After the acquisition of Mortgage Lenders of America in 2018, Zillow officially entered the home mortgage business. In April 2019, Zillow Home Loans launched.
With broad name recognition and extensive customer reach, Zillow Home Loans offers a more streamlined home buying experience.
“Getting a mortgage is often the hardest, most complicated part of buying a home,” said Erin Lantz, vice president and general manager of mortgages at Zillow Group. “Since our inception, Zillow has been empowering people with information and resources to make smarter real estate decisions, including helping borrowers shop for the best lender and loan for their new home.”
Zillow also entered the “iBuyer” space with the introduction of Zillow Offers. Like its competitors Opendoor, Offerpad, and Knock, iBuyers step in to purchase an owners home with the expressed purpose of reselling it.
The company (Zillow) said that homeowners using Zillow Offers to sell their home can secure financing through Zillow Home Loans. This allows them to sell their existing home and shop for a new one simultaneously. Homebuyers who want to purchase a Zillow-owned home through Zillow Offers can use Zillow Home Loans to finance the purchase. However, Zillow Home Loans is not restricted to Zillow Offers customers – any Zillow user can apply. – Mortgage Professional America
“With Zillow Home Loans, we are taking an incredible step forward to deliver an integrated payments platform to complete the financing for Zillow Offers that delivers a more seamless, on-demand real estate experience today’s consumers expect. We continue to offer consumers the power of choice to shop for loans directly through Zillow Home Loan or through our popular mortgage marketplace,” added Lantz.
The real estate industry is experiencing rapid change. Much of it is due to technology and the appetite for simple, integrated online solutions for buying and selling real estate.
New Investment Possibilities with Zillow
Real estate investors are now using Zillow though a new tactic called the Z Code. It is a unique way to profit from properties posted on Zillow that allows investors to earn passive income while solving seller and buyer home problems.
The Real Estate Investing Marketplace
For the active real estate investor, advancing technologies and data have streamlined the investment property buying process. At Connected Investors, financing investment property is simplified through the online loan marketplace, CiX.com where lenders specialize in funding investment properties. And like Zillow, Connected Investors provides the Connected Investors Marketplace for investment properties along with “PiN” data services that enable investors to locate investment quality properties nationwide.