HomeLight partners with more than 10,000 loan officers and 28,000 real estate agents to provide its Buy Before You Sell service in 46 states and Washington, DC, excluding Alaska, Massachusetts, New York and Rhode Island.
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Armed with $20 million in new capital funding, real estate brokerage and lending technology platform HomeLight has expanded its flagship “buy before you sell” product to all but four U.S. states, it announced on Monday.
The latest funding round, described as an extension of the Series D, was led by Zeev Ventures, which also led HomeLight’s 2022 Series D. Other participants included Stereo Capital and Menlo Ventures.
Drew Uher
“We are deeply focused on building tools and technology that solve the toughest problems lenders face today when closing deals,” said Drew Uher, HomeLight founder and CEO. statement“So far the response to Buy Before You Sell has far exceeded our expectations and we’re excited to deliver great value to both our lending and agent partners and their customers.”
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Uher, a 2023 Best of Proptech Inman Award winner, launched HomeLight as an agent matching site in 2012 with backing from investors including Google Ventures, Crosslink Capital and Innovation Endeavors.
HomeRight entered mortgage lending in 2019 by acquiring digital mortgage company Eve, but has since exited the business in favor of partnerships. Mortgage Lenders and Real Estate Agent Provides power buyer and cash offer services.
” [mortgage lending]”By having the agent originate the mortgage with the lender of their choice, it eliminates any friction between the agent and the lender,” Uhaa said at Inman Real Estate Connect in Las Vegas on Aug. 1. “You can actually use the lender as a channel.”
HomeRight acquired cash offer provider Accept.inc in its 2022 Series D. The company claimed at the time that the deal made it the largest “agent-centric” cash offer provider in the United States.
HomeLight currently says it works with more than 10,000 loan officers and 28,000 real estate agents to provide “buy before you sell” services in 46 states and Washington, D.C., except Alaska, Massachusetts, New York and Rhode Island.
The 40 lenders currently offering HomeLight’s Buy Before You Sell product include wholesale mortgage lenders. Loan Store and retail lenders Luminate MortgageA subsidiary of Luminate Bank.
Luminate Home Loans, based in Minneapolis, NEO Home Loanemploys or sponsors 456 mortgage loan officers working in 67 branch locations across the United States. record It is governed by a national multi-state licensing system.
Lisa Shapiro
“Buy Before You Sell helped us achieve our buyers’ goal by submitting a no-condition offer and drawing down equity now as a down payment at closing, so they only have to move in once and for all, without paying rent along the way,” said Senior Mortgage Advisor at NEO Home Loans. Lisa Shapiro In a statement, they said: “It was a very smooth process. Other programs have had high costs or poor communication. With HomeLight, everyone was very thoughtful, efficient and communicative.”
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