FinLocker, which offers a financial fitness and homeownership app, is partnering with HomeScout, a lender-centric platform dedicated to growing conversions and retention rates for the mortgage industry, to help homebuyers overcome home search challenges.
The partnership will enable homebuyers to research the cost of homes in their preferred neighborhoods, create a homebuying budget and receive the downpayment and closing costs associated with that sales price without leaving their FinLocker.
Once homebuyers have achieved mortgage readiness as determined by their credit and financial data in their FinLocker app, they can save their home searches and favorite individual homes to tour with their real estate professional.
“Embedding HomeScout in the FinLocker app supports our mission of providing consumers with a streamlined homebuying experience,” says Brian Vieaux, president and chief operating officer for FinLocker, in a release. “Homebuyers can research the average sales prices of homes in their preferred neighborhood, then input the amount into their app’s home affordability calculator to receive a monthly mortgage payment that suits their income.
“For mortgage lenders, their homebuyers never need to leave their private-labeled FinLocker app to search for a home, reducing their consumers’ exposure to third-party lead aggregators associated with many of the popular free real estate apps,” he adds. “As an additional service, FinLocker mortgage and banking clients who have a direct relationship with HomeScout will have their consumers directed to their company-branded HomeScout, further enhancing their customer’s homebuying experience.”
Homeowners can use HomeScout to monitor comparable homes sold in their zip code directly from their FinLocker app to decide if it’s time to sell. HomeScout will also provide homeowners with their estimated home equity so they can determine if they have enough equity to apply for a cash-out refinance for a home renovation, debt consolidation, or pay off outstanding debts. FinLocker will also use their home value in their net worth calculation.
Photo: Edge2Edge Media