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Urbital and VIG Mortgage partner to launch ‘new era’ in Puerto Rico real estate

The alliance promises faster property transactions with a fully digitalized mortgage process.

Urbital, a leading app providing real estate analysis and data, has announced a strategic alliance with VIG Mortgage, known in the mortgage loan sector for its fully digitized process and 21-day closings. The companies said the collaboration will usher in a “new era” of improved property transaction experiences for prospective buyers and sellers in Puerto Rico.

The companies explained in a new release that their partnership represents a shared commitment toward innovation and efficiency, aiming to simplify the property transaction process by integrating fast and reliable financial services. 

“We have spent almost a year exploring opportunities to partner with a financial institution, and with VIG, we found one that truly speaks our language. The level of its digitalization offer aligns with our offerings, and together we will add value for prospective buyers and sellers in Puerto Rico,” said Giancarlo González, founder of Urbital.

VIG Mortgage President Carlos Ayala shared how VIG optimizes every step of the process using an app that keeps real estate brokers informed in each case. The VIG checklist prevents obstacles that could delay the process, such as discovering last-minute issues like noncompliant septic systems and considering aspects like legal powers and prenuptial agreements. By conducting this preliminary check, problems are anticipated, and the closing process is accelerated.

“VIG Mortgage stands out by not having ‘end of the month’’ rushes. You close a deal at 11 a.m. and by 12 p.m. you’re already having lunch. We have completely paperless processes, incorporating all technologies to provide the best service to the buyer. We are very excited about what we can offer in partnership with the Urbital App,” Ayala said.

The ability of VIG to finance units in non-FHA condos through single unit FHA was also highlighted, as it could represent expanding sales opportunities for brokers. 

“This collaboration is a giant step forward in our effort to make the dream of homeownership more accessible to everyone in Puerto Rico,” stated the CEO of Urbital. “By combining our market-leading technology with the speed and efficiency of VIG Mortgage, we are setting a new standard in customer service.”

VIG said it offers a variety of options that focus on the growing young population seeking apartments and first-time buyer assistance programs.

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