Program is designed to help homebuyers compete with all-cash buyers in a tight housing market
OriginPoint has announced the nationwide launch of Same Day Mortgage, a loan program that aims to help first-time homebuyers compete with all-cash buyers.
Promising a loan approval in less than 24 hours, OriginPoint said the program is set to level the playing field for first-time homebuyers against cash buyers and to expedite successful closings in a seller's market. With the program, buyers can close in as little as 10 days and earn a $250 discount for submitting required documentation in eight hours.
"OriginPoint is known for leading the charge toward transformative change in the mortgage industry. From the start, we have had an unwavering commitment to blowing up the traditional slow play, overly complicated home financing process, rife with old school methodologies," said James Elliott, president and CEO of OriginPoint. "Same Day Mortgage is the culmination of those efforts. In today's busy world, people expect a fast and easy experience. Using industry-leading technology and a hyper-efficient process, OriginPoint's Same Day Mortgage is built to exceed our customers' expectations. It's a true game changer."
OriginPoint, a joint venture between Guaranteed Rate and Compass Real Estate, first tested the program with select customers in 2022. The company said Same Day Mortgage has since resulted in $1.1 billion in closed loan volume.
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