Tech-powered real estate brokerage Redfin Mortgage
expanded to Arizona, Delaware and New Hampshire. With the COVID-19 pandemic forcing prospective borrowers to look for digital mortgage solutions, Redfin's expansion gives folks in these states another option.
The company offers fixed and adjustable-rate conforming mortgages in 20 states and the District of Columbia. According to Redfin, new buyers can usually get pre-approved for a loan in 90 minutes of less and the company also guarantees 30-day closings or the buyer will receive a $1,000 credit towards closing costs.
"With interest rates at historic lows, many homebuyers are competing over a limited number of homes for sale," said Jason Bateman, head of Redfin Mortgage. "Sellers want to feel confident their sale will close on time, which is why the Redfin Mortgage closing guarantee can give homebuyers an edge in a bidding war."
Redfin's fully digital home closings are not yet available in Delaware.