Opendoor's 'ultimate mortgage' offers 1% off purchase

Offering could help Opendoor lower holding costs, generate new revenue
  • Opendoor is offering financing to buyers who purchase its homes in Texas and Arizona.
  • Service claims to save users 1 percent of the purchase price off closing costs of an Opendoor home.

To compete on price with real estate agents, high-tech investors known as “iBuyers” will need to figure out ways to sell their homes very fast and for top dollar. Leading iBuyer Opendoor, which makes quick offers on homes and can close in days, has taken another step in this direction.