Redfin Mortgage hits 3 new states

With expansion into Florida, Maryland and Tennessee, the rapidly growing home lending arm is now live in 12 states

Redfin Mortgage, the home lending arm of the Seattle-based tech-focused real estate brokerage, has expanded into 12 states since its 2017 launch, most recently in Florida, Maryland and Tennessee, according to an announcement Tuesday.

Redfin Mortgage launched in Florida last week and in Maryland and Tennessee in January 2019 and November 2018, respectively, according to the announcement.

Jason Bateman,Head of Redfin Mortgage

Jason Bateman | Photo credit: Jason Bateman/LinkedIn

“If you’re just getting started, Redfin Mortgage can help you figure out what you can afford,” Jason Bateman, the head of Redfin Mortgage, said in a statement. “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.”

Redfin Mortgage offers a fully digital home closing process thanks to its integration with Title Forward, Redfin’s title and settlement company. Redfin Mortgage and Title Forward are both available in 12 states, but they don’t all overlap at this time.

The markets that Redfin Mortgage, Title Forward and Digital Closings are available in. | Credit: Redfin

“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 added.

Redfin also offers a closing guarantee for consumers. If its lender can’t fund the mortgage in 25 or 30 days, it will give homebuyers a $1,000 credit towards closing costs.

The expansion of the mortgage service comes as Redfin further attempts to offer consumers a full end-to-end experience and serve as the consumer’s one-stop shop for the entire transaction from viewing listings to closing on a home.

Redfin stated, in a release, that agents are not compensated for recommending Redfin Mortgage or Title Forward.

Email Patrick Kearns