Approval AI is an AI-powered mortgage co-pilot designed to automate the most complex parts of securing a mortgage, including rate shopping, negotiation, and paperwork, all within a single platform. Approval AI streamlines the entire home financing process by handing buyers tools traditionally reserved for brokers and loan officers, allowing them to manage every step from pre-approval to closing.
The platform works by having users complete one simple online form. From there, Approval AI's assistant searches across multiple banks, brokers, and credit unions to find the best mortgage rates, negotiates offers with financial institutions using AI, and manages all necessary paperwork. The goal is to save buyers significant time, money, and stress during one of the most critical financial decisions of their lives. Notably, Approval AI emphasizes user privacy with a zero-spam policy and offers smart guidance, including access to human experts for more complex issues.
How Was Approval AI Started?
Approval AI was founded by Arjun Lalwani and Helly Shah. Both bring deep experience in technology and real estate to the platform. Arjun Lalwani, CEO, was a Product Manager at Google, contributing to Google Hotels and YouTube Shopping, and was motivated by his own home-buying journey. Helly Shah, CTO, previously led projects at Google Maps focused on navigation and geopolitical accuracy and built real-time rates trading systems at Goldman Sachs. Her family background in real estate gives her additional industry insight. Both founders hold Computer Science degrees from the University of Washington. More about their backgrounds can be found on the Approval AI Founders page.
Who Uses Approval AI?
Approval AI is built primarily for individual homebuyers seeking to simplify and optimize their mortgage experience. The platform is suitable for first-time buyers as well as experienced homeowners looking to refinance or secure better rates. By automating negotiations and paperwork, Approval AI appeals to anyone looking to minimize the traditional hassle of the mortgage process.
What Makes Approval AI Different?
- AI-Powered Negotiation: The system negotiates directly with banks, brokers, and credit unions to secure the best possible rates for the buyer.
- End-to-End Automation: Handles everything from rate comparison to paperwork, reducing manual effort and time spent.
- Smart Guidance + Human Support: Offers AI-driven advice with the option for expert human assistance for complex situations.
- Zero-Spam Policy: Protects user data and privacy throughout the process.
Who Are Approval AI's Competitors?
Approval AI operates in the digital mortgage and fintech space, where traditional brokers, online mortgage marketplaces, and various fintech startups are present. However, its direct-to-buyer automation of both rate shopping and negotiations via AI distinguishes it from platforms that only compare rates or connect users with human agents.
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