New Loan Detail Graphs on Zillow Mortgage Marketplace
By: Mary Miller, Zillow Director Product Management, Mortgages | August 20, 2009
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.
- Stumble it!
- Categories: Home Mortgage, Mortgages, Refinance
Comments
5 Comments so far
Enjoy this post? Subscribe to the Zillow Blog feed or get updates via e-mail
Real Estate in Kansas City on August 21, 2009 4:22 am
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 on August 21, 2009 8:17 am
Making a good decision involves much more than just comparing rates.
Gainesville Foreclosures on August 21, 2009 8:59 am
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 on August 25, 2009 4:15 am
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 on October 6, 2009 9:34 am
Thank you for providing this interesting graphs