After starting in student loan refinancing, Social Finance (SoFi) now offers mortgage packages that target young, professional homebuyers. The company specializes in “jumbo” loans, which require only 10 percent down and can get buyers into homes in expensive markets such as San Francisco and New York.
Fast Company identified five entrepreneurs that are making it easier for buyers to obtain a mortgage digitally.
Landed, which has interest from Facebook’s Mark Zuckerberg, can fund a portion of the downpayment in exchange for a cut of the home’s appreciation. LendingHome used to only focus on “fix and flip” real estate investors but now has packages for first-time buyers. Blend has made software that helps banks become more tech-friendly. Clara Lending offers a fully digitized mortgage process from scratch.