“Opendoor completely reimagined the way that consumers buy and sell homes,” Raunaq Singh, the founder and CEO of Roam, said in a statement. “By pairing Roam’s assumption infrastructure with Opendoor’s marketplace experience, we can help sellers get more for their home sale and help buyers access low-rate financing. This allows consumers to move with confidence — regardless of the rate cycle.”
According to the release, with this integration, Opendoor will identify homes with assumable mortgages and surface Roam as a pathway for qualified sellers to pursue a higher sales price. The firms said they would begin this process eligibility coordination, education and agent enablement, but see opportunities to deepen integration in the future.
The firms noted that Roam’s founder Raunaq Singh previously led Opendoor’s mortgage operation and that the company is backed by Opendoor co-founders and board members Keith Rabois and Eric Wu. Roam’s Series A funding round, which earned it $11.5 million, was led by Rabois’ venture capital firm Khosla Ventures.