Terms of Service

Welcome to Opendoor Home Loans LLC. Your use of this website, our apps, and our related services (collectively, "Services") is governed by these Terms of Service ("Terms"). Please review these Terms carefully: they contain important provisions that change your ability to bring a lawsuit against us, including warranty and liability disclaimers (Section 1.2), and a Dispute Resolution and Arbitration Provision (Section 1.10) in which both you and we give up our rights to bring a lawsuit in court or in class actions of any kind. You have the right to opt out of the arbitration agreement (see Section 1.10.9).

Please be sure to also review our Privacy Policy, which is incorporated and made a part of these Terms, along with any mortgage-specific privacy notices and disclosures we provide to you as required by law, including our GLBA Privacy Notice.

By using our Services, you agree to be bound by these Terms, forming a contractual relationship between you and Opendoor Home Loans LLC.

For purposes of these Terms, "Opendoor Home Loans LLC," "we," "us," or "our" refers to Opendoor Home Loans LLC, its affiliated companies, their predecessors, successors, and assigns, and all of the respective officers, directors, employees, and agents of any of these entities.

We may modify these Terms from time to time and will post the updated agreement on the Terms of Service page on this website (or another URL we designate). You will be deemed to have accepted these Terms as updated if you continue to use our Services after any updates are posted. However, if we materially change the Dispute Resolution and Arbitration Provision below in the future, that change may not apply to any litigation or arbitration between us that was commenced prior to the effective date of the change.

General Terms

1.1 Using Our Services

1.1.1 General Requirements

You agree to abide by all local, state, national, and international laws and regulations in your use of our Services.

Our Services are intended only for personal, non-commercial use by U.S. residents aged 18 years and over. If you do not meet these criteria, you must immediately discontinue use of our Services. We reserve the right to refuse to provide our Services to anyone at any time.

1.1.2 Registered Users

We reserve the right to restrict some of our Services to registered users. If you register an account with us, you must provide accurate, current, and complete account information that we request, and update this information as necessary to keep it accurate, current, and complete.

You may not sell, transfer, or assign your account to anyone else. You are responsible for maintaining the confidentiality of your account name and password, and for all activities that occur while logged in under your account. You agree to notify us immediately at mortgage-support@opendoor.com of any actual or suspected unauthorized use of your account.

1.1.3 Access

Opendoor Home Loans LLC grants to you limited permission to access and use our Services in accordance with these Terms. Any use of our Services not expressly permitted under these Terms is prohibited.

1.1.4 Copyrights, Trademarks, and Other Intellectual Property

The intellectual property rights in all content and materials available through our Services, including, but not limited to, text, images, audio, video, interfaces, information, data, and computer code, are the property of Opendoor Home Loans LLC or licensed to us by third-party providers (collectively, our "Content").

You are permitted to access our Content only through our Services and you may not copy, modify, sell, reproduce, distribute, republish, display, post, create derivative or collective works from, or transmit in any form our Content, in whole or in part, without our prior written consent, which may be subsequently revoked at our sole discretion. Nothing in these Terms grants you any license or right to use our Content except as expressly stated in these Terms.

1.1.5 Infringement (DMCA)

You agree that you will not use our Services in any manner that infringes the rights of any third party. If you are a copyright holder and believe your work has been used in our Services in a way that constitutes copyright infringement, please send a notice of infringement under the Digital Millennium Copyright Act ("DMCA") to:

Opendoor, c/o Legal Team
1295 W. Washington St, Ste 115
Tempe, AZ 85288
Phone: 888.352.7075
Email: dmca@opendoor.com

To find out what to include in the notice, click here to read the DMCA.

1.1.6 Other Restrictions

You agree that you will not use our Services to: (a) impersonate any person or entity or misrepresent your affiliation with any person or entity; (b) engage in spamming, flooding, harvesting of email addresses or other personal information, spidering, screen scraping, database scraping, or any other activity with the purpose of obtaining lists of users or any other information; (c) attempt to decipher, decompile, disassemble, or reverse engineer any of the technology used to operate our Services; (d) violate any applicable local, state, national or international law; (e) send chain letters or pyramid schemes via our Services; or (f) attempt to gain unauthorized access to other computer systems through our Services.

