In a 7% mortgage rate market, 70% of Americans can now put 5% down to get a rate below 5%
New York, NY, April 3rd, 2025 – Qwoted Newswire – Roam, the platform for purchasing a home with an assumable low-rate mortgage included, today announced it secured a $11.5 million Series A round, led by Khosla Ventures, with participation by Founders Fund. Opendoor co-founder Eric Wu and Khosla Ventures partner Keith Rabois are joining Roam’s board. The funding will aid Roam’s expansion to 70% of the US, allowing buyers to get a rate below 5% and reduce their monthly payments.
With mortgage rates holding steady at ~7%, their highest level in decades, Roam offers a much-needed solution to the home affordability crisis and the ‘lock-in effect’ that has kept the housing market at a historic standstill. Roam helps homebuyers secure home loans as low as 2% by helping homebuyers access an assumable mortgage.
Assumable mortgages are home loans that allow a homebuyer to take over or assume the existing mortgage terms from the seller. All government-backed loans (e.g., FHA and VA loans) are eligible for assumption by law, comprising about one-third of mortgages in the U.S. Roam has made it possible to put down 5% and get a blended 5% rate – the magic number that the majority of buyers said they’d accept when buying their next home. Most buyers can close in 45 days or less instead of 150 days.
In the last 12 months, Roam has grown 500% and registered 200,000 buyers looking for a more affordable way to buy a house. Customers from around the country have requested access to low rates, so Roam has expanded to cities across the country, such as Atlanta, Denver, Houston, Jacksonville, Orlando, Phoenix, Baltimore, and San Antonio, to serve them.
70% of Americans can now access a 3% rate and reduce their monthly payments, often by more than $1,000 per month, giving them up to an additional $150,000 of purchasing power on their home.
“Roam exists to bring a tangible solution to aspiring home buyers and sellers looking to move on to their next chapter. Sellers are stuck at home waiting for viable offers, and buyers are desperate to find a more affordable way to purchase a home in a world where affordability keeps slipping further away. Roam unlocks the opportunity to make monthly payments affordable again. It’s like getting in a time machine and going back to 2021,” said Roam CEO Raunaq Singh.
Currently, both buyers and sellers are experiencing negative market dynamics. Homes are taking longer to sell, and the more days a home sits on the market, the more uncertainty the seller feels. Assumable mortgages are already making a significant impact in addressing these issues.
As rates climb higher with the macro volatility we have seen of late, affordability slips out of reach for millions more Americans. Roam helps reduce that affordability gap, the difference between what a buyer qualifies for and what they can afford, by allowing buyers to purchase with a 3% rate instead of a 7% rate.
This opportunity generates more demand for a home sale, given that the buyer can afford the monthly payment now and will save thousands over the life of the loan. This helps sellers sell their homes faster and net more proceeds.
“Assumable mortgages are the #1 non-inflationary lever that should be pulled over the next four years to make housing more affordable,” said Keith Rabois, Partner at Khosla Ventures. “There is no other option to address this generational crisis of housing affordability. Roam gives Americans the tools to save themselves from the increasing disconnect between what families can afford and what the median home sells for in this market.”
About Roam
Roam helps homebuyers wind back the clock and purchase their next home with a low-rate mortgage included. The company allows sellers to find more buyers in their home sale while enabling buyers to cut their monthly payments in half compared to buying the same house with a traditional mortgage. For more information on how we help buyers, sellers, and agents, please visit withroam.com.
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Media Contact
Full Name: Cristin Culver
Title: Head of Communications
Company Name: Roam
Email: cristin@withroam.com
Phone Number: 619-865-7019
Website: https://www.withroam.com
