NewsWealthfront expands mortgage to Washington
They offer mortgages in 4 states now. Washington is the new state. Rates are 50 basis points below the national average.
Wealthfront, a financial services company, just expanded its digital-first mortgage offering to Washington, its fourth active state, joining California, Texas and Colorado. The company claims its platform can deliver rates about 50 basis points below the national average. Michael Young, Wealthfront's director of home lending, says the expansion was driven by client demand, with about 5% of Wealthfront clients living in Washington. The company is licensed in 33 states and plans to expand to Florida, Illinois and Oregon soon. Wealthfront's platform includes a 'scenarios' tool that lets borrowers compare loan options and a process for borrowers with restricted stock units, a common form of compensation at tech companies. This can help borrowers assess whether their RSUs may support a larger loan or a lower rate. Wealthfront's approach is 'confident self-service', letting clients explore options independently. The company's mortgage rates and convenience are attracting borrowers. This expansion may interest Lakewood business owners looking for mortgage options with competitive rates.