You agree that you will not use our Services in any manner that could damage, disable, overburden, or impair our Services, or interfere with any other party's use and enjoyment of our Services.

1.1.7 Submissions

If you submit to us or post through our Services any testimonial, comment, review, suggestion, images, content, data, or any work of authorship (collectively, a "submission") including, without limitation, submissions about any of our products or services, such submission may be used by us in any manner. Please do not submit or send any submission to us that you believe contains confidential or proprietary information. No submission sent to us will be considered or treated as confidential information. We do not pre-screen submissions and we have no obligation to read or respond to any particular submission submitted or sent to us.

By submitting or sending a submission to us, you: (a) represent and warrant that the submission is original to you, that no other party has any rights to it, and that any moral rights in it have been waived, and (b) grant us a royalty-free, unrestricted, worldwide, perpetual, irrevocable, non-exclusive, and fully transferable, assignable, and sublicensable right and license to use, reproduce, publish, distribute, display, translate, summarize, modify, and adapt such submission (in whole or part), and/or to incorporate it in other works in any form, media, or technology now known or later developed, in our sole discretion, with or without your name.

1.1.8 Identity Verification and Fraud Prevention Data

In connection with providing mortgage-related Services (including prequalification, application intake, underwriting support, and account security), you authorize us and our service providers to collect, use, and share information for lawful purposes including identity verification and fraud prevention. This may include information you provide directly, information from third parties, and device and usage signals, consistent with our Privacy Policy and applicable law.

1.2 Disclaimers

1.2.1 No Warranty

IMPORTANT!

To the fullest extent permitted by law, our Services, our Content, or other content available through our Services are provided "as is" and "as available," with all faults and without warranty of any kind. Opendoor Home Loans LLC, on behalf of itself and its service providers, disclaims all warranties of any kind, whether express or implied, relating to our Services, our Content, or other content available through our Services including the implied warranties of merchantability, fitness for a particular purpose, quiet enjoyment, quality, accuracy, title and non-infringement, and any warranty arising out of course of dealing, usage, or trade.

1.2.2 Assumption of Risk

IMPORTANT!

You use our Services, our Content, or other content available through our Services, at your own discretion and risk. You assume all risk for any damage that may result from your use of our Services, our Content, or other content available through our Services. You are solely responsible for any damage to your property (including any computer system or mobile device used in connection with our Services), or the loss of data that may result from the use of our Services, our Content, or other content available through our Services.

1.2.3 Not a Legal or Professional Advisor

You acknowledge and agree that Opendoor Home Loans LLC is not engaged in rendering legal, tax, or other professional services. If legal, tax, or other professional assistance is required (for example, the review of agreements and forms made available to you through our Services), you should seek the services of a competent professional.

1.2.4 Not a Commitment to Lend; Informational Tools

Any calculators, scenarios, rate displays, educational materials, and other tools made available through the Services are for informational purposes only. They are not a commitment to lend, are not a guarantee of approval, and are subject to change. Any mortgage loan is subject to application, verification, underwriting approval, property acceptability, and satisfaction of all conditions.

1.3 Limitation of Liability

You agree that Opendoor Home Loans LLC is not liable to you or any other person or entity whatsoever for any loss, damage (whether actual, consequential, special, punitive, direct, or indirect), injury, claim, liability, or other cause of action based upon or resulting from the use or attempted use of our Services or our Content. This includes, but is not limited to, any claims or damages arising from failure of performance, error, omission, inaccuracy, interruption, deletion, defect, delay in operation, computer virus, system failure, theft, destruction, unauthorized access to or alteration of personal records, or the reliance upon or use of data, information, opinions, or other materials accessed through our Services. Additionally, you agree that Opendoor Home Loans LLC is not liable or responsible for any defamatory, offensive, illegal, or other conduct of third parties.

IMPORTANT! Notwithstanding any provision to the contrary, nothing in these Terms shall affect warranties or legal rights which are incapable of exclusion or restriction under applicable law, including but not limited to rights to damages.

