Assuming a loan means assuming their credit??

When you assume a loan do you also assume the previous owners credit history on the loan as well? Even with FHA and other assumable loans? What is a good rule of thumb.

Thanks CB

No, you only assume responsibility for the loan. Credit history remains with the individual.

however when u assume a loan, you still have to meet the criteria established by the lender. you can’t just assume a loan without first being qualified and then approved by the lender