In a company first, Detroit’s Rocket Cos. has announced a partnership with a financial empowerment app based in California to create a fast, simplified refinance experience for homeowners.
Rocket Mortgage, which offers a fully digital mortgage experience, has been integrated into the Mint app to create the offering.
As part of the integration, Mint users are able to pre-fill information such as current mortgage information that they’ve added to their Mint user profiles. They can then seamlessly search, apply for, and lock in mortgage refinance rates with Rocket Mortgage in as few as eight minutes.
“Mint users are financially savvy and keenly aware of their finances, with many using the app to make smart decisions for themselves and their families,” says Tim Birkmeier, chief revenue officer of Rocket Mortgage. “These are the consumers who will realize they could free up much needed monthly cash flow with a refinance to today’s low mortgage rates.”
This is the first time the Rocket Mortgage experience has been directly integrated into a personal finance platform.
“Across the country, Americans are struggling with their finances as many face difficult economic times,” says Varun Krishna, senior vice president and head of consumer finance at Intuit, which offers Mint. “As interest rates are near an all-time low, now is an ideal time for many to consider refinancing their mortgages and save thousands.
“For too long, the refinance process has been an annoyingly tedious and overwhelming experience for all of us to find the right lender and loan for our situation. We’re excited to help simplify the process for Mint users with this integration of Rocket Mortgage and give our customers some peace of mind during this already stressful time.”
The new feature is available exclusively to Mint users who are seeking to refinance their mortgages. A purchase mortgage experience is expected in the near future.