers with you in the free Roadmap conversation, about 20 minutes, so you know what that second lien actually costs before you write the offer.