Lower acquires Movoto, as it pushes to build end-to-end platform

Mortgage lender Lower is acquiring Movoto, a home search website, from prior parent company OJO Labs, the companies announced Tuesday.

The combination of the two firms will create "an end-to-end homeownership platform" connecting consumers, originators and real estate agents. The vision echoes a similar one pursued by Rocket Companies through its acquisition of Redfin, announced weeks ago.

Dan Snyder, CEO and co-founder of Lower, said the purchase of Movoto strengthens the firm's position "as the challenger platform" and gives it a chance to capture "significant market share." 

"The future of our industry lies in blending the best technology with the irreplaceable expertise of local agents and loan officers," Snyder said in a statement. "Movoto is the perfect platform to accelerate this vision, allowing us to create a simpler, smarter path to homeownership." 

Financial details of the Lower-Movoto deal were not disclosed. Movoto, ranked among the top five U.S. real estate platforms, received more than 150 million visits in 2024, a press release claims.

The combined company will have more than 1,000 employees, with offices in Columbus, Ohio, and Austin, Texas. 

Immediately after the closing, the teams will integrate Movoto into the Lower brand. John Berkowitz, current CEO of Movoto, will transition to Lower and serve as the president of real estate at the multi-channel mortgage lender.

The purchase will connect Lower's almost 500 sponsored loan officers with "thousands of motivated homebuyers and top-performing agents in their markets," the firm said.

"Modern technology should work for the local loan officer, not replace them," said Craig Montgomery, chief strategy officer at Lower, in a statement. "Movoto arms originators and agents with real-time opportunities and puts them at the center of the homebuying journey – right where they belong. It's the kind of innovation that puts originators in a position to win consistently."

This is Lower's second acquisition in 2025, with the first being the purchase of software firm Neat Labs in January.

Combined with the acquisition of Neat Labs and the launch of the LowerOS mortgage platform last fall, the purchase of Movoto will position Lower for rapid growth into a broader fintech organization, the company said in a press release.