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Redfin launches mortgage lending in Florida, Maryland, and Tennessee

Expansion of Redfin Mortgage continues

Homebuyers in Florida, Maryland, and Tennessee can now turn to Redfin for their mortgage, as the online real estate brokerage announced this week that its mortgage arm, Redfin Mortgage, is now available in those three states.

Redfin launched its mortgage lending operations in January 2017 and has consistently expanded its mortgage business since then.

Redfin Mortgage offers fixed- and adjustable-rate mortgages and jumbo loans for high-priced homes Georgia, Illinois, Minnesota, North Carolina, Ohio, Pennsylvania, Texas, Virginia, Washington, D.C. and, Colorado.

And now, Florida, Maryland, and Tennessee are being added to that list.

According to the company, Redfin Mortgage launched in Florida earlier this month, while Redfin has been lending to homebuyers in Maryland since January 2019 and buyers in Tennessee since November 2018.

The company touts its technology platform and “customer-centric model” as reasons why borrowers should choose Redfin as their lender.

“Redfin Mortgage aims to be the fastest and easiest way for homebuyers to receive a quote, get pre-approved for a loan and finance their home purchase,” the company said. “Redfin Mortgage offers competitive rates and charges no lender fees, and its mortgage advisers are rewarded based on service, not just sales.”

Beyond that, Redfin said that borrowers in Florida, Maryland, and Tennessee can use Redfin Mortgage’s fully-digital mortgage closings and sign their loan documents from any device with a camera and high-speed internet connection.

The company’s fully digital closing is conducted through Redfin’s title insurance and settlement services provider, Title Forward.

“When we decided to launch a mortgage company in 2017, we opted to build it from the ground up so we could redesign everything to better serve the needs of the customer from the preapproval to the closing,” said Jason Bateman, head of Redfin Mortgage.

“If you’re just getting started, Redfin Mortgage can help you figure out what you can afford. Fill out a quick online application and we can typically pre-approve you for a loan in 90 minutes or less, and provide a 30 day closing guarantee,” Bateman added.

“When you find the home you want to buy, Redfin Mortgage can help get your offer accepted by earning the seller’s confidence that the deal will close on time,” Bateman continued. “For borrowers that undergo a fully underwritten pre-approval process (usually one business day turnaround time), we offer an even better 25-day closing guarantee, and we can often complete loans much faster.”

According to Bateman, Redfin Mortgage will give a homebuyer a $1,000 credit towards their closing costs if the company can’t close their loan in 25 days.

All in all, Redfin Mortgage is now available in 12 states, plus the District of Columbia, and the company plans to continue expanding its mortgage business throughout this year and beyond.

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