1.4 Indemnification

You agree to indemnify, defend, and hold harmless Opendoor Home Loans LLC against all losses, expenses, damages, and costs, including reasonable attorneys' fees, arising out of or in any way related to (i) any violation or alleged violation by you of these Terms or any applicable law; (ii) your access, use, or misuse of our Services or our Content; and (iii) any infringement by you of the copyright or intellectual property rights of any third party. You must not settle any such claim or matter without the prior written consent of Opendoor Home Loans LLC. We reserve the right, at our own expense, to assume the exclusive defense and control of any claim subject to indemnification by you, and you further agree that you will cooperate fully in the defense of any such claims.

1.5 Governing Law

These Terms will be governed by the laws of the state of California, without regard to its provisions relating to conflict of laws, except for the Dispute Resolution and Arbitration Provision below, which is governed by federal law.

1.6 Enforceability

Our failure to enforce any of our rights or to act with respect to a breach by you or by others of these Terms does not constitute a waiver of any rights and will not limit our rights with respect to that breach or any subsequent breaches. No waiver by Opendoor Home Loans LLC of the provisions in these Terms will be of any force or effect unless made in writing and signed by a duly authorized officer of Opendoor Home Loans LLC.

Except as set forth in the Dispute Resolution and Arbitration Provision, if any provision of these Terms shall be unlawful, void, or for any reason unenforceable, then that provision shall be deemed severable from these Terms and shall not affect the validity and enforceability of any remaining provisions.

We may assign these Terms, or certain of our rights or obligations under these Terms, to any party at any time without notice to you. You may not assign your rights or obligations under these Terms, by operation of law or otherwise, without the prior written consent of Opendoor Home Loans LLC.

1.7 Consent to be Contacted; Notices

If you provide, or have provided, a telephone number to us under your name, you confirm that you are the authorized subscriber for the telephone number you have provided, and expressly agree that we may contact you at that number in order to provide you with informational and service messages, including via text message and by using automated telephone technology. Standard message and data rates may apply. You can opt-out of text messages by replying "STOP" to the sender (or following any other sent instructions for how to opt-out). We may record or monitor telephone calls for quality assurance.

If you provide, or have provided, an email or mail address to us, you agree that we may provide notices to you through such means. Unless otherwise stated in the notices, the notices will become effective immediately.

1.8 Electronic Records and Signatures; E-SIGN

When you use the Services in connection with mortgage products (including prequalification, application, disclosures, and closing-related communications), you agree that we may provide you with required disclosures, notices, statements, authorizations, and other information electronically, and that you may sign documents electronically, to the extent permitted by applicable law (including E-SIGN). Where required, we will obtain any legally-required consent(s) for electronic delivery and signature.

If you withdraw consent to receive records electronically, it may delay or prevent our ability to provide the Services.

1.9 Mortgage Application; Authorizations; No Commitment to Lend

1.9.1 Applications and Information You Provide

You may be able to apply for a mortgage directly through the Services. You agree that all information you submit through the Services will be true, accurate, current, and complete to the best of your knowledge, and you will promptly update it if it changes during the application process.

You understand and agree that: (a) any prequalification or preapproval indication is not a final loan approval and not a commitment to lend; (b) we may require additional information and documentation; and (c) final approval and loan terms depend on verification, underwriting, and all applicable conditions.

1.9.2 Credit Report and Consumer Report Authorization

When you request mortgage products, get prequalified, apply for credit, or otherwise initiate mortgage-related Services, you authorize us, our affiliates, our service providers, and any assignees or investors (as applicable and permitted by law) to obtain and use consumer reports and other information about you from consumer reporting agencies and other sources for purposes permitted by law, including to: (a) verify identity; (b) evaluate eligibility, creditworthiness, and pricing; (c) underwrite and process your application; (d) review and maintain your account; (e) service your loan (if applicable); (f) prevent fraud; and (g) comply with legal obligations.

We may obtain consumer reports at multiple times, including before closing and, as permitted by law, after closing (for example, for account review, servicing, or loss mitigation).

1.9.3 Verification of Income, Employment, Assets, and Other Data

You authorize us and our service providers to verify information you provide, including employment, income, assets, bank account information, tax information, occupancy, and other data, using third-party sources and verification services, consistent with applicable law.

