Keith Rabua from Khosla leads a series of $ 11.5 million to wander startup, called “The Future of the Housing Market”

During the Covid-19s, interest rates on the mortgage decreased to their lowest historical levels-reaching 2.5 %.

Fast forward a few years and prices rose-to the highest levels close to 8 % in 2023, with Fixed national mortgage for 30 years As of April 1, it is still at 6.84 %.

Whiplash has left many people who seek to buy closed homes outside the market.

But what if there is a way to get interest rates from previous years? With supposed real estate mortgages, there may be. The supposed mortgage is one where a loan is due It can be transferred to the buyer.

Enter WanderA New York -based emerging company with the task of providing “thousands” of homes with supposed real estate loans throughout the country.

The CEO of Raunaq Singh – who worked in the product for three years in OpenDoor – Roam in September 2023. Roam has helped facilitate $ 200 million home sales for “several hundred” buyers in 2024. More than 200,000 buyers have registered on the past 12 months. While Singh did not reveal difficult revenue numbers, Techcrunch was told that each buyer wanders 1 % of the purchase price. Mathematics, 1 % of $ 200 million translates into roaming to achieve $ 2 million of revenue in 2024.

Singh claims that supposed loans can provide buyers by up to 50 % on their monthly payments compared to the current mortgage purchases.

Singh admits that the property rights should be disbursed to the seller, noting that Roam has built a product that makes it possible for buyers to less than 5 % so that they can get a mixed rate of 5 % (or less). “

For example, he said, for a house at a sales price of $ 420,000, where the seller has 2.25 % and $ 135293 of stocks – the buyer does not need to bring the full amount as a payment payment.

“You can get 20 %, that is, 84,000 dollars, and get the fund financing for the remaining $ 51,000 to receive a 3.45 % mixed rate to save hundreds of thousands of dollars,” Singh said. “As long as you are eligible to get a FHA or VA loan, you will qualify to take a mortgage with ROAM. If you can’t qualify home with roaming, it is unlikely to be able to buy a house at all.”

Today, startup Work in 17 statesIncluding Arizona, California, Florida, Texas, and North Carolina. She has plans to be at the level of the country by the end of the year and Singh expects Roam to witness home sales of one billion dollars that facilitate its platform in 2025.

This may seem ambition, but Keith Rabua, Managing Director of Khosla Vincents, who led the new $ 11.5 million financing, believes that the young woman is the “future of the housing market”.

“There is a cost -cost housing crisis in America, and wandering is the best company to address,” Rabua told Techcrunch.

The investor, who joins the Roam Board of Directors as part of the series A series, indicated that he knows Singh and other members of the Roam team from the time of the founder at PROPTECH, who publicly circulated, who co -founded Rabois with Eric Woo in 2014.

“After I worked with them previously, I was enthusiastic about their potential to alleviate the capacity of housing costs by reducing the monthly payments to buyers and bringing sellers with low -rate real estate loans,” Rabua said. “While most companies that provide consumers help save money help them save a few hundred dollars annually, roaming can save 30 % of Americans over $ 200,000 over their loan.”

It also participates in Roam’s Series A Backer Foundation Box. It is worth noting that the tour met one week after the start of the lifting process, according to Sing.

“We held a meeting on the field on Monday, a paper on Tuesday, and we signed on Friday.”

Since its inception, Roam raised a total of about $ 16 million in three rounds. The last round represents three times on the side of Rabua. In September 2023, she raised roaming $ 1.25 million in the pre -seed tour Leading Rabua when he was in the Founders’ Fund. Wu, CEO Culdesac Ryan Johnson, and his founding partner Jana Messerschmidt in the tour.

Then in May 2024, raised A seed tour of $ 3 million Little Rabua, while he is still in the Founders’ Fund. Among the other investors on that tour are the founder of Doordash Tony Show, Figma Dylan Field, and founder of UPSTART Paul Gu. The start starting does not reveal the evaluation.

How to work

Historically, according to Singh, if buyers search Zillow from the supposed real estate loans in a city like Houston, they will be possible to find minimal or non -existent results.

He said: “A very few sellers or listing agents know that they have a supposed mortgage, so they do not think about announcing it.” With ROAM, it claims that buyers can find more than 2000 supposed real estate loans in Houston alone listed for sale today.

Even if the buyers realize that the seller has a supposed loan, obtaining approval on an assumption may take up to 45 days, according to Sing.

He said: “The falls were not to agree to them very painful for the seller because they would have to re -include the house, and this made the listing agents skeptical of accepting the supposed offers.” “With roaming, buyers can obtain prior approval before submitting an offer, which greatly increased the rate of acceptance of offers by the roaming buyers.”

Singh also claims that roaming speeds up the owner of the home.

“Without roaming, it takes 180 days to close the supposed mortgage,” he said. “With roaming, it’s 45 days.” And if the roaming is not closed in 45 days? The mortgage will pay the seller until it occurs.

The company is also working to ensure that all sellers are launched from responsibility, and any subsequent payments by the buyer or not doing will not affect the seller’s credit.

Nowadays, Roam has 12 employees. Singh said that an emerging company aims to not develop the number of employees in line with-where the employees increased by about 2.5X on an annual basis compared to the increase in revenues by about 5 times on an annual basis.

“We have found that the product allows the growth of revenues without increasing the linear costs.”

The opportunity there, Singh believes.

“1.4 trillion dollars of mortgages, which is not supposed to be fully supposed, originated in 2020 and 2021,” he said. Documents From the Consumer Financial Protection Office (CFPB). “It was one of the three homes that arose or re -financing during those low years qualified to get the opportunity.”