What Is Required to Assume an SBA 504 Loan? Assumption of Loan Requirement Letter for disaster loan servicing action request packages.About this document and download. What information do I need to provide during this process? An assumable mortgage is a type of home loan that can be transferred to a new borrower. AssumeList is a unique real estate tool that allows prospective homebuyers, investors, and agents the ability to find homes for sale with an assumable mortgage. Complete the assumption agreement: Fill out and sign the loan assumption agreement, which legally transfers the mortgage responsibility to you. SBA loans are fully assumable with SBA approval. Getting this approval, however, can be very complex.