This legislation amends the Housing Act of 1949 to facilitate the assumption of guaranteed loans under the Doug Bereuter Section 502 Single Family Housing Loan Guarantee Program, aiming to improve rural homeownership continuity. The bill specifically permits the Secretary to allow qualified individuals to assume existing guaranteed loans when the property is transferred. A key provision ensures that the original borrower, along with any co-borrower or guarantor, will be relieved of liability for the guaranteed loan upon a successful assumption. The Secretary is also directed to ensure that all obligations, rights, and interests under the original loan terms, or other appropriate terms, are assumed by the new borrower. These new provisions will apply to all loans guaranteed on or after the date of the bill's enactment, and the Secretary of Agriculture may issue rules allowing servicers to charge fees for transaction costs related to these loan assumptions.