Rocket Mortgage and Mint by Intuit, Inc. have partnered to offer Mint app users the ability to use Rocket Mortgage API to quickly apply for mortgage refinances.
According to a release from Rocket Mortgage, users will be able to make better mortgage decisions in as few as eight minutes.
“Across the country, Americans are struggling with their finances as many face difficult economic times,” Varun Krishna, senior vice president and head of consumer finance at Intuit, said in the release. “As interest rates are near an all-time low, now is an ideal time for many to consider refinancing their mortgages and save thousands.
“For too long, the refinance process has been an annoyingly tedious and overwhelming experience for all of us to find the right lender and loan for our situation,” he continued. “We’re excited to help simplify the process for Mint users with this integration of Rocket Mortgage and give our customers some peace of mind during this already stressful time.”
This is the first time Rocket Mortgage technology has been directly integrated into a personal finance platform. From inside the Mint app, users can pre-fill information they have already entered into their profiles. They are then able to use Rocket Mortgage API to search for, apply, and lock-in refinance rates.
“Mint users are financially savvy and keenly aware of their finances – with many using the app to make smart decisions for themselves and their families,” Tim Birkmeier, Rocket Mortgage chief revenue officer, said. “These are the consumers who will realize they could free up much needed monthly cash flow with a refinance to today’s low mortgage rates. Partnering with Intuit to offer the Rocket Mortgage experience right inside the Mint app is a monumental step for our Rocket Mortgage-as-a-service technology and, more importantly, a great opportunity to vastly improve users’ finances.”
Though the feature is currently only for refinances, the companies are working on adding purchase mortgage options.