To help prospective homebuyers compete against their all-cash competitors, tech-enabled lender UpEquity has announced a collaboration with Zavvie, the real estate brokerage marketplace connecting broker-agents to buyers and sellers. This partnership will expand UpEquity’s solutions to real estate brokerages with thousands of agents nationwide.
Posting a growth rate of over 500% last year, UpEquity is available in 15 states — Arizona, California, Colorado, Connecticut, Florida, Georgia, Idaho, Illinois, New Jersey, Oregon, Pennsylvania, South Carolina, Tennessee and Texas — with plans to add eight more by the end of 2022.
By becoming part of Zavvie’s real estate brokerage marketplace, UpEquity significantly expands its ability to partner with top brokerages throughout the U.S. that use Zavvie’s modern marketplace, the company said.
“Most people are stuck buying and selling a home the old-fashioned way, and UpEquity gives buyers and sellers the options they need to make their moves,” said Tim Herman, CEO and co-founder of UpEquity. “Cash buyers are four times more likely to win a deal versus buyers with financing. And homeowners are much more likely to sell when they are certain they have a place to move into.”
UpEquity provides zero-cost cash offers for well-qualified buyers, boosting purchasing power even for first-time homebuyers. Moreover, sellers can make a cash offer on their new home, then sell their old one.
UpEquity, which also provides permanent financing, uses automated underwriting, powered by a proprietary blend of computer vision and algorithms that ensure low mortgage rates and fast closing — currently averaging 18 days.
