illinois Digital News

The metaverse is causing a virtual real estate boom

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Imagine this scenario: You’re looking to buy a home in Atlanta, San Francisco and Tampa, Florida — three of the nation’s most competitive housing markets. 

But, those dreams could get dashed waiting for a loan to help with the mortgage as multiple all-cash offers come rumbling in, squeezing you out of the process. 

This is where companies such as UpEquity could assist.

The digital mortgage startup uses its underwriting technology that includes machine learning, artificial intelligence, and algorithms to verify clients’ applications and approvals faster. It also works with buyers who have all-cash offers. 

UpEquity CEO and co-founder Tim Herman and chief technology officer Andy Pruitt claim they reduce closing times of home buying from the typical industry standard of about 50 days to 18.



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