Homie.com adds home loans to its site
05 Jul 2017
Homie.com, a platform where home buyers and sellers meet and complete real estate transactions at a fraction of the cost of commissioning an agent, now also offers home loans as part of its package of measures to reduce the cost of buying and selling a home. Homie launched in 2015, operates in Utah only but plans to move into more states in the U.S..
The start-up aims to automate and streamline real estate transactions, including finding a home, making an offer, and negotiating the transaction. The company is able to automate agent tasks, as well as mortgage, appraisal, inspection and closing 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.
Homie also won the People’s Choice Award at the 2017 Start Madness Competition. The U.S. $300,000 competition (part of the Silicon Slopes Tech Summit) was designed to give Utah start-up founders the opportunity to present the market viability and technological innovations behind their businesses.
Homie also provides licensed real estate attorneys to help homeowners with contracts and offers, advertises listings on syndicated channels and has an exclusive partnership with KSL Homes. On its own site, listings are presented on a map, and the search can be narrowed down to a neighborhood (here).
According to Crunchbase, Homie received $8.3 million U.S. in three rounds of funding from four investors, namely Epic Ventures, Valar Ventures, Peak Ventures and KPCB Edge.