1.9.4 Property-Related Information

You authorize us and our service providers to obtain property-related information as needed, which may include appraisals or valuations, flood determinations, title-related information, insurance information, and HOA-related information.

1.9.5 Rates; Rate Locks; Disclosures

Rates and pricing shown through the Services may change and are not guaranteed. Any rate lock (if offered) will be governed by the terms provided at the time you lock (including lock period, expiration, conditions, and any extension fees).

You understand that you may receive required disclosures at different times during the process, and that mortgage transactions are subject to federal and state laws and investor or program requirements.

1.9.6 Fees and Third-Party Services

You may be responsible for third-party fees (for example, appraisal, credit report, title, recording, and other vendor fees) as permitted by law and disclosed to you. Estimates are not guaranteed and may change based on circumstances.

Third-party services integrated into the Services may have their own terms and privacy practices; we do not control them.

1.10 Dispute Resolution and Arbitration Provision

1.10.1 Definitions

The term "Claim" means any dispute, controversy, or claim arising between you and Opendoor Home Loans LLC.

For purposes of this section 1.10, the term "Opendoor Home Loans LLC" and references to "we," "us," or "our," also apply to any third party that you bring a Claim against in connection with a Claim you bring against us.

1.10.2 Informal Negotiations

To expedite resolution and reduce the cost of a Claim, you and Opendoor Home Loans LLC agree to first attempt to negotiate any Claim against Opendoor Home Loans LLC (except those Claims expressly excluded below) informally for at least 30 days before initiating any arbitration or court proceeding. These informal negotiations will commence upon written notice. If necessary to preserve a Claim under any applicable statute of limitations, you or Opendoor Home Loans LLC may initiate arbitration while engaging in the informal negotiations.

1.10.3 Binding Arbitration and Class Action Waiver

Subject to sections 1.10.4 and 1.10.9, you and Opendoor Home Loans LLC agree that any Claim will be resolved solely by binding, individual arbitration and not in a class, representative, or consolidated action or proceeding. This section 1.10.3 is governed, in all respects, both procedurally and substantively, by the United States Federal Arbitration Act ("FAA"), 9 U.S.C. Section 1 et seq. You and Opendoor Home Loans LLC each waive the right to a trial by jury or to participate in a class action.

IMPORTANT! A Claim may only be brought in an individual capacity. Neither you nor Opendoor Home Loans LLC may serve as a plaintiff, class member, or participant in any purported class action, collective action, private attorney general action, or any other representative action.

Unless all parties to the arbitration consent in writing, no party to the arbitration may join, consolidate, or otherwise bring claims on behalf of two or more individuals or unrelated corporate entities in the same arbitration unless those persons are parties to a single transaction. An award in arbitration shall determine the rights and obligations of the named parties only, and only with respect to the claims in arbitration, and shall not (i) determine the rights, obligations, or interests of anyone other than a named party, or resolve any claim of anyone other than a named party; nor (ii) make an award for the benefit of, or against, anyone other than a named party. No administrator or arbitrator shall have the power or authority to waive, modify, or fail to enforce this section.

1.10.4 Claims Not Covered by this Dispute Resolution and Arbitration Provision

Disputes regarding the validity, scope, coverage, or enforceability of any part of this Dispute Resolution and Arbitration Provision or the arbitrability of any claim shall be determined by a court, not an arbitrator. However, disputes regarding the validity or enforceability of these Terms as a whole shall be determined by the arbitrator.

Individual actions in small claims court (or an equivalent court) by you or us are not subject to this Dispute Resolution and Arbitration Provision as long as they remain in that court; however, if the dispute is transferred, removed, or appealed to a different court, the dispute will be subject to arbitration according to these Terms.

To the extent a Claim arises from any purchase or sale agreement between you and Opendoor that has a dispute resolution provision, the dispute resolution provision in that purchase and sale agreement controls and applies to the Claim.

