Back to Results
Q: Would you use a Zillow lender for my purchase or refinance?
1: NEVER – I will read what lenders have to say in the discussions, but I want to work with my local bank2: MAYBE – It depends on the quotes I receive. I want to see what they offer, so I will / have submitted a request3: YES – I submitted a request, received a quote I liked, and would encourage others to do the same4: OTHER – (I hate being boxed into set answers too) Choice #4 is for whatever response or comment you care to make.Note: I’ve used Zillow to track my home value and also check values of possible rental / investment properties for about 2 years. Now that the mortgage section was added, I am curious to see what other BORROWERS think. (OK, Lenders, please feel free to add your perspective and comments).
Please enter a valid email address.
Stating a discriminatory preference in an advertisement for housing is illegal. If you think this content is discriminatory or otherwise inappropriate and feel it should be removed from Zillow, please let us know by completing the information above.
We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.
Correction: Would you use a Zillow lender for your purchase or refinance?
JV I think this is an excellent way for lenders to see how much work really needs to be done here (and I think it is a LOT). This kind of information could be valuable. I do think that it would also be helpful if you identified yourself...seeing that most of us are willing to stand up and be scrutinized and held to account. One of the advantages of everyone viewing ID's and quotes etc. is that it adds transparency. And that is a good thing..isn't it? Dave
Dave, actually I want to remain annonymous. Since I invest in RE, i don't want my ID available to a lot of people. I think there would be a lot of phone calls from prospectors. :)
Background though: Construction - multiple remodel and additons to homes. Currently hold 3 properties as rentals that will be sold after the market finishes correcting. I am also building a spec home out of state. It may make sense for me to send buyers here to get an idea of rates and terms - since I own the home they (prior buyers) have been reluctant to pre-qualify with anyone I suggest.
The reason for the Poll is to see if people are using Zillow just to compare the rates they have been getting or if they really intend to work with a lender here. I see ads on TV for great rates and know that the fine print will exclude most people.
When I buy my next property, I might use a lender from here if I feel comfortabe with them from the discussions and how they present themselves. I was curious how others see the service. I've looked at some of the lender profiles and can tell they are advertising themselves, which I expect and think is good and why they would bother to spend time here.
Now as far as annonymous goes - why don't you have a picture in your avatar? Hiding? :)
I wouldnt. If this was 2003 or 4 , I would probably have a different attitude. But after all the scams, the bait and switches, I would never use the interenet for anything other than gathering information. Its not just for mortgages, but anything.
My clients that I have dealt with on zillow are without question rate shoppers, because that is all they know. They think rate and fee are the only things to consider. There is so much more in today's mortgage arena that need to be considered (I believe) when shopping for a mortgage: Type and use of mortgage, velocity of money principle, arbitrage, liquidity, safety, rate-of-return are all terms I routinely discuss with my clients.
I believe people start on the internet in most cases and as they get closer they want to deal with a person face to face. With that being said, I zillow provides a "no holds barred" approach to this process. Also if a consumer gets a quote that seems too good to be true, it probably is.
In those situtions I would recommend that they simply cut and paste the suspicious quote and start a discussion about it. Anyway good luck!
Please enter text in the "Enter the text to display" field.
Please enter text in the "Enter URL" field.
Please enter a valid URL.
Please insert a video embed only
Zillow Advice depends on each member to keep it a safe, fun, and positive place. If you see abuse, flag it. More on our Good Neighbor Policy.