Profile picture for gaiana

how does zillow calculate monthly payments?

How much are they assuming is the down payment when they calculate monthly payments?
  • August 20 2010 - Cambridge
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Answers (6)

Profile picture for isabelcollier566
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  • February 02
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Profile picture for LS225
You can change the downpayment, and the program will adjust.  What you can not change are the tax and insurance estimates, and Zillow almost ALWAYS underestimates these (especially property tax!)
  • February 02
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You can click and unclick the box for taxes ect. Find any online mortgage calculator. You might be able to purchase a little more now that the rates are lower. You should always know what you can afford before you make any offer.
  • August 20 2010
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Are you referring to a loan quote you received on Zillow Mortgage Marketplace?

Or are you referring to the monthly payment seen on a home details page(Zestimate page)?

-Geoff-
  • August 20 2010
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Profile picture for wetdawgs
Zillow assumes a 20% down payment.
  • August 20 2010
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Profile picture for shapiroamg
I believe zillow does include an estimated payment for taxes and insurance. If needed you can figure this out on your own. most of the city/towns should have tax rate numbers on their websites. If you look at listing ads for properties you are interested in, taxes should be listed too. Homeowners insurance could run approximately 500-1000 depending on the size of the home. It might be more if a 2-4 family.
  • August 20 2010
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