1.10.5 Arbitrator and Arbitration Rules

The arbitration will be conducted by the American Arbitration Association ("AAA") or JAMS. The appropriate AAA or JAMS rules shall apply, as determined by the arbitrator. These rules can be found at www.adr.org and www.jamsadr.com. In the event of any conflict or inconsistency between this Dispute Resolution and Arbitration Provision, on the one hand, and the administrator's rules or other provisions of these Terms, on the other hand, this Dispute Resolution and Arbitration Provision will govern.

1.10.6 Arbitration Costs

Each party shall pay their own costs of arbitration as specified by the administrator's rules. If you cannot afford your arbitration costs, you may apply for a waiver under the relevant rules. We will pay any costs we are required to pay by law or the administrator's rules or that we must pay in order for this Dispute Resolution and Arbitration Provision to be enforced. The parties will bear their respective attorney, expert, and witness fees and costs, unless applicable law, these Terms, or the administrator's rules provide otherwise.

1.10.7 Applicable Law and Venue

The arbitrator shall be empowered to grant whatever substantive relief would be available in a court under applicable law on an individual Claim, including, without limitation, compensatory, statutory, and punitive damages (which will be governed by the constitutional standards applicable in judicial proceedings), declaratory, injunctive, and other equitable relief (but only in favor of the individual party seeking relief and only to the extent necessary to provide relief warranted by that party's individual Claim, except as provided in section 1.10.8), and attorneys' fees and costs. The arbitrator shall apply statutes of limitations and privilege rules that would apply in a court proceeding. The arbitration hearing will take place in the federal judicial district where you reside, or at another place mutually agreeable to the parties.

1.10.8 Survival; Severance

This Dispute Resolution and Arbitration Provision shall survive the termination of these Terms or any other agreements between the parties, and will continue in force even after you cease accessing our website or using our Services, after your account is closed, terminated, or suspended, and after you enter bankruptcy (if permitted under applicable bankruptcy law). This Dispute Resolution and Arbitration Provision may be severed or modified if necessary to render it enforceable, except that: (i) if the Class Action Waiver (Section 1.10.3) is declared invalid in a proceeding between the parties that does not seek public injunctive relief, and that determination becomes final after all appeals have been exhausted, this entire Dispute Resolution and Arbitration Provision (other than this sentence) shall be null and void in such proceeding; and (ii) to the extent that you or Opendoor Home Loans LLC prevail on a Claim in arbitration and seek injunctive relief that has the primary purpose and effect of prohibiting unlawful acts that threaten future injury to the general public, the entitlement and extent of such relief must be litigated in a civil court of competent jurisdiction and not in arbitration. The parties agree that litigation of any issues of public injunctive relief shall be stayed pending the outcome of the merits of any individual Claims in arbitration.

1.10.9 Right to Opt Out of Dispute Resolution and Arbitration Provision

You may opt out of arbitration entirely and litigate any Claim if you provide Opendoor Home Loans LLC with written notice of your desire to do so within 30 calendar days of creating an Opendoor Home Loans LLC account. Written notice must be sent by email to arbitration-opt-out@opendoor.com. Any opt out notice must include your name, address, email address, and telephone number and a statement that you opt out of the Dispute Resolution and Arbitration Provision in the Opendoor Home Loans LLC Terms of Service. If you opt out of this Dispute Resolution and Arbitration Provision, that will not affect any other part of these Terms.

Your decision to opt out of this Dispute Resolution and Arbitration Provision also will not affect any other dispute resolution provision that may be contained in a loan agreement, promissory note, deed of trust/mortgage, closing package, or other agreement between you and Opendoor Home Loans LLC; those provisions will remain in full force and effect.

Service-Specific Terms (Mortgage)

2.1 Mortgage Products and Services; Scope

The Services may allow you to: (a) explore mortgage products (including informational rate and payment scenarios); (b) request to be contacted; (c) get prequalified or preapproved (if offered); (d) apply for a mortgage loan directly with Opendoor Home Loans LLC; (e) upload documents and complete verification steps; (f) receive and sign documents electronically; and (g) if applicable, access information about your loan after closing.

Mortgage products are not available in all states and are subject to applicable licensing, underwriting, and program requirements.

2.2 No Agency Relationship; No Fiduciary Duty

Unless expressly agreed in writing, your use of the Services does not create a fiduciary relationship between you and Opendoor Home Loans LLC. We do not act as your financial advisor, investment advisor, or tax advisor.

