L
ower, a multichannel mortgage lender, has agreed to acquire real estate portal Movoto from its parent company OJO Labs. This deal aims to create an end-to-end homeownership platform, marking another industry transaction in this direction. The financial terms of the acquisition were not disclosed.

    The move will give Lower's retail network access to Movoto's vast digital footprint, which attracted over 150 million visits in 2024. The combined company will connect consumers with top local agents and loan officers, enhancing its localized and personalized service offerings.

    John Berkowitz, CEO of Movoto, will join Lower as president of real estate, working closely with Adam Wiener, who leads technology, marketing, data science, and direct-to-consumer sales at Lower. The combined company will have over 1,000 employees and offices in Columbus, OH, and Austin, TX.

    "The future of our industry lies in blending the best technology with local expertise," said Dan Snyder, CEO and co-founder of Lower. "Acquiring Movoto strengthens our position as a challenger platform."

    Mortgage companies are increasingly focusing on expanding their ecosystems to attract more borrowers. Like Lower, many aim to become one-stop sources for Americans to buy, refinance, and sell homes while reducing customer acquisition costs.

    "The bigger portals touch almost everyone online but fail to help customers through the whole process," said Berkowitz. "By empowering local connections with technology, we can deliver better service to consumers and build a more profitable business."

    This deal marks Lower's second transaction in 2025, following its acquisition of software company Neat Labs in January. The goal is to transform its point-of-sale technology into a fully integrated application-to-funding mortgage platform.

    Chris Heller, President of OJO Labs, said they chose Lower due to its closely aligned vision and culture.