Home prices were already high when Ellen Harper, a software architect living in Atlanta, started searching for a house in 2021.
But she couldn’t have anticipated the quick surge in interest rates the following year and, even with a large down payment, the new math made her uneasy.
It’s an amount she’ll be able to comfortably afford into retirement thanks, in large part, to a 2.49 percent mortgage rate.
That’s less than half the current rate of 7.09 percent on 30-year-fixed loans, the most popular type of mortgage.
She found her home through Roam, a start-up that went live in September that lists homes with assumable low-rate loans, and assists buyers through the process.
Persons:
Ellen Harper, Harper, Ms, ”
Locations:
Atlanta, Fairburn