2.3 Timing; Processing; Conditions

Any timelines displayed in the Services are estimates and may change due to verification, underwriting, third-party dependencies, property conditions, title issues, appraisal timing, borrower responsiveness, and other factors.

We may request additional information at any time, and you agree to provide it promptly.

2.4 Communications During the Mortgage Process

You agree that we may communicate with you about your mortgage request and application using the contact information you provide, including calls, texts, and emails, as permitted by law and consistent with Section 1.7.

2.5 Third-Party Providers

Mortgage transactions frequently require third parties (for example, appraisal management companies, credit bureaus, verification vendors, settlement agents, title companies, and insurers). You acknowledge that: (a) we may select and use third-party providers as permitted by law; (b) these third parties may have their own terms, privacy practices, and requirements; and (c) we are not responsible for third-party acts or omissions except as required by law.

2.6 AI and Automated Decision Systems (Mortgage)

We may use automated decision systems, including artificial intelligence and machine-learning tools, in connection with our mortgage products and services (for example, to help review application information, verify or evaluate data, detect fraud, support credit-related decisions, personalize offers or marketing, or support servicing). We take steps to help these tools operate fairly and to reduce the risk of unlawful discrimination.

You may contact us to request help from a person, ask questions about our use of automated tools, or raise concerns.

We may also use automated tools to personalize offers or marketing. Marketing or prequalification results are not a commitment to lend. If we take adverse action on a credit application, we will provide any notices required by law, including information about key factors affecting the decision.

Note: Depending on the product and process, we may not be able to guarantee that a human review will be available upon request. Our use of automated tools may significantly affect outcomes.

State-Specific Mortgage Disclosures

State-specific disclosures and licensing information that apply to your use of the mortgage Services can be found on the License information page.

AI Chatbot

We may use an AI-powered chatbot ("Chatbot") to assist with providing information related to the mortgage process and home buying and selling process. Please be aware of the following terms and conditions regarding your use of the Chatbot:

Informational Purposes Only; No Legal, Financial, or Real Estate Advice: The Chatbot is designed to provide general information and assist with common inquiries. It is not a substitute for professional advice. You should always seek the advice of a qualified professional with any questions you may have regarding a mortgage loan or real estate transaction. The Chatbot does not provide legal, financial, or real estate advice. You are responsible for verifying any information obtained through the Chatbot before making any decisions based on that information. We are not responsible for any actions you take or do not take based on the information provided by the Chatbot. Any reliance you place on the information provided by the Chatbot is strictly at your own risk.

No Legal Authority to Make Contracts or Act on Behalf of Opendoor Home Loans LLC: Our Chatbot is an automated system and operates without human review. It does not have the authority to enter into agreements, make binding commitments, waive rights, or otherwise act on behalf of Opendoor Home Loans LLC in any capacity. Any statements or representations made by the Chatbot are not legally binding and should not be construed as such.

No Warranty: The information provided by the Chatbot is provided on an "as-is" basis. While we strive to ensure the accuracy and reliability of the information, we do not guarantee that the information is complete, accurate, or up-to-date. We disclaim any liability for errors or omissions in the information provided by the Chatbot.

Limitation of Liability: To the maximum extent permitted by law, we disclaim all liability for any damages, including but not limited to direct, indirect, incidental, consequential, or punitive damages, arising out of your use of the Chatbot or your reliance on any information provided by it.

Potential for Offensive Content: While we strive to program the Chatbot to be helpful and respectful, there is a possibility that the Chatbot may generate content that is inaccurate, inappropriate, defamatory, or otherwise offensive. We do not endorse any statements made by the Chatbot and disclaim any responsibility for such content.

Changes to the Chatbot: We may update or change the functionality of the Chatbot at any time without notice. The content provided by the Chatbot may also change over time as the underlying technology evolves.

Acceptance of Terms: By using the Chatbot, you acknowledge and agree to the terms of this disclaimer. If you do not agree to these terms, you should not use the Chatbot.

Any rights not expressly granted herein are reserved by Opendoor Home Loans LLC.