NeighborCity Announces BorrowSmart: A Simple Way to Save Time and Money On Your Mortgage

SAN FRANCISCO, June 4, 2012 /PRNewswire/ -- NeighborCity®, an online residential real estate service that matches home buyers and sellers with qualified real estate agents, today announces its BorrowSmart program to assist buyers in obtaining a home loan. In a competitive housing market, home buyers need their Realtor® and lender to work as a team in order to quickly take action as soon as a buying opportunity presents itself. Unlike traditional methods, lenders that are a part of the BorrowSmart program offer 30-minute pre-qualifications and typically fund with in in 30 days or less.

NeighborCity has partnered with select national direct lenders to provide a single destination for buyers to get a home loan with competitive rates and responsive service. The BorrowSmart service connects buyers with these lenders to receive fast and efficient mortgage prequalification as well as access to a variety of loan programs.  Each lender agrees to work closely with the buyer's real estate agent to help the client succeed in today's hyper-competitive market where timing is a critical factor in completing a purchase, especially if it is a short sale or foreclosure.

"We are dedicated to providing our clients with an edge in their real estate transactions and the BorrowSmart service delivers on that promise," said Jonathan Cardella, CEO of NeighborCity. "We do not ask our customers to choose from a long list of lenders with arbitrary ratings and teaser rates. Instead, we connect our customers directly with quality lenders that provide competitive loan programs and rates they stand behind without the delays associated with the big banks."   

In order to achieve the highest degree of service, NeighborCity has made agreements with mortgage banking companies rather than individual loan brokers. Current BorrowSmart leading partners include The Federal Savings Bank, Supreme Lending, Prospect Mortgage and Patriot One Mortgage. Unlike other real estate websites, NeighborCity does not allow individual mortgage brokers to advertise their business or promote themselves. Additionally, NeighborCity does not sell its customer's information, ensuring its clients will not be inundated with high-pressure sales calls from mortgage brokers who bought the buyer's contact information.

"It is easy for home buyers to get led down the wrong path because they fill out a form online that gives them an unrealistic idea of what they can afford," said Todd Jones, managing director of The Federal Savings Bank. "We are thrilled to be working with NeighborCity because we can provide a more reliable prequalification figure to customers along with a variety of loan programs all while working closely with the client and their real estate agent to ensure the best outcome possible when purchasing a home."   

"For most people buying a home is the single largest purchase they will make in their lifetime and as a lender we understand that our clients need a realistic view in to what they can afford," said Dale Petrillo, branch manager at Supreme Lending. "We offer a variety of loans and are committed to ensuring our customers get a clear picture of what they can afford so they can achieve their homeownership while being comfortable with the amount they have borrowed."

About NeighborCity

NeighborCity makes the residential real estate market more transparent by giving home buyers and sellers the information they need to make intelligent real estate decisions. Through its AgentMatch service, it rates virtually every real estate agent in the country based on performance and quickly connects consumers to the agents best suited to them.  

For more information please visit http://www.neighborcity.com/

NeighborCity and AgentMatch are registered trademarks NeighborCity, Inc. All other trademarks and product names are the property of their respective companies.

Media Contact:
Katie Camacho
FortyThree, Inc.
831.332.9744
[email protected]

SOURCE NeighborCity