Zillow Launches Mortgage Lending Platform
The real estate listings giant has announced that it will offer mortgages to consumers through Zillow Home Loans, a rebrand of the former Mortgage Lenders of America.
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Zillow is now offering more than just homes through its real estate listings website—it’s offering the financing to purchase them too.
The company has announced the launch of Zillow Home Loans, a mortgage lending platform for Zillow users that aims to streamline the home loan process. The venture is a rebrand of the former Mortgage Lenders of America, a mortgage origination business acquired by Zillow Group last fall.
With Zillow Home Loans, users can expect a more simplified and faster real estate transaction, according to the company. The platform is not restricted to users of the Zillow Offers homes sales feature, an option for Zillow users that launched last month to help homeowners sell their properties faster.
“Getting a mortgage is often the hardest, most complicated part of buying a home,” said Erin Lantz, vice president & general manager of mortgages at Zillow Group, in a press release announcing the launch. “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.”
Making moves
The company also announced it would be rolling out a new look for Zillow’s mobile apps and website in conjunction with the mortgage lending platform.
The online real estate database firm has become a force in the residential real estate market after buying up several competitors in recent years, including the $2.5 billion purchase of Trulia. Zillow recently partnered with Microsoft to analyze data on the Seattle metro area, as part of Microsoft’s $500 million plan to address the affordable housing crisis.
