HomeLight Acquires Eave, a Digital Mortgage Lender, to Launch Mortgage Services in 6 U.S. States

SAN FRANCISCO, July 09, 2019 /PRNewswire-PRWeb/ -- HomeLight, a real estate technology platform that empowers people to make smarter decisions when buying or selling homes, announced today that it has acquired Eave, a digital mortgage startup with a proprietary software platform that automates 70 percent of the mortgage process. In conjunction with the acquisition, HomeLight's Home Loans division launches today, with operations in California, Colorado, Washington, Oregon, Pennsylvania and Texas. The companies come together with the shared vision of matching homebuyers and sellers with the best partners, products and services from search to close.

HomeLight is already a trusted resource for home sellers and buyers through its Agent Matching service and Simple Sale™ product. The San Francisco-based company has helped list over $10 billion in homes by connecting hundreds of thousands of buyers and sellers with top real estate agents and pre-approved cash buyers.

Eave offers a full underwrite in just 24 hours, a 30-minute application, guaranteed 21-day close, low interest rates and experts to guide clients through the process. Both companies built their technology platforms from the ground up in order to solve specific pain points throughout the home buying and selling process.

"We're excited to join forces with a team deeply committed to putting people first. HomeLight uses technology to empower homebuyers and sellers in ways that delight them. The process as it is today is bewildering and unpredictable. It's fundamentally broken. Together, we are making it simple, certain and less costly throughout," said Jack McCambridge, Co-Founder and CEO of Eave.

"This is a win-win-win for buyers, sellers, and for agents. Buyers and sellers are fully informed and underwritten before meeting HomeLight agents," said Saro Vasudevan, Co-Founder and COO of Eave. "With our mortgage and escrow services, consumers and their agents can focus on the home, and not worry about the painful details. The frictionless real estate transaction is a reality for HomeLight and Eave. And, every real estate agent is included."

"We're thrilled to bring Eave's stellar product and team into the HomeLight family," said Drew Uher, Founder and CEO of HomeLight. "By harnessing Eave's proprietary mortgage technology, we believe we can significantly improve the home buying process for everyone involved: buyers, sellers, and agents alike."

About HomeLight:
HomeLight is the only objective, end-to-end platform that empowers people to achieve the best outcome when buying or selling real estate. The company's proprietary algorithm crunches hard-to-find home sales data and reviews to determine the best agent or cash buyer to help sellers net the highest return on the sale of their home. To help homebuyers find a local agent, HomeLight analyzes stats on 40+ million transactions using proprietary machine learning algorithms that search through over 1.2M real estate agent profiles. HomeLight is a Google-backed startup revolutionizing the $1 trillion real estate industry. The company has over 150 team members across offices in San Francisco, Scottsdale, Brooklyn and Seattle.

About Eave:
Eave is a digital mortgage lender empowering today's homebuyer. Eave offers simple, transparent home loans that enable all creditworthy home buyers to be treated like cash buyers. The company rebuilt the mortgage industry from the ground up using its proprietary, powerful technology that automates 70 percent of the mortgage process. With Eave, homebuyers are fully underwritten in just 24 hours, providing cash-like certainty. Even better? Eave's clients save thousands of dollars and weeks of frustration.

SOURCE HomeLight