While Zillow celebrated its 4th birthday in February, there is a little sister to Zillow that is also having a birthday and we’re kind of proud of this kid: Zillow Mortgage Marketplace.
Zillow Mortgage Marketplace launched in April 2008, with the idea to help consumers navigate the complicated and confusing mortgage process by empowering them with mortgage information that is transparent. But the biggest benefit we felt compelled to pursue in the development of the Marketplace was to arm consumers with a mortgage shopping experience in which they remain anonymous.
Anonymity is a pretty cool thing when all you want is to shop for mortgage information without having your e-mail inbox fill up with false promises and your phone ringing off the hook. So, we thought, “Why not make the consumer the one in control? Why not reverse it so consumers call lender(