Housing Headlines: Curbio and Redfin Mortgage

Technology

Housing Headlines takes a look at the latest news in housing, real estate, fintech and beyond; featuring new product updates, launches, expansions, integrations, announcements and more.

Redfin Mortgage has announced its expansion into New Jersey and South Carolina.

Homebuyers in those two states can now fill out an online application and can get pre-approved for a loan in 90 minutes or less.

“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.

For these buyers, Redfin Mortgage offers a 30-day closing guarantee. For buyers that undergo a fully underwritten pre-approval process in about a day, Redfin Mortgage offers a 25-day closing guarantee.

If Redfin Mortgage can’t fund the mortgage by the timeline promised, it will give the homebuyer a $1,000 credit towards their closing costs, according to Redfin.

“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.”

Tech-enabled renovation company Curbio has expanded its reach to Minneapolis-St. Paul and Seattle this week.

The company refers to itself as a renovation partner in the remodeling mix. By using software to essentially flip a house, Curbio aims to ensure the renovation process is quick and cost-effective. Clients don’t have to pay the service until the sale on their house closes.

The addition of Minneapolis-St. Paul follows Curbio’s most recent expansion in Boston last December. The company says the new market is even more popular among the nation’s largest home-buying demographic: Millennials.

“Millennial buyers are flocking to Minneapolis-St. Paul in search of updated, move-in ready homes,” said Curbio’s Vice Presidnet of Marketing Rikki Rogers. “We’re excited to introduce our turnkey process to help buyers, sellers and agents enjoy a more seamless experience in this booming market.”

Curbio also says that Seattle is another big hub for Millennials, and could see a hot real estate market this year.

“Renovated homes sell more quickly and generate greater profit, but homeowners often opt out due to the significant time and financial risk involved,” Rogers said. “Agents are similarly hesitant to suggest renovations that will delay time-to-market and require their oversight. With our data-driven, risk-free renovation process, we’re helping Seattle sellers and agents rethink this typically stressful process and maximize their profit potential in an increasingly competitive market.”
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