Yes. Assuming an FHA loan means qualifying much the way you would for a new FHA loan: credit, income, and debt-to-income all get reviewed. An assumption does not skip underwriting. What you inherit is the seller's rate and remaining balance. (Only FHA loans with applications from before December 1986 were freely assumable, and those are ancient history.) One helpful dynamic: servicers are generally willing to process assumptions because they keep earning on the servicing regardless of the interest rate, so they have a reason to cooperate rather than stall. VA loans are assumable too, with a notable wrinkle: a non-veteran buyer can assume a VA loan. The assumer still has to credit- and income-qualify with the servicer or the VA, and a funding fee generally applies, but stepping into a seller's low fixed rate from an earlier period can be a real advantage. The practical catch on any assumption is the equity gap. You take over the seller's remaining balance, so if the home is worth substantially more than that balance, you cover the difference with cash or a second loan. Get the servicer's current assumption process and requirements early, because timelines and approval steps vary.