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Introducing Opendoor Home Loans

Reading Time — 3 minutes

August 29, 2019

By Nadia Aziz

Reading Time — 3 minutes

August 29, 2019

There is nothing more exciting or satisfying in life than finding the home of your dreams, a place where you might raise a young family or start a new chapter out on your own. Unfortunately, finding that home is just half the battle in moving. Navigating the complex world of mortgages, interest rates and financing fees is where people often struggle. That’s why we want to make financing just as simple and frictionless as we’ve made finding and selling a home. Today, we couldn’t be more excited to announce Opendoor Home Loans.

Financing is one of the most complicated and intimidating parts of a home purchase. It typically takes 45 days for buyers to finance and close on a new home. That’s 45 days of uncertainty, anxiety and stress that we can cut in half with Opendoor Home Loans. In the last 10 months, we’ve built a mortgage business from the ground up that combines savings, convenience and certainty into a simpler, more transparent process for buyers. It takes us one step closer to providing an end-to-end experience where you can buy, sell or trade-in a home in just a few clicks.

To build Opendoor Home Loans, we started with what we’ve learned from buyers. Having helped over 50,000 customers buy or sell with Opendoor and hosted over 1 million on demand self-tours of Opendoor homes, we know our customers value flexibility, simplicity and speed. We’ve taken those same principles and applied it to the home loan process.

In minutes, buyers can discover their purchasing power and take the first steps toward financing their dream home. Home buyers in Texas and Arizona, whether they’re purchasing a home through our buying service or any home on the market, are already prequalifying for a mortgage with Opendoor Home Loans in the Opendoor app. Over the coming months, we’ll be expanding to serve buyers in other Opendoor markets.

By integrating Opendoor Home Loans into our buying experience, Opendoor can provide savings and certainty to buyers in a truly unique way.

  • Savings from start to finish. We offer competitive interest rates, no lender fees, and for a limited time, up to $1,000 towards buyer closing costs.

  • Guaranteed on-time close. We close loans on the scheduled closing date, or we’ll credit the buyer $100 per day for every day delayed.

  • One-on-one support. Borrowers will be paired with a dedicated mortgage consultant who will provide guidance, updates and support at every step.

We’ve been testing Opendoor Home Loans with home buyers across Texas and are excited to see the early feedback.

“Opendoor Home Loans was great to work with. My purchase was on a very tight deadline and my own work schedule was extremely busy at the time. Opendoor Home Loans worked around my schedule and was still able to get my deal closed with plenty of time to spare. I highly recommend them for their customer service, professionalism and transparency. Plus they beat the next lowest rate by half a point.” – Jason W., San Antonio, TX

Moving is stressful and comes with an ever-expanding list of things to do. We’re making it our job to streamline the entire process while keeping you in control. Help sell your home? Check. Help find and tour your dream home? Check. Submit an offer for and finance your next home purchase? Check and check. We look forward to helping even more customers complete their move!

Nadia Aziz is Head of Opendoor Home Loans.

Affiliation Disclosure: Please be advised that Opendoor Home Loans is a wholly-owned subsidiary of Opendoor. Because of this relationship, transactions with Opendoor Home Loans may provide Opendoor a financial or other benefit. Customers are not required to transact with Opendoor Home Loans as a condition of working with Opendoor.

Further reading

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