The Problem With Today's Mortgage Market
If you've tried to buy a home recently, you already know the pain. Mortgage rates that sat at 2.5–3.5% during 2019–2021 have more than doubled. A $400,000 home that cost $1,400/month at a 2.75% rate now costs over $2,400/month at 7.5%. That's an extra $12,000 per year — just in interest.
But here's what most buyers don't know: some of those low-rate mortgages from 2020–2021 are still out there — and you can take them over.
What Is an Assumable Mortgage?
An assumable mortgage is exactly what it sounds like: you, the buyer, "assume" — or take over — the seller's existing mortgage. You inherit their loan balance, their loan terms, and crucially, their interest rate.
If a seller bought their home in 2021 at a 2.75% rate and they're selling today, a qualified buyer can step in and continue paying that 2.75% rate instead of getting a new loan at 7.5%. The difference is enormous.
Not all mortgages are assumable. The two major loan types that allow assumption are:
- •FHA loans (Federal Housing Administration) — assumable by any qualified buyer
- •VA loans (Department of Veterans Affairs) — assumable by veterans and, in many cases, non-veterans too
Conventional loans (the most common type) are generally not assumable.
What Is ROAM?
ROAM is a fintech company that has built a platform specifically for assumable mortgage transactions. They've partnered with major servicers to streamline the assumption process — handling paperwork, working with lenders, and making what used to be a months-long nightmare into a manageable 45–60 day process.
Kevin Hosner is one of a small number of ROAM-certified agents in the Southeast — meaning he's been trained and approved to find, list, and close ROAM assumable transactions. If you're looking for an assumable mortgage in Metro Atlanta or anywhere in Florida, Kevin is one of the only agents who can actually make it happen.
How Much Can You Actually Save?
Let's run the real math. Assume a $450,000 home:
| Scenario | Rate | Monthly Payment | 30-Year Total Interest |
|---|---|---|---|
| New mortgage today | 7.5% | $3,146 | $683,560 |
| ROAM assumable | 2.75% | $1,837 | $211,320 |
| Monthly savings | $1,309/mo | $472,240 |
That's not a rounding error. That's over $470,000 in savings over the life of the loan — or more than $1,300 every single month. For many buyers, finding a ROAM listing is the difference between affording their dream home and getting priced out entirely.
How Does the Process Work?
Assuming a mortgage is more complex than a standard purchase, but Kevin and the ROAM platform handle most of the heavy lifting:
1. Find a ROAM-eligible listing — Kevin identifies homes with assumable FHA or VA mortgages in your target area and price range.
2. Submit an offer with assumption language — The purchase contract includes specific terms for the mortgage assumption.
3. Qualify with the existing lender — You apply directly with the seller's loan servicer (not a new lender). Qualification is based on your credit and income, similar to a standard mortgage.
4. ROAM handles lender coordination — Their platform manages the paperwork and follows up with servicers to keep the process on track.
5. Close and assume the loan — At closing, the mortgage transfers to your name at the original rate.
The Gap: What You Need to Know
One important consideration: the assumable loan balance is almost certainly less than the home's current purchase price. If the home sells for $450,000 but the assumable loan balance is $340,000, you need to cover the $110,000 gap — either in cash or with a second mortgage (called a "gap loan").
ROAM and several specialized lenders have developed products specifically for this gap, making it workable for buyers who don't have hundreds of thousands in cash sitting around.
Is ROAM Right for You?
ROAM assumable mortgages are a great fit if you:
- •Are buying in the $300K–$900K range where FHA and VA loans were common during the low-rate era
- •Have decent credit (typically 620+ for FHA assumptions)
- •Are flexible on exact home selection — you need to find a home with an existing assumable loan
- •Are okay with a slightly longer closing timeline (45–60 days vs. 30 days standard)
- •Are a veteran or working with a veteran seller (VA-to-VA or VA-to-civilian assumptions)
Finding ROAM Listings in Atlanta and Florida
Kevin Hosner actively scouts and markets assumable mortgage properties across Metro Atlanta and all of Florida. He knows which zip codes have the highest concentration of 2019–2022 FHA and VA loans, which sellers are open to assumption, and how to structure the deal so it works for both sides.
If you want to find out whether there are ROAM opportunities in your target neighborhood, reach out to Kevin directly. It's a free conversation — and it might save you $1,000 a month for the next 30 years.