Redfin Mortgage is on the move again.
The company just announced that its mortgage lending arm is setting up shop in North Carolina as it continues its national foray into the national mortgage lending landscape.
North Carolina is the eighth state Redfin has launched its since it started offering the mortgages last year. This is the second Southeastern market Redfin has expanded into recently. In June, Redfin Mortgage started doing business in Georgia.
Redfin Mortgage is currently available in Texas, Illinois, Washington, D.C., Pennsylvania, Virginia and Minnesota. Each of the markets has access to Redfin’s fixed-rate and adjustable-rate conforming mortgages, as well as jumbo loans and fully underwritten pre-approvals.
Redfin is hoping its 30-day closing guarantee and pre-approval strategy will give it a foothold in the mortgage lending space as it fights for market share in a low-volume period for the mortgage industry.
"The Redfin Mortgage closing guarantee gives homebuyers an edge in the current real estate market driven by low inventory and strong competition," Jason Bateman, head of Redfin Mortgage, said in a statement.
"By earning the seller's confidence that the sale will close on time, offers from buyers with a Redfin Mortgage pre-approval letter will stand out from the crowd in a bidding war."