Definition of "assumable" []

• Of or pertaining to assumption. (adjective)

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• "What is the probability that you will find an inexpensive home that you can buy for sixty cents on the dollar with nothing down that has a low-interest-rate, long-term assumable loan?"
• "The deal also included $11 million in long-term assumable financing, clearing another hurdle during the ongoing credit crisis."
• "When interest rates rise, these homeowners will get blown out of their homes, and when that happens, their low fixed rate mortgage will disappear (remember, fixed rate loans are not assumable!) and lenders will be happy to lend it out again at a much higher rate."