Can Rocket Mortgage loans be assumed by another borrower?

Typically, Rocket Mortgage loans, like most conventional loans, are not assumable. An assumable mortgage allows a new borrower to take over the loan terms and payments from the current owner with the lender's approval. This feature is generally associated with specific types of loans, such as some FHA and VA loans. With Rocket Mortgage, if a borrower wishes to have another party take over their mortgage, they would usually need to go through the process of that person obtaining their own home loan. The new borrower would apply for a mortgage, and upon approval, use that new loan to pay off the existing Rocket Mortgage. Therefore, someone interested in assuming a Rocket Mortgage should contact the lender directly to explore their options and understand any potential requirements or limitations.