Raunaq Singh, CEO and Founder of Roam, discusses assumable low-rate mortgages in residential real estate. Topics include history of assumable mortgages, market size, challenges for buyers/sellers, Roam's partnership with agents, benefits for buyers/sellers, underwriting process, and future trends in the real estate market.
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Raunaq's Career Journey
Raunaq Singh's career began at Uber, handing out phones to taxi drivers in NYC.
He then worked at Opendoor, where he became a loan officer and discovered his passion for mortgages.
insights INSIGHT
Interest Rate Impact
Rising interest rates created a significant economic shift, making homes unaffordable for many.
This also discouraged sellers from listing, further impacting the market.
insights INSIGHT
Assumable Mortgages
Any government-backed mortgage (FHA and VA) is assumable by law.
This means the buyer takes over the seller's existing low rate, potentially saving significantly.
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We've got a solid interview for y'all this week. Raunaq Singh, Founder and CEO of Roam, comes on the show to discuss their platform for purchasing homes using assumable low-rate mortgages.
Raunaq digs into the history of assumable mortgages, the potential size of the market, and the challenges and opportunities for buyers and sellers. Raunaq also explains how Roam is working with agents, and is addressing misconceptions about assumable mortgages. We discuss the potential impact on real estate transactions as a whole nationwide—but also how much education is necessary to drive that impact. We also get into the benefits for both buyers and sellers, the underwriting process, and the future trends in the real estate market.
Listen in!
More about Ranuq and Roam Roam is a platform that enables homebuyers to purchase a home with an assumable low-rate mortgage included and save up to 50% on monthly payments compared to buying the same house with a traditional mortgage. To date, Roam has helped buyers save $12k per year and $350k over the life of their loan compared to taking out a new mortgage. To date, over 500k buyers have used Roam to find their next home with a low-rate assumable mortgage.
Raunaq Singh is the founder and CEO of Roam, the platform for purchasing a home with an assumable, low-rate mortgage included. Prior to founding Roam, Raunaq spent a decade in various product and operations roles across Uber, Opendoor, and Culdesac. He received a Bachelor's degree in Political Economy from NYU and currently resides in New York City.
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