Own Up

About Own Up

Own Up operates as a financial technology firm focused on the U.S. mortgage market, providing a digital marketplace to connect homebuyers with lenders. The company was founded in 2015 by Patrick Boyaggi and Mike Tassone and was initially named RateGravity before rebranding. The founders, both former senior vice presidents at a top-50 national lender, drew upon their insider knowledge to establish the company. Boyaggi, the CEO, recounts that the inspiration came from his own experience of securing a better mortgage deal outside of the bank where he was an executive responsible for billions in residential lending. Tassone, the COO, previously co-founded a student loan advisory service and has extensive experience in residential lending operations.

The firm's business model is centered on providing a free, transparent service to consumers while generating revenue through a fixed fee paid by the lender when a loan closes. Own Up states that its fee is the same regardless of the lender chosen, which is intended to align its interests with the homebuyer's goal of finding the best financial outcome. The company positions itself as a mortgage shopping service rather than a direct lender, using technology to simplify the financing process for purchasing a home or refinancing an existing mortgage.

The platform allows users to anonymously compare pre-qualified loan offers from a vetted network of lenders, including banks and credit unions, without requiring a hard credit check. It provides homebuyers with tools to understand their purchasing power, generate on-demand pre-approval letters, and receive personalized advice from a dedicated home advisor. By eschewing the traditional commission structure and using AI to curate lenders, Own Up aims to reduce costs for the borrower, claiming average customer savings of tens of thousands over the life of the loan. The company has secured significant venture capital, including a $25.5 million Series B round in 2022, to fuel national expansion and technology development.