Redfin Mortgage Expands to Washington, D.C.
December 07 2017 - 7:48AM
Business Wire
Tech-powered lender offers 30-day closing
guarantee
(NASDAQ: RDFN) — Redfin Mortgage, LLC is now offering loans to
homebuyers in Washington, D.C., announced Redfin Corporation
(www.redfin.com), the next-generation real estate brokerage.
With this expansion, Redfin Mortgage now serves homebuyers in
Texas, Illinois and the District of Columbia, and the company plans
to launch in additional states in 2018. Redfin Mortgage offers
fixed and adjustable-rate conforming mortgages as well as jumbo
loans for higher-priced homes in every state where it operates.
Redfin Mortgage also offers a 30-day closing guarantee,
demonstrating its commitment to fast, on-time closings. If Redfin
Mortgage is unable to fund a mortgage in 30 days, it will give the
homebuyer a $1,000 credit toward closing costs, subject to terms
and conditions.
The closing guarantee is enabled by Redfin Mortgage’s fully
underwritten pre-approval letter, where all required borrower
information is underwritten by the company in advance of the
homebuyer finding a property to purchase. This gives the buyer and
the seller a stronger commitment that her loan will be approved as
long as the home has a clean title and appraises for the proposed
sale price or more. The buyer must also provide proof of homeowners
insurance to complete the transaction.
“In the competitive Washington, D.C. real estate market, Redfin
Mortgage’s 30-day closing guarantee gives homebuyers an edge in
getting their offers accepted,” said Jason Bateman, head of Redfin
Mortgage. “By earning the seller’s confidence that the sale will
close on time, offers from buyers with a Redfin Mortgage will stand
out from the crowd in a bidding war.”
Redfin Mortgage also offers:
- Low Rates: Because Redfin
Mortgage uses technology to streamline the lending process, it can
pass along its savings to its customers.
- No Lender Fees: Redfin Mortgage
does not charge any lender fees, so customers can rest assured
there will be no surprises on closing day.
- A Commitment to Customer
Service: Redfin Mortgage shares Redfin’s commitment to personal
service, with mortgage advisers who are rewarded based on service,
not just sales.
- A Smooth Closing: When your
lender and your real estate agent work on the same technology
platform, everyone stays informed, which leads to a smooth
closing.
Redfin Mortgage primarily serves homebuyers who choose to work
with a Redfin agent because Redfin Mortgage is built to seamlessly
integrate with Redfin’s home-buying service and, when desired,
Title Forward, Redfin’s title insurance and settlement company.
However, Redfin real estate agents are not compensated for
recommending Redfin Mortgage. Redfin agents will continue to
encourage homebuyers to work with the lender that offers the best
combination of service and rates.
Redfin Mortgage is working toward offering a totally digital
loan origination process, from loan application to closing, with
better service and lower fees. Building on Redfin’s existing
technology platform and customer-centric model, Redfin Mortgage
aims to be the fastest and most transparent way for homebuyers to
receive a quote, get pre-approved for a loan and finance their home
purchase.
More information about Redfin Mortgage and current rates is
available at: www.redfin.com/mortgage.
About RedfinRedfin (www.redfin.com) is the
next-generation 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 80 major
metro areas across the U.S. The company has closed more than $50
billion in home sales.
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.
View source
version on businesswire.com: http://www.businesswire.com/news/home/20171207005578/en/
Redfin Journalist Services:Alina Ptaszynski,
206-588-6863press@redfin.com
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