- Find a Real Estate Professional
- Alaska Realtors®
- Alaska Mortgage Lenders
- Alaska Home Improvement Pros
- Alaska Other Real Estate Services
- Review an Agent, Lender or Pro
- Marketing on Zillow
- Real Estate Agent Advertising
- Join the Professional Directory
- More
Answers (3)
Best Answer
- Candace Camacho, "CandaceCamacho"
- Contributions:420
Hi Cbrown1761,
I am Candace from Zillow mortgage customer support. Great question!
Here is some information about how we get our information for monthly payments.
Zillow calculates the principal and interest portion of the monthly payment using the standard amortization formula based on the loan amount, interest rate, and other information provided by lender. Then it estimates values for property taxes, homeowners insurance, and mortgage insurance based on data it has available so that you don't have to determine these values yourself. The actual monthly payment may be higher.
Were you looking at Zillow quote and wondering how we calculated our payments? What do you mean about how often we update? If you can provide more details that would be great! I would love to get the right answer for you. I hope this helps.
I am Candace from Zillow mortgage customer support. Great question!
Here is some information about how we get our information for monthly payments.
Zillow calculates the principal and interest portion of the monthly payment using the standard amortization formula based on the loan amount, interest rate, and other information provided by lender. Then it estimates values for property taxes, homeowners insurance, and mortgage insurance based on data it has available so that you don't have to determine these values yourself. The actual monthly payment may be higher.
Were you looking at Zillow quote and wondering how we calculated our payments? What do you mean about how often we update? If you can provide more details that would be great! I would love to get the right answer for you. I hope this helps.
- cbrown1761
- Contributions:2
The reason I asked how often Zillow is updated is b/c (I know Zillow has no way of knowing this) we have made several upgrades to our home in the past few years (a/c unit, paved back patio, custom shutters, quartz counter tops in the kitchen to name a few) and the house across the street is (it's smaller and from the pictures that we saw on Zillow, it has a cookie cutter kitchen) and it states that it is worth 30,000 more than ours. I find that HARD to believe. I know they were trying to sell it a few years ago, but it didn't sell, so they took it off the market.
- wetdawgs
- Contributions:26854
Which sort of update are you interested in? The reason for not give a straight answer is there are many different types of update and they are at different frequencies.
The mortgage amount is an estimate payment if one were to purchase the house at the Zestimate with 10% down at today's interest rates for 30 y loans. However, if you hover your cursor over the payment amount, you can change the assumptions and it will recalculate. It is not showing anything about the current owner's mortgage payment.
The mortgage amount is an estimate payment if one were to purchase the house at the Zestimate with 10% down at today's interest rates for 30 y loans. However, if you hover your cursor over the payment amount, you can change the assumptions and it will recalculate. It is not showing anything about the current owner's mortgage payment.
how often is Zillow updated & where does it get the info regarding monthly payments?
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.