Mortgage lender offers 0.75% rate cuts as job perk

A new lender says it can give a company’s employees up to 75 basis points off their interest rate through its mortgage benefits program. 

Multiply Mortgage, founded in 2022, says the average worker utilizing its perks saves up to $5,700 per year, relative to home loan offers they were comparing the offer to. The broker and correspondent lender says it’s working with over 20 lenders to deliver home loan benefits at a time when steep unaffordability has crushed demand. 

“The program has been super well received by employees,” said Michael White, co-founder and CEO of Multiply. “The general theme is that they end up being very grateful to their employer for enabling something as meaningful in their lives as homeownership.”

The Denver-based firm says it’s able to offer the discounts because…