ClosingCorp to Provide Closing Cost Data to Consumers Through Bills.com
July 23, 2015
ClosingCorp has entered into a relationship with Bills.com to provide detailed closing cost data and a consumer-facing, closing-cost calculator.
Every month, more than six million consumers visit Bills.com’s online properties to find information on mortgages and other financial products, compare interest rates and terms, and receive offers from leading lenders. As a result of this agreement, Bills.com users will now be able to input a minimal amount of information and see a very “tight” estimate of the amount of fees and costs—such as title and transfer taxes—that might be required to close their loan.
This will provide transparency into the hidden costs of mortgage origination and prevent unhappy surprises at the closing table. A recent study, conducted by ClosingCorp, showed that two-thirds of Millennials were unaware that there were closing costs during the home buying process.
“Bills.com offers broad access to consumers who are seeking insights and information to make informed financial decisions,” said Brian Benson, CEO of ClosingCorp. “ClosingCorp tools and data can give these consumers a more complete picture of the costs of buying a house.”
ClosingCorp tools help consumers understand the rates and fees for closing-related services in their specified county. Consumers can enter a state, county, transaction type, purchase price and loan amount, and then receive customized closing cost calculations. These costs can include appraisals, title and settlement, inspection services, transfer tax, recording fees and more.
Contact ALTA at 202-296-3671 or [email protected].