Want a three percent mortgage rate? Give assumable mortgages a look

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With mortgage rates lingering above 7% a lot of potential homebuyers may be tempted to sit on the sidelines and wait for rates to come down. But Roam CEO Raunaq Singh suggests buyers and sellers take a look at assumable loans. Assumable loans, according to Singh, are loans in which the buyers "take over the interest rate that the seller currently has." In other words, the rates that the seller paid are the same rates the new buyer will pay. This, according to Singh allow for more affordability and increases opportunities for sellers. Roam takes 1% of purchase price from each sale made through their site.