Press Release

Redfin Mortgage Expands to New Jersey and South Carolina

January 23, 2020
Tech-powered lender offers fully underwritten pre-approvals and 25 day closing guarantee

SEATTLE, Jan. 23, 2020 /PRNewswire/ -- (NASDAQ: RDFN) -- Redfin Mortgage, LLC is now offering loans to homebuyers in New Jersey and South Carolina. Redfin Mortgage is a subsidiary of Redfin (www.redfin.com), the tech-powered real estate brokerage. Redfin Mortgage now offers fixed- and adjustable-rate conforming mortgages as well as jumbo loans in 17 states and the District of Columbia. Built on Redfin's technology platform and customer-centric model, Redfin Mortgage charges no lender fees and offers competitive rates, fast pre-approvals and on-time closings.

Redfin Logo (PRNewsfoto/Redfin)

"We are redesigning the lending process to be fast, easy and intuitive for our customers, combining technology with personal service to streamline the entire experience from pre-approval to closing," said Jason Bateman, head of Redfin Mortgage.

Buyers who are just getting started can fill out an online application and can get pre-approved for a loan in 90 minutes or less. For these buyers, Redfin Mortgage offers a 30-day closing guarantee. For buyers that undergo a fully underwritten pre-approval process (usually one business day turnaround time), Redfin Mortgage offers an even better 25-day closing guarantee. With the closing guarantee, if Redfin Mortgage can't fund the mortgage by the timeline promised, it will give the homebuyer a $1,000 credit towards closing costs, subject to terms and conditions.

"The Redfin Mortgage closing guarantee gives homebuyers an edge if they're bidding on a home that has multiple offers," said Bateman. "By earning a seller's confidence that the sale will close on time, offers from buyers with a Redfin Mortgage pre-approval letter stand out from the crowd."

Redfin Mortgage is built to seamlessly integrate with Redfin's home-buying service, should the homebuyer elect to work with a Redfin agent. When the homebuyer, lender and agent work on the same technology platform, everyone stays informed at every step in the process, resulting in a smoother closing. Redfin real estate agents are not compensated for recommending Redfin Mortgage and encourage customers to work with the lender that offers the best service and value. For more information on Redfin's affiliation with Redfin Mortgage, visit www.redfin.com/afba.

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

About Redfin
Redfin (www.redfin.com) is a technology-powered real estate brokerage, 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 90 major metro areas across the U.S. and Canada. The company has helped customers buy or sell homes worth more than $85 billion.

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