PHILADELPHIA, Jan. 11, 2018 /PRNewswire/ -- (NASDAQ: RDFN)
— Redfin Mortgage, LLC is now offering loans to homebuyers in
Pennsylvania, announced Redfin
Corporation (www.redfin.com), the next-generation real estate
brokerage. 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, in which 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 the 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.
"The Redfin Mortgage 30-day closing guarantee gives homebuyers
an edge in the current real estate market driven by low inventory
and strong competition," 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 pre-approval letter 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.
With this announcement, Redfin Mortgage now serves homebuyers in
Texas, Illinois, Pennsylvania and the District of Columbia, and the company plans to
launch in additional states in the coming months.
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.
For more information about Redfin Mortgage and current rates,
visit www.redfin.com/mortgage.
About Redfin
Redfin (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 original content with
multimedia:http://www.prnewswire.com/news-releases/redfin-mortgage-launches-in-pennsylvania-300581650.html
SOURCE Redfin