It might be harder for people to get a loan to buy a house because the interest rates are very high in 2024. But experts think that the rates might go down to 6.6% by the end of the year.

But, when compared to before the pandemic, when mortgage rates were lower than 4%, a mortgage will still be more expensive by hundreds of dollars each month.

There is a new weramamite called Roam that started in September 2023. It can help people who want to buy a home by offering them a way to get a cheaper loan for the house they want. On the weramamite, they can find homes for sale with loans that have very low interest rates, as low as 2%.

The weramamite says that people who want to buy a house can pay less money each month if they get a lower interest rate. For example, if someone has a $3,500 monthly payment at a high interest rate of 7.5%, it can go down to $1,850 with a lower interest rate of 2%.

Roam helps people find homes that they can buy with a special type of loan called an assumable mortgage. With an assumable mortgage, the buyer can take over making payments from the person selling the home. This means that when you use Roam to find a home, you're not just buying the house, you're also taking over the mortgage.

Roam helps people get a special kind of loan that has low interest. This makes it easier for people to buy a house. When people sell their house with this special loan, they get a lot more offers from buyers who want to buy their house.

If you want to take over someone else's mortgage, you need to prove to the bank that you can afford it. For VA loans, you need to be in the military. For FHA loans, you need a good credit score and meet other money requirements.

Another problem with getting an assumable mortgage is when the amount of money left on the mortgage is not enough to cover the price the seller is asking for the house. If you don't have enough money to pay the difference as a down payment, you will need to get another loan.

If you need more money to pay for something you want to buy, Roam can help you borrow money from a bank at a low interest rate. The interest rate might not be as low as the rate on a special type of loan called an assumable mortgage, but Roam says that the overall interest rate they offer is probably better than what most banks offer right now.

Forbes Advisor said that it's not easy to find mortgages with a low interest rate of 2%, but most of the mortgages listed at Roam have rates of 5% or lower. Sometimes, the interest rate might be a little higher than 5%, but it will still be lower than the rates you see for a 30-year loan right now.