MCLEAN, Va., Aug. 22, 2022 /PRNewswire/ — NFTYDoor LLC, a digital mortgage startup, today unveiled its home equity platform to give American homeowners a modern way to access their equity with a one-minute online application and funding in as little as three days.
American homeowners are equity-rich, with more than $11 trillion of tappable home equity. However, homeowners looking to use their equity will find that current higher interest rates often make a cash out REFI cost prohibitive. At the same time, traditional home equity lenders take 30 to 90 days to fund due to manual underwriting. NFTYDoor provides a fast solution that is seamless.
“We help homeowners manage and pay for life’s big events,” said Mark Schacknies, CEO and Co-Founder of NFTYDoor. “Homeowners should be able to easily tap their equity on demand to pay for a home renovation, tuition, a car, or pay off high priced personal debt.”
Homeowners can access $25,000 to $250,000 of their home’s equity with a 25-year fixed-rate term, after completing a simple online application. NFTYDoor is a proprietary digital end-to-end platform that leverages Artificial Intelligence to automate underwriting, closing, funding, and servicing. These innovations are regulatory compliant and reduce origination time and costs.
NFTYDoor partners with bank and non-bank lenders so they can offer a branded home equity product to their customers. Jonathan Spinetto, COO and Co-Founder of NFTYDoor, said, “Our platform is a plug-and-play home equity solution for lenders. Our eNotes are stored in the blockchain, unlocking next level efficiency in capital markets.”
Virginia-based NFTYDoor LLC, a digital mortgage lender (NMLS 2324343), provides home equity loans via bank and non-bank lender partners. NFTYDoor is licensed in Virginia, Maryland, DC, Illinois, and Florida, with plans to go nationwide in its first year of operation. Lenders and homeowners can visit NFTYDoor.com to learn more.
Press Release Contact:
SOURCE NFTYDoor LLC