DALLAS, Nov. 22, 2019 /PRNewswire/ -- (NASDAQ: RDFN) — Redfin Mortgage, LLC is now offering loans to homebuyers in Massachusetts, Michigan and Wisconsin. Redfin Mortgage is a subsidiary of Redfin (www.redfin.com), the tech-powered residential real estate company. Redfin Mortgage offers fixed- and adjustable-rate conforming mortgages as well as jumbo loans in 15 states and the District of Columbia.
Built on Redfin's technology platform and customer-centric model, Redfin Mortgage offers competitive rates and charges no lender fees, and its mortgage advisers are rewarded based on service, not just sales.
"We are redesigning the lending process to be fast, easy and intuitive for our customers, combining technology with personal service to streamline the entire experience from pre-approval to closing," said Jason Bateman, head of Redfin Mortgage.
Buyers who are just getting started can fill out an online application and can get pre-approved for a loan in 90 minutes or less. For these buyers, Redfin Mortgage offers a 30-day closing guarantee. For buyers that undergo a fully underwritten pre-approval process (usually one business day turnaround time), Redfin Mortgage offers an even better 25-day closing guarantee. With the closing guarantee, if Redfin Mortgage can't fund the mortgage by the timeline promised, it will give the homebuyer a $1,000 credit towards closing costs, subject to terms and conditions.
"The Redfin Mortgage closing guarantee gives homebuyers an edge if they're bidding on a home that has multiple offers," said Bateman. "By earning a seller's confidence that the sale will close on time, offers from buyers with a Redfin Mortgage pre-approval letter stand out from the crowd."
In many states Redfin Mortgage offers fully-digital home closings or e-closings, provided the customer selects a title company who also has that capability. Redfin Mortgage is currently offering a $1,000 closing credit to homebuyers who sign up to e-close in November. The promotion is available to buyers in e-close eligible states who lock in their interest rate before the end of November for loans over $200,000 and choose to work with Title Forward, Redfin's title company. Title Forward is currently available in 12 states and the District of Columbia (CO, FL, GA, IL, MD, MI, NJ, PA, TN, TX, VA, DC, WI).
Redfin Mortgage is built to seamlessly integrate with Redfin's home-buying service, should the homebuyer elect to work with a Redfin agent. When the homebuyer, lender and agent work on the same technology platform, everyone stays informed at every step in the process, resulting in a smoother closing. Redfin real estate agents are not compensated for recommending Redfin Mortgage and encourage customers to work with the lender that offers the best service and value. For more information on Redfin's affiliation with Redfin Mortgage, visit www.redfin.com/afba.
For more information about Redfin Mortgage and to submit an application for a free, no obligation pre-approval, visit https://www.redfinmortgage.com.
Redfin (www.redfin.com) is a technology-powered real estate brokerage, combining its own full-service agents with modern technology to redefine real estate in the consumer's favor. Founded by software engineers, Redfin has the country's #1 brokerage website and offers a host of online tools to consumers, including the Redfin Estimate, the automated home-value estimate with the industry's lowest published error rate for listed homes. Homebuyers and sellers enjoy a full-service, technology-powered experience from Redfin real estate agents, while saving thousands in commissions. Redfin serves more than 90 major metro areas across the U.S. and Canada. The company has helped customers buy or sell homes worth more than $85 billion.
For more information or to contact a local Redfin real estate agent, visit www.redfin.com. To learn about housing market trends and download data, visit the Redfin Data Center. To be added to Redfin's press release distribution list, subscribe here. To view Redfin's press center, click here.