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Assumable Homes for Sale in Francis, Utah
Francis sits at the north end of the Kamas Valley, a quiet stretch of Summit County between the Provo River and the base of the Uintas, about 30 minutes from Park City and 20 from Kamas proper. It's ranch country turned into a bedroom community for people who want acreage, dark skies, and a school district (South Summit) that still feels like a small town. Because so much of Francis was built or resold during the 2020-2022 run when rates sat in the 2.5-3.5% range, there's a real pocket of FHA and VA loans out there that a qualified buyer can step into rather than finance new at today's rates. That gap between an assumable rate and a current 30-year fixed can mean a few hundred dollars less per month on a Francis price tag, which often lands in the $700K-$1.2M range for anything with acreage or a view of the valley.
Assumable listings don't show up in bulk here — Francis is a small market, often under two dozen active listings total — so timing and agent knowledge matter more than in a bigger city. Sellers with VA loans in particular are worth watching closely, since VA assumption doesn't require the buyer to be a veteran, just qualified by the lender. Loan servicers also move slower on these than on a standard purchase, so buyers need to budget extra weeks for the assumption to close, not days. Browse the active listings below to see what's currently on the market with an assumable loan attached.
July 2026 · Francis market
Live from the Utah MLS — what's actually happening in Francis right now.
Median sale
$1,450,000
3 closed in July 2026
Median DOM
181 days
listing → contract
Sale-to-list
96.7%
of final list price
Unsold inventory
18
active + pending
1 matching · page 1 of 1
Active listings
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Common questions
About assumable homes in Francis.
What is an assumable mortgage, and why does it matter in Francis right now? ▾
An assumable mortgage lets a qualified buyer take over the seller's existing loan, including the original interest rate and remaining balance. With many Francis sellers holding FHA or VA loans locked in at 2.5%–4% from 2020–2022, taking over that rate can save a buyer hundreds of thousands in interest versus a new loan at today's rates. It's one of the few ways to access cheap money in the current market.
Which loan types are actually assumable? ▾
FHA, VA, and USDA loans are assumable with lender approval. Conventional loans almost never are. In Francis and the surrounding Summit County area, VA assumptions show up fairly often because of the military and veteran population in the Wasatch Back, and USDA loans appear on more rural parcels east of town.
Do I need to be a veteran to assume a VA loan in Francis? ▾
No. Any qualified buyer can assume a VA loan, but if you're not a veteran, the seller's VA entitlement stays tied up with that property until the loan is paid off. That matters for the seller, not you — your monthly payment and rate are the same either way.
How does the down payment work on an assumption? ▾
You owe the difference between the sale price and the remaining loan balance in cash or a second mortgage. On a $900,000 Francis home with a $550,000 assumable balance, you'd need to cover roughly $350,000 at closing. That gap is the main reason assumptions don't work for every buyer, even when the rate is great.
How long does an FHA or VA assumption take to close in Utah? ▾
Plan on 45–90 days. The servicer — not the original lender — has to underwrite you and formally approve the transfer, and servicers are not in a hurry. Build that timeline into your offer and your rate-lock plans on any secondary financing you need for the equity gap.
Are there many assumable listings in a small town like Francis? ▾
Inventory is thin. Francis only has a few hundred homes total, and assumable listings come and go quickly. The active count below reflects what's currently on the market — if nothing shows, it's worth setting a saved search and checking nearby Kamas, Woodland, and Oakley as well.