At Credit Karma, we’re on a mission to help our 80+ million members make financial progress. Whether it’s filing your taxes for free with Credit Karma Tax or getting the best deal on an auto loan, we have the scale and technology to help you through every step of your financial journey — and that includes owning a home.
Affording a home is one of the greatest challenges our members will face and the process of getting or refinancing a home loan is fragmented and unclear to most buyers. We estimate that Americans are overspending nearly $100 billion per year on their mortgages, with our members holding 20% of the outstanding mortgage debt in the United States. To help these members, our goal is to become the trusted destination for homebuyers on their home loan from start to finish.
To help realize our vision, today we’ve announced the acquisition of Approved, a digital mortgage platform and the newest addition to the Credit Karma team. Approved CEO Andy Taylor and CTO Navtej Sadhal, both Redfin veterans, will join our mortgage team along with the remainder of their team.
With the addition of Approved’s expertise and technology, our members will get a mortgage with fewer steps, less manual paperwork and greater certainty. When combined with the fact that 80% of members are already on Credit Karma 90 days prior to getting a mortgage, we believe the combination of the two companies is exciting and beneficial to our members.
Check out the note from Andy on his decision to join Credit Karma. Welcome to your new home, Approved.
Nikhyl Singhal
Chief Product Officer