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Zillow Group launches Zillow Home Loans to Support Zillow Offers

Home shoppers can now use Zillow Home Loans - formerly Mortgage Lenders of America - to get financing directly from Zillow

SEATTLE and OVERLAND PARK, Kan., April 2, 2019 /PRNewswire/ -- Zillow Group, which houses the largest portfolio of real estate brands on mobile and Web, today launched Zillow Home Loans to deliver an easier and streamlined mortgage experience to consumers. Home shoppers who visit Zillow to shop for a mortgage can now get financing directly from Zillow Home Loans.

Zillow logo, April 2019

Financing is the biggest hurdle to buying a home, and most buyers[1] say they worry about qualifying for a mortgage, according to the 2018 Zillow Group Report on Consumer Housing Trends.

With Zillow Home Loans, consumers using Zillow Offers - whether they are selling to or buying from Zillow - can experience a simpler and shortened real estate transaction with the consistent, quality customer service they expect from Zillow. 

"Getting a mortgage is often the hardest, most complicated part of buying a home. Since our inception, Zillow has been empowering people with information and resources to make smarter real estate decisions, including helping borrowers shop for the best lender and loan for their new home," said Erin Lantz, vice president and general manager of mortgages at Zillow Group. "With Zillow Home Loans we are taking an incredible step forward to deliver an integrated payments platform to complete the financing for Zillow Offers that delivers a more seamless, on-demand real estate experience today's consumers expect. We continue to offer consumers the power of choice to shop for loans directly through Zillow Home Loans or through our popular mortgage marketplace."

Homeowners using Zillow Offers to sell their home can easily secure their financing through Zillow Home Loans, giving them the certainty to be able to sell their existing home and shop for a new home simultaneously. Home shoppers who want to purchase a Zillow-owned home may use Zillow Home Loans to seamlessly finance their home purchase, giving them a convenient way to get into their new home on their timetable, with less hassle and stress. For flexibility and convenience, the use of Zillow Home Loans is not restricted to Zillow Offers' home sales just as borrowers may still use Zillow's mortgage marketplace to shop for a lender and loan for any home purchase or refinanced loan.

Zillow Offers, now available in nine markets, reduces the stress and uncertainty that typically goes along with selling and buying a home. Potential home sellers in markets where Zillow Offers is available can request a free, no-obligation cash offer from Zillow to purchase their home. If the seller accepts the offer, they choose their closing date and then Zillow will conduct a free home evaluation to finalize the offer. Home shoppers purchasing a Zillow-owned home are getting a move-in ready home they can purchase when it's convenient for them. Zillow Home Loans is an affiliated lending platform for Zillow Offers to deliver a better, simpler real estate transaction.

The launch of Zillow Home Loans is a part of Zillow's larger efforts to make buying and selling a home radically easier and is being done in conjunction with the rollout of a new look and feel on Zillow's mobile apps and website.

Zillow Home Loans is the re-named mortgage origination business known formerly as Mortgage Lenders of America, which was acquired by Zillow Group in the fall of 2018.

Zillow Home Loans is currently headquartered in Overland Park, Kansas with over 300 employees.

About Zillow Group, Inc.

Zillow Group, Inc. (NASDAQ:Z) (ZG) houses one of the largest portfolios of real estate brands on mobile and the web that attract more than 176 million people every month. Zillow Group is committed to leveraging its proprietary data, technology and innovations to make home buying, selling, financing and renting a seamless, on-demand experience for consumers. As its flagship brand, Zillow® now offers a fully integrated home shopping experience that includes access to for sale and rental listings, Zillow Offers™, which provides a new, hassle-free way to buy and sell homes directly through Zillow; and Zillow Home Loans, LLC (NMLS #10287, an Equal Housing Lender), Zillow's affiliated lender that provides an easy way to receive mortgage pre-approvals and financing. Other Zillow Group consumer brands include Trulia®, StreetEasy®, HotPads®, Naked Apartments®, RealEstate.com and Out East®. In addition, Zillow Group provides a comprehensive suite of marketing software and technology solutions to help real estate professionals maximize business opportunities and connect with millions of consumers. Zillow Group business brands for real estate, rental and mortgage professionals include Mortech®, dotloop®, Bridge Interactive® and New Home Feed®. The company is headquartered in Seattle, Washington.

[1] 54 percent of buyers say they are somewhat concerned or very concerned about qualifying for a mortgage, according to the 2018 Zillow Group Report on Consumer Housing Trends.

(ZFIN) 

 

Zillow Home Loans logo, April 2019
Zillow Group logo, April 2019
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