Orchard, a New York City-founded real estate technology company, announced Wednesday it’s launching a mortgage division to integrate into its existing product offering suite for customers both buying and selling a home.

Court Cunningham | Photo credit: Orchard

“At Orchard, we have a relentless focus on customer delight,” Court Cunningham, the CEO and co-founder of Orchard said, in a statement. “We’ve heard repeatedly from customers that they loved their buying experience with Orchard and only wish we could’ve helped them with their mortgage as well.”

“After piloting Orchard Home Loans in Texas, we’re thrilled to now offer all of our customers the option to simplify their experience, and secure their dream home, quickly and easily,” he said.

Orchard aims to serve dual trackers – consumers buying and selling a home simultaneously. The company operates in essentially three phases: a modern search platform, enabling customers to buy before they sell with a guarantee and an all-digital close. Cunningham estimates these dual-track customers represent roughly two-thirds of the marketplace.

Now, in addition to the existing services, Orchard customers can choose a home loan that’s integrated into the existing platform, in what the company boasts is just a few clicks.

“Real estate closings have changed little over the last century and have traditionally required the consumer to coordinate a complex closing across multiple fragmented service providers,” Cunningham said. “Orchard is bringing the transaction into the modern era, by giving consumers the choice of an integrated, all-digital closing.”

The company first piloted the offering in its Texas markets and found that 50 percent of customers who bought a home through Orchard opted to use the company’s home loans platform for the purchase. After the initial pilot, the home loans platform is now live in Colorado and Georgia as well, all Orchard markets.

The platform gives consumers multiple rate options and outlines all the costs involved. The company says the rates will be competitive and the terms of the loan will be simple with no excess paperwork, bots or “banker lingo.”

Orchard Home Loans joins Orchard Title, the company’s title and escrow company.

Email Patrick Kearns

mortgages | technology
Show Comments Hide Comments

Comments

Sign up for Inman’s Morning Headlines
What you need to know to start your day with all the latest industry developments
By submitting your email address, you agree to receive marketing emails from Inman.
Success!
Thank you for subscribing to Morning Headlines.
Back to top
×
Log in
If you created your account with Google or Facebook
Don't have an account?
Forgot your password?
No Problem

Simply enter the email address you used to create your account and click "Reset Password". You will receive additional instructions via email.

Forgot your username? If so please contact customer support at (510) 658-9252

Password Reset Confirmation

Password Reset Instructions have been sent to

Subscribe to The Weekender
Get the week's leading headlines delivered straight to your inbox.
Top headlines from around the real estate industry. Breaking news as it happens.
15 stories covering tech, special reports, video and opinion.
Unique features from hacker profiles to portal watch and video interviews.
Unique features from hacker profiles to portal watch and video interviews.
It looks like you’re already a Select Member!
To subscribe to exclusive newsletters, visit your email preferences in the account settings.
Up-to-the-minute news and interviews in your inbox, ticket discounts for Inman events and more
1-Step CheckoutPay with a credit card
By continuing, you agree to Inman’s Terms of Use and Privacy Policy.

You will be charged . Your subscription will automatically renew for on . For more details on our payment terms and how to cancel, click here.

Interested in a group subscription?
Finish setting up your subscription