Bills.com, a consumer-facing website designed to “give consumers confidence in making money decisions,” is partnering with ClosingCorp, a provider of residential real estate closing cost data and technology for the mortgage and real estate services industries, to provide closing cost data to its users.
Under the agreement, ClosingCorp will provide detailed closing cost data and a consumer-facing, closing-cost calculator for Bills.com users.
According to a release from the companies, more than 6 million consumers visit Bills.com’s online properties to find information on mortgages and other financial products, compare interest rates and terms, and receive offers from leading lenders on a monthly basis.
And as a as a result of this agreement, Bills.com users will now be able to input a minimal amount of information and see a very “tight” estimate of the amount of fees and costs — such as title and transfer taxes — that might be required to close their loan.
The companies expect to that this will help provide transparency into the true costs of mortgage origination.
The closing cost data will be available on a county-specific level.
Using the closing-cost calculator, consumers can enter a state, county, transaction type, purchase price and loan amount, and then receive customized closing cost calculations.
These costs can include appraisals, title and settlement, inspection services, transfer tax, recording fees and more.
“For the past nine years, Bills.com has provided consumers with unbiased information from professionals and the ability to view customized loan offers, based on qualification criteria and programs from some of the best lenders in the country,” said Ethan Ewing, president of Bills.com.
“Our deal with ClosingCorp now allows us to supply our customers with more complete details on the costs and fees associated with purchasing and refinancing a home, so they can go into the biggest transaction of their life with their eyes open,” Ewing added.
“Bills.com offers broad access to consumers who are seeking insights and information to make informed financial decisions,” Brian Benson, CEO of ClosingCorp, said. “ClosingCorp tools and data can give these consumers a more complete picture of the costs of buying a house.”