Press Release

Redfin Mortgage Expands to Florida, Maryland and Tennessee

April 30, 2019
Tech-powered lender offers digital closings, fully underwritten pre-approvals and 25 day closing guarantee

DALLAS, April 30, 2019 /PRNewswire/ -- (NASDAQ: RDFN) — Redfin Mortgage, LLC is now offering loans to homebuyers in Florida, Maryland and Tennessee. Redfin Mortgage is a subsidiary of Redfin (www.redfin.com), the tech-powered residential real estate company. 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 launched in Florida last week and has been providing loans to homebuyers in Maryland and Tennessee since January 2019 and November 2018, respectively.

Redfin Logo (PRNewsfoto/Redfin)

Building on Redfin's technology platform and customer-centric model, 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. Redfin Mortgage offers competitive rates and charges no lender fees, and its mortgage advisers are rewarded based on service, not just sales. 

Homebuyers in Florida, Maryland and Tennessee can now take advantage of Redfin Mortgage's fully-digital home closings and sign their loan documents from any device with a camera and high-speed internet connection. Redfin Mortgage is one of the first lenders to be able to offer digital closings along with Title Forward, Redfin's title and settlement company.

"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 said. "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. 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."

With the closing guarantee, if Redfin Mortgage can't fund the mortgage in 25 or 30 days (as applicable), it will give the homebuyer a $1,000 credit towards closing costs.*

"When closing day arrives, you can sign your documents electronically from anywhere, without having to take time off work just to go to a settlement office and spend hours signing paper documents," Bateman said.

Redfin Mortgage is built to seamlessly integrate with Redfin's home-buying service and Title Forward, should the homebuyer elect to use these services. When the homebuyer, lender, agent and title company are all working on the same technology platform, everyone stays informed, which leads to a smoother closing. Redfin real estate agents are not compensated for recommending Redfin Mortgage or Title Forward and encourage customers to work with the lender and title company that offers the best service and value.

Since its launch in January 2017, Redfin Mortgage has expanded to serve homebuyers in 12 states and the District of Columbia. The company plans to launch in additional states in the coming months. Title Forward serves 12 states and the District of Columbia.

State

Redfin Mortgage

Title Forward

Digital Closings

Colorado

Florida

Georgia


Illinois

Maryland

Minnesota

New Jersey



North Carolina



Ohio



Pennsylvania

Tennessee

Texas

Virginia

Washington, D.C.

Wisconsin


For more information about Redfin Mortgage and to submit an application for a free, no obligation pre-approval, visit https://www.redfinmortgage.com.

*The Redfin Mortgage closing guarantee is subject to terms and conditions.

About Redfin
Redfin (www.redfin.com) is a technology-powered residential real estate company, combining its own full-service agents with modern technology to redefine real estate in the consumer's favor. Founded by software engineers, Redfin has the country's #1 brokerage website and offers a host of online tools to consumers, including the Redfin Estimate, the automated home-value estimate with the industry's lowest published error rate for listed homes. Homebuyers and sellers enjoy a full-service, technology-powered experience from Redfin real estate agents, while saving thousands in commissions. Redfin serves more than 85 major metro areas across the U.S. and Canada. The company has closed more than $85 billion in home sales.

For more information or to contact a local Redfin real estate agent, visit www.redfin.com. To learn about housing market trends and download data, visit the Redfin Data Center. To be added to Redfin's press release distribution list, subscribe here. To view Redfin's press center, click here.

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SOURCE Redfin

Redfin Journalist Services: Alina Ptaszynski, 206-588-6863, press@redfin.com