Banner Month for Zillow Mortgage Marketplace

The August numbers are in and it’s official, Zillow Mortgage Marketplace is Zillow’s fastest-growing business today, which is pretty hard to beat considering how fast Zillow.com and Zillow Mobile are growing.  There were 314,000 consumer loan requests in August, up a whopping 500% year-over-year.

We  launched Zillow Mortgage Marketplace in April 2008 as a free, open and transparent lending marketplace, where borrowers connect with lenders to find loans and get the best mortgage rates. Borrowers anonymously submit loan requests and receive an unlimited number of custom mortgage quotes with real rates, directly from thousands of competing lenders.

It’s not surprising that borrowers are embracing this hassle-free way to shop for a loan. For the first time, borrowers do not have to provide any personal information when they submit a loan request.  Borrowers are able to sort through lenders, customized quotes, analyze them, and compare them and then choose, on their own terms, which lenders to contact.  It’s worth repeating, within Zillow Mortgage Marketplace, that the borrower initiates the contact with the lender, not the other way around. In other words, borrowers are in control.

If you are looking to take advantage of low mortgage rates, try it out. We think it’s the best way to shop for a loan.