(NASDAQ-NMS: 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
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
“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
Redfin Mortgage also offers:
Low Rates: Because Redfin Mortgage uses technology to
streamline the lending process, it can pass along its savings to its
No Lender Fees: Redfin Mortgage does not charge any lender
fees, so customers can rest assured there will be no surprises on
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
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