Collaboration is designed to bring greater transparency to the home buying process
Own Up, a digital mortgage shopping concierge, has formed a “commercial relationship” with Realtor.com, a partnership in which the companies aim to make the home buying process less stressful for customers.
According to its release, the new collaboration will give Realtor.com users direct access to Own Up’s mortgage shopping service, including personalized loan offers from its exclusive lender marketplace and real-time advice. Additionally, the partnership will enable homebuyers to gather detailed information about their home financing options as they search listings and find real estate agents.
“From day one, our singular goal was to be a champion for the consumer and bring greater transparency to the home buying process. As the mortgage industry continues to see changes at a rapid clip, it’s crucial that consumers are armed with the right information to make the best financial decisions,” said Patrick Boyaggi, CEO and co-founder of Own Up. “Realtor.com plays an essential role in the home search process for so many Americans, and now we’ll be able to provide mortgage education and tools to comparison shop, boosting buyer confidence as they move through the process.”
“Own Up’s team brings deep mortgage expertise to the Realtor.com online experience,” said Realtor.com chief financial officer Bryan Charap. “This relationship is a natural fit; together, we’re able to expand upon our shared goal of helping Americans find and close on their dream homes.”
Own Up recently closed a $25 million funding round led by Brand Foundry Ventures. Realtor.com also participated in the round along with past investors, Link Ventures and Listen Ventures. Own Up said the capital injection will enable it to build out its tech platform, expand its novel shopping service and product offerings, and invest in its people and culture.
“The housing market is at an inflection point, marked by a lack of inventory and a historic rise in interest rates, and Own Up is uniquely positioned to help consumers navigate one of the most tumultuous components,” said Brian Spaly, general partner at Brand Foundry Ventures. “This next phase of growth will further cement Own Up’s position as the mortgage shopping experts, ensuring no borrower overpays on their mortgage. At this time of inflation and a pending recession, cost-savings have never been more important.”