Intuit’s personal finance app Mint and Rocket Mortgage of Detroit’s Rocket Cos. have announced that users can now get approved for a home loan virtually through the app. Intuit is based in California.
Homebuyers can now go from application to an accurate rate confirmation and an approval in as few as eight minutes, instead of the usual days-long process. This new function is meant to simplify what is typically a time-consuming and confusing process, and it also aims to give homebuyers more support in an increasingly competitive housing market, says Varun Krishna, senior vice president and head of Mint for Intuit Consumer Group.
“The first-of-its-kind simplified digital mortgage experience inside the Mint app is a game changer for homebuyers,” says Krishna. “Our hope is it empowers more people to enter the market with certainty and purchase the home of their dreams.”
The expanded partnership builds on the companies’ shared goal of empowering users to understand their finances and feel confident in making financial decisions. This new feature in Mint follows the addition of a digital refinance experience that was added to the app in October.
Tim Birkmeier, chief revenue officer of Rocket Mortgage, says the Mint integration is the first place the mortgage application is being hosted outside of Rocket Mortgage’s website and app. The companies are hopeful that having the feature in Mint, where users can easily import information they have already added to their account, will streamline the process for applying and getting approved.
“With the massive response we have had from our refinance experience in Mint, we know the new experience for home purchases will help many buyers navigate the competitive spring buying season and for years to come.”
The app is available here for Apple and Android devices.
The Rock Family of Cos., which owns businesses such as Quicken Loans and Amrock, moved its headquarters to Detroit in 2010, now employing more than 19,000 full-time employees within Detroit’s urban core.