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Take over the existing mortgage terms from the seller
An assumable mortgage is a type of home loan that allows homebuyers to take over the existing mortgage terms from the seller. This can benefit buyers by allowing them to cut their monthly mortgage payment in half.
Most government-backed loans, such as FHA-insured and VA-guaranteed loans, are eligible for assumption.
Supercharge your buying power with Roam Boost
We can help buyers reduce the down payment required to a minimum of 5-15% by using a 2nd mortgage.
Buying with Roam may significantly reduce your monthly payments
Buyers who qualify for an FHA or VA loan may also qualify for a low-rate mortgage assumption.
We’ll navigate the process with the servicer on your behalf. When you assume a mortgage, there’s no required appraisal.
Assuming a low-rate mortgage may significantly reduce your monthly payments compared to a new mortgage at current prevailing rates.
For example, assuming a $520k mortgage at a rate of 2.5% could save you as much as $1,650 in monthly principal and interest payments compared to a $520k mortgage with a 6.5% interest rate. All calculations are estimates and provided for informational purposes only. Actual amounts may vary.
Ellen Harper found a home with a 2.49% assumable mortgage rate
“I was looking for a reasonable mortgage that I could afford now and in the future. The prices had skyrocketed 30 to 40%.”
Ellen Harper, home buyer from Atlanta, GA
Common myths about assumable mortgages, debunked
“Roam has been there every step of the way. With Roam, I’ve found the perfect home for my family at an incredibly affordable rate.”
Matthew S.
Buyer in Atlanta, GA at Perk Prop
“By including their low-rate mortgage, my sellers have seen significant buyer interest. In today’s market, Roam gives sellers that edge they need.”
Landen M.
Listing agent in Dallas, TX at Century 21
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Frequently asked questions
What is Roam?
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.
What is an assumable mortgage?
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.
Why is an assumable mortgage valuable?
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.
Will an assumption work for me?
An assumption might be a suitable option for you if you meet the lender’s qualifications. We also offer Roam Boost to help buyers reduce the down payment required to a minimum of 5-15%. See below for more FAQs specific to Roam Boost.
Why do buyers use Roam?
Assuming a mortgage can seem complex and unfamiliar. We simplify the process by providing white-glove support and expertise at every step. Roam helps home buyers find and purchase homes with a low-rate assumable mortgage included. Once you find your dream home, Roam manages the process of assuming a low-interest rate mortgage, helping buyers save thousands a year on mortgage payments compared to buying with a traditional mortgage at today’s rates. On average, buyers who use Roam save $15,000 in mortgage payments annually.
