There are two enormous obstacles in today’s real estate market: competing against all-cash buyers and the certainty of having a home to move into before you sell. Technology is helping buyers and sellers tackle these obstacles by enabling everyday homebuyers to make all-cash offers and allowing sellers to buy their next home before selling their current one.
UpEquity, a tech-enabled lender, is addressing this challenge by revamping the mortgage process to remove barriers for both buyers and sellers.
The Austin-based lender has announced a new collaboration with zavvie, a real estate brokerage marketplace connecting broker-agents to buyers and sellers. This partnership will expand UpEquity’s solutions to real estate brokerages with thousands of agents nationwide, a release from the company stated.
Posting a growth rate of over 500% last year, UpEquity is available in 15 states—Arizona, California, Colorado, Connecticut, Florida, Georgia, Idaho, Illinois, New Jersey, Oregon, Pennsylvania, South Carolina, Tennessee and Texas—with plans to add eight more by the end of 2022, the company said.
By becoming part of zavvie’s real estate brokerage marketplace, UpEquity significantly expands its ability to partner with top brokerages throughout the U.S. that use zavvie’s modern marketplace.
“Most people are stuck buying and selling a home the old-fashioned way, and UpEquity gives buyers and sellers the options they need to make their moves,” said Tim Herman, CEO and co-founder of UpEquity.
“Cash buyers are four times more likely to win a deal versus buyers with financing. And homeowners are much more likely to sell when they are certain they have a place to move into,” he added.
Herman explains that UpEquity “democratizes homeownership” by leveraging technology to create a modern real estate experience with less stress and more certainty.
“Selling or buying a home doesn’t have to be slow, complicated and uncertain,” he noted.
UpEquity provides zero-cost cash offers for well-qualified buyers, boosting purchasing power even for first-time homebuyers. Moreover, sellers can make a cash offer on their new home, then sell their old one, the company said.
UpEquity, which also provides permanent financing, uses automated underwriting, powered by a proprietary blend of computer vision and algorithms that ensure low mortgage rates and fast closing—currently averaging 18 days.
“UpEquity is at the forefront of lending innovation,” said Lane Hornung, zavvie co-founder and CEO. “While disrupting the traditional mortgage process, they continue expanding partnerships with brokerages and real estate agents. UpEquity knows this is the best strategy to accelerating its continued success.”
For more information, visit upequity.com.and zavvie.com.