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New Loan Detail Graphs on Zillow Mortgage Marketplace

Date:August 20, 2009 | Author:Mary Miller | Category:Home Mortgage

Since it launched in April 2008, Zillow Mortgage Marketplace has offered borrowers a way to anonymously submit loan requests and receive an unlimited number of custom mortgage quotes with real rates directly from thousands of competing lenders.

Over time, we’ve added new features to enhance the loan shopping experience, including super-sexy mortgage rate charts, automated quotes, easy quote sorting and filtering tools, Mortgage Rate Alerts, and the True Cost calculation.

To continue to provide borrowers with the ultimate loan shopping experience, today we added two new graphs to every loan quote borrowers receive from lenders. These graphs help borrowers fully understand the details of each loan quote by presenting them in a dynamic, visual way. The Payment Schedule chart shows the makeup of payments over the life of the loan, while the Cumulative Costs chart shows how much the borrower will pay in cumulative costs over time.

Payment Schedule

Cumulative Costs

Read more about these new dynamic loan detail graphs from Dalton Huynh, the Mortgage Team Software Development Intern who created them, on the Mortgages Unzipped blog.

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Responses (6)

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Real Estate in Kansas City 4:22 AM - Aug 21,2009

Many times I see borrowers chasing the company that offers the “lowest” rate only to find out the fees with this lender were not what they expected. Working with a reputable, knowledgeable lender is as important as having a good doctor or lawyer.
Brandon Green 8:17 AM - Aug 21,2009

Making a good decision involves much more than just comparing rates.
Gainesville Foreclosures 8:59 AM - Aug 21,2009

I agree with Brandon. In addition, most people are stunned when they get their property tax bill. This can be as high as 40% of their annual debt service in my area.
Debtfree 4:15 AM - Aug 25,2009

I agree with the guys above, people go for the quick deal and short term gain, only to be stung in the longer term.
Loan Modification 9:34 AM - Oct 6,2009

Thank you for providing this interesting graphs
AV Homes 4:22 PM - Jul 1,2010

Anything that helps a buyer obtain easy to understand knowledge about how the life of a loan works is awesome. Getting a loan is scary and those charts are very informative and easy to read.