SWEAT EQUITY SPECIAL OPPORTUNITY – 5 ACRES IN HARRAH! Available upon request: Copy of 2026 AS-IS-Condition Appraisal Rare opportunity to acquire approximately 5.03 acres in Harrah with an existing 4-bedroom, 2.5-bath manufactured home offering renovation, rental, or long-term investment potential. This bank-owned/REO property is being sold STRICTLY AS-IS, WHERE-IS. Seller has never occupied the property and makes no warranties, representations, repairs, disclosures, or repair credits. Buyer is responsible for all inspections and due diligence. IMPORTANT: Utilities are currently off and will not be activated by the seller. Property condition may limit financing options. Buyers should verify loan eligibility with their lender prior to submitting an offer. Seller will not complete lender-required repairs or make repairs of any kind. Property is ideally suited for cash purchasers, investors, hard money financing, commercial financing, or buyers utilizing financing that does not require seller repairs. Experienced investors and buyers familiar with as-is acquisitions are encouraged to inquire. All systems, structures, improvements, well, septic, foundation, and property condition are to be accepted in their current condition. Buyer to independently verify all information. Proof of funds required with cash offers. Prequalification or lender approval letter required with financed offers. If you're looking for acreage with upside potential and aren't afraid of a project, this is an opportunity worth exploring.
Roam is your trusted partner for affordable home ownership. We help manage the assumption process from start to finish, enabling homebuyers to easily purchase their next home with a low-interest rate mortgage attached.
To qualify, you must meet the current FHA, VA, or USDA loan requirements depending on the type of loan you are assuming. This typically means a minimum credit score of 580, although most lenders prefer 620-640. Your debt-to-income ratio should be under the 50% max under FHA guidelines. Additional information such as employment history, explanations of income for each applicant, and asset verification for a down payment may be needed to process the loan.
An assumable mortgage is a type of home loan that allows a homebuyer to take over the existing mortgage terms from the seller, with no cost to the seller. Many government-backed loans, such as FHA and VA loans, are eligible for assumption, and millions of these mortgages are available.
When interest rates on mortgages are high, assuming a mortgage with a rate as low as 2% allows buyers to save up to thousands monthly compared to buying a home with a traditional mortgage at today’s average rates of 7%. A low-rate assumable mortgage could be the key to finding your dream home at an affordable price.
Roam has compiled available listings with low-rate assumable mortgages for you to browse. To get started, enter the city, state, zip code, or school district you’re interested in purchasing in. Utilize the search filters to narrow down your search. Click “Save search” to save your search preferences and activate listing notifications—we’ll email you as soon as new listings match your criteria.
Once you’ve found your dream home and ready to make an offer, schedule a call with a Roam Advisor directly from the listing. Your Roam Advisor will guide you through each step of the process, while also working directly with your agent, the servicer, and the seller to ensure you close on time.
When assuming the existing mortgage as part of a home purchase, the buyer has to cover the seller’s equity in the home. The seller’s equity is the purchase price minus the remaining mortgage balance. This amount must be covered in full through an all-cash down payment or by taking out a second mortgage.
Yes. Non-veterans can assume a VA loan, provided they meet the lender’s VA criteria. When a qualified buyer assumes a VA mortgage from a veteran or active-duty service member, the seller’s VA loan entitlement remains tied to the assumed loan until the buyer pays off or refinances the loan. This process restores the veteran seller’s entitlement, enabling them to use their VA benefit for a future home purchase.
Yes. All FHA loans are assumable by law as long as the buyer meets the FHA’s credit, income, and qualification requirements and obtain lender approval before assuming the loan (per FHA regulations effected December 15, 1989). Roam makes this process simple for buyers.
Generally, conventional loans are not assumable. In rare cases, a conventional loan may be assumable with lender approval. Use our search tool to find homes with assumable low-rate loans, or reach out to us if you’d like to confirm a specific home’s assumability.
