You’ve Heard of iBuyers, but What About iLenders?

 You’ve Heard of iBuyers, but What About iLenders?

What is an iLender?

In a recent piece here on Millionacres, “How to Pay for a House in Cash — Without Having the Cash,” we highlighted start-up, which lets buyers who qualify for a mortgage submit an all-cash offer on a home.

The news about this fintech mortgage lender is that it just raised $90 million in debt and equity from SignalFire, Y Combinator, and DN Capital, which will allow it to both enter new markets outside of Colorado and double its team.

Another change is in how this company categorizes itself: is now defining itself as an iLender, or a technology-enabled lender, a whole new category in real estate technology.

How does an iLender work?

The way works is that, first, buyers get qualified using the platform. They can then shop for a home up to the amount they’ve been approved for. Once they find a home, buys it, closing within three days, and then sells the home to the…

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