Redfin Mortgage in Texas now is offering loans to homebuyers in Michigan, Massachusetts, and Wisconsin. The company is a subsidiary of Redfin, a tech-powered residential real estate company, and is now available in 15 states and Washington, D.C.
“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,” says Jason Bateman, head of Redfin Mortgage.
Buyers can fill out an online application and be pre-approved for a loan in 90 minutes or less. For these buyers, Redfin Mortgage offers a 30-day closing guarantee. For buyers who undergo a fully underwritten pre-approval process, which usually has a one-business-day turnaround time, Redfin Mortgage offers a 25-day closing guarantee. With this guarantee, if Redfin Mortgage can’t fund the mortgage by the timeline promised, it gives the homebuyer a $1,000 credit toward closing costs.
“The Redfin Mortgage closing guarantee gives homebuyers an edge if they’re bidding on a home that has multiple offers,” says 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 that offers the same capability.