Zillow Launches Mortgage Origination Service for Homebuyers Using Zillow Offers
Mortgage Lenders of America was acquired by Zillow Group in 2018 and has been renamed Zillow Home Loans.
Zillow Group has announced the launch of Zillow Home Loans, designed 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.
Consumers using Zillow Offers, whether they are selling to or buying from Zillow, are eligible to apply for financing from Zillow Home Loans. The mortgage origination firm, which is based in Overland Park, Kan., was formerly known as Mortgage Lenders of America, until it was acquired by Zillow Group in late 2018.
"Getting a mortgage is often the hardest, most complicated part of buying a home," said Erin Lantz, vice president and general manager of mortgages at Zillow Group.
Lantz noted that mortgage originations enables Zillow Group to "deliver an integrated payments platform to complete the financing for Zillow Offers," creating a more seamless, on-demand real estate experience.
"We continue to offer consumers the power of choice to shop for loans directly through Zillow Home Loans or through our popular mortgage marketplace," Lantz added.
Homeowners using Zillow Offers to sell their home can 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 finance their home purchase, giving them a convenient way to get into their new home on their timetable, with less hassle and stress.
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.
REAL Trends has been The Trusted Source of news, analysis, and information on the residential brokerage industry since 1987. We are a privately-held publishing, consulting and communications company based in Castle Rock, Colorado.
Accessibility: We are making efforts to be ADA Compliant. Should you have any challenges or questions please contact us at (303) 741-1000.