HomeLight buys digital mortgage lender Eave with eyes set on 6 US states

Companies join forces to match homebuyers and sellers with the best partners, products and services from search to close

HomeLight, a real estate technology platform that empowers people to make smarter decisions when buying or selling homes, announced today that it has acquired Eave, a digital mortgage startup with a proprietary software platform that automates 70 percent of the mortgage process. In conjunction with the acquisition, HomeLight's Home Loans division has launched, with operations in California, Colorado, Washington,Oregon, Pennsylvania and Texas. The companies come together with the shared vision of matching homebuyers and sellers with the best partners, products and services from search to close.

HomeLight is already a trusted resource for home sellers and buyers through its Agent Matching service and Simple Sale™ product. The San Francisco-based company has helped list over $10 billion in homes by connecting hundreds of thousands of buyers and sellers with top real estate agents and pre-approved cash buyers.

Eave offers a full underwrite in just 24 hours, a 30-minute application, guaranteed 21-day close, low interest rates and experts to guide clients through the process. Both companies built their technology platforms from the ground up in order to solve specific pain points throughout the home buying and selling process.

"We're excited to join forces with a team deeply committed to putting people first. HomeLight uses technology to empower homebuyers and sellers in ways that delight them. The process as it is today is bewildering and unpredictable. It's fundamentally broken. Together, we are making it simple, certain and less costly throughout," said Jack McCambridge, Co-Founder and CEO of Eave.

"This is a win-win-win for buyers, sellers, and for agents. Buyers and sellers are fully informed and underwritten before meeting HomeLight agents," said Saro Vasudevan, Co-Founder and COO of Eave. "With our mortgage and escrow services, consumers and their agents can focus on the home, and not worry about the painful details. The frictionless real estate transaction is a reality for HomeLight and Eave. And, every real estate agent is included."

"We're thrilled to bring Eave's stellar product and team into the HomeLight family," said Drew Uher, Founder and CEO of HomeLight. "By harnessing Eave's proprietary mortgage technology, we believe we can significantly improve the home buying process for everyone involved: buyers, sellers, and agents alike."

SOURCE HomeLight

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