A Boise-based company hopes to “transform” mortgage buying and landed its first seed funding round.
Discount Home Loans built out a digital mortgage platform, using a software tool it developed coined Lightning. The company said the platform will help make mortgage buying quicker, as well as providing “some of the best” pricing for consumers. The tool is available in six states including Idaho at launch and hopes to expand to another six soon.
Discount was founded by Blake Bianchi, who previously worked for a variety of home loan providers, including LoanDepot, and as CEO of a San Diego home loans business.
“We are excited for consumers across the country to see the speed and savings of the
Discount platform first-hand,” Capital Eleven Managing Partner Travis Hawkes, Managing Partner said. “Blake has deep domain expertise in the mortgage space, and he and the team have
cracked the code on making the mortgage process faster, easier, and less expensive. As
interest rates begin to increase, these savings will level the playing field for
“We’re excited to build a company that will transform the mortgage and homeownership process as we know it today,” Bianchi said. “Consumer behaviors are changing quickly, and they demand a more transparent, efficient, and affordable process.”
Discount touts what it calls a best price guarantee on home loans. The guarantee fine print offers a $100 credit if a borrower provides a locked loan estimate dated the same day as the one provided by Discount with identical terms, and ultimately closes a loan with Discount.