Redfin Mortgage Begins Lending in Illinois

Oct 17, 2017

Redfin Mortgage, a subsidiary of the real estate brokerage Redfin has expanded operations into a second state with the establishment of lending operations in Illinois.

Redfin Mortgage began in January 2017 by offering home loans to Redfin customers in Texas. The company is planning to expand into Virginia before the end of the year and is seeking to become a presence in additional states during 2018. According to the company, its focus are homebuyers who with a Redfin agent. Redfin also operates Title Forward, a title and settlement company.

“In the current competitive real estate market, a fully underwritten pre-approval gives the homebuyer an edge by earning the seller’s confidence that the loan will be approved quickly and the sale will close on time,” said Jason Bateman, head of Redfin Mortgage. “In a bidding war, a buyer with a fully underwritten pre-approval can consider waiving the financing contingency to make their offer nearly as appealing to a seller as an all-cash offer.”

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Phil Hall

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Oct 17, 2017

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