Move, Inc., (NASDAQ: MOVE), operator of the leading homes for sale web sites, today introduced a new online source of mortgages powered by a new consumer-facing decision and pricing engine designed specifically to empower buyers to explore their mortgage options in real time with a selection of loans, including conventional, FHA, VA and jumbo loans backed by real rates using a multitude of scenarios that reflect their financial situation.
The site, called Mortgage Match, will be integrated into Realtor.com, the Internet's most popular real estate site, later this month.
Move said MortgageMatch.com was developed to give first time buyers or refinancing owners the tools they need to find and prequalify for the right loan in as little as 10 minutes.
"Like many Realtors, we're concerned about the recent difficulties buyers are having throughout the home loan process, especially in getting approved in time to keep a purchase from falling through," said Move Chief Executive Officer, Steve Berkowitz. "While there's no single, easy solution to this problem, we believe making it easier for consumers to navigate the mortgage loan and approval process will help them as they work with an agent to purchase a home. Move is committed to helping both buyers and Realtors be more successful together, and we believe the choices, reliability and user experience MortgageMatch.com delivers will help everyone involved avoid the frustrations and confusion that can lead to lost deals or costly delays."
Noting that half of all home buyers in 2010 were first-time buyers, Sue Stewart, senior vice president, Move Inc., said "Mortgagematch.com is an ideal option for first-time buyers who have little or no experience with mortgage finance, especially those who prefer the flexibility and transparency of an online experience. However, for buyers, homeowners interested in refinancing or consumers who want to talk to a mortgage specialist in real time, we operate a full-service off-line call center staffed by loan officers, loan processors, underwriters, and customer service representatives."
Because Mortgagematch.com was designed with first time home buyers in mind, visitors are welcomed to the site with a full library of easy-to-understand information integrated throughout the Mortgagematch.com prequalification and application process.
"First time buyers or consumers that conduct much of their business online will find Mortgagematch.com to be a comfortable, secure online environment that lets them explore scenarios and move at their own speed to find the loan and terms that best fit their financial situation," Stewart says. "We envision consumers using the Mortgagematch.com PreQual Plus tool in the comfort of their own home, at their favorite coffee house, or with their agent before they begin the home search process," said Stewart.
Mortgagematch.com was developed to work in tandem with online property listings to empower buyers with the financial information they need to make the best real estate decisions for their personal lifestyle and financial situation. Move plans to integrate the Mortgagematch.com experience into the Move Network of real estate web sites so buyers can experiment with different financing scenarios and evaluate their options as they house hunt online.