Homie Announces the Launch of Homie Loans: Using Technology to Reduce Fees and Improve Service

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Tech start-up Homie is automating the entire real estate vertical, not only cutting out agent commissions, but also revamping mortgage loans. By paying loan officers a flat fee instead of a percentage of the loan, Homie saves customers on average up to half the typical amount paid to lenders in fees and other related mortgage costs.

First Homie cut out agent commissions, now we've also cut out loan officer commissions--dramatically changing how much Homie users pay.

Startup tech company Homie, whose technology platform automates home buying and selling, is now offering mortgage loans. This new service aligns with Homie’s goal to revolutionize the entire real estate industry. Buyers can now get pre-qualified and secure a home loan online through Homie’s software platform.

By streamlining the process and restructuring how loan officers are paid, Homie offers customers the lowest interest rates in the state. On average users will save up to half the typical fees paid to lender’s by using Homie’s loan processes.

“First, Homie cut out agent commissions, now we’ve also cut out loan officer commissions—dramatically changing how much our customers pay to buy or sell a house,” stated Johnny Hanna, Homie CEO and co-founder. “Our goal is to automate the entire vertical, using technology to reduce bloated commissions and traditional transaction costs.”

Homie acquired Utah-based mortgage company Econ Mortgage in mid 2017 to begin offering home loans to customers.

“Saving people money by reducing the costs associated with mortgage loans has always been the goal of Econ Mortgage,” says Phillip Burnett, former owner of Econ Mortgage and now VP of Mortgage Operations at Homie. “Joining the Homie team is a win-win-win for all parties involved -- especially for our clients. By continuing to leverage our combined forces we anticipate some major shake-ups to the industry’s antiquated processes.”

About Homie
Homie is a peer-to-peer digital marketplace that helps home buyers and sellers meet and complete real estate transactions online. This Utah-based startup company is automating and streamlining the entire real estate transaction, including finding a home, making an offer, and negotiating the transaction. Homie now also offers home loans, further reducing the traditional costs of buying and selling a home.

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Sharon Benedict
Homie
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