Mike Tassone, one of RateGravity’s founders, was working as a mortgage banking executive when he and his wife decided to buy a house. He was determined to find the best offer, even if it meant not using his own bank to finance his mortgage. Mike was able to use his insider knowledge to hack the process, saving his family more than $40,000 in unnecessary interest on their loan.
This is when Mike realized, “If I can get my home loan this way, why shouldn’t everyone else?”
Soon after, Mike joined forces with 2 other Harvard Alums, Ari Sussman (Chief Product Officer) and Mike Ma (Chief Marketing Officer), to address the flawed home mortgage system and to empower borrowers to make their best financial decisions.
RateGravity’s technology allows the company to collect information in less than 10 minutes and keeps potential borrower’s personal information confidential so they are not bound to any specific lender, and can feel assured that they are getting a fair deal. Consumers will learn whether they will be approved for financing, and if so, exactly how much they can afford to borrow. The system provides complete and unparalleled transparency into all fees, costs, and interest rates available.
In addition, every RateGravity customer is paired with a personal mortgage expert who is available on demand to answer questions or discuss scenarios. RateGravity’s mortgage advisors are non-commissioned, salaried employees who are evaluated on customer satisfaction.
Thanks to proprietary technology, RateGravity is able to operate more efficiently and therefore charges their lenders a flat fee that is just one-quarter of the average commission a Mortgage Broker would receive. Thus, RateGravity has negotiated preferential terms with a fully vetted network of local lenders, meaning more options and more savings for consumers.
“Finding Rate Gravity was one of the best things to happen to our family. They lowered my rate by .625%, saving my family $6,000 in the first year alone.” – Christie B., Mansfield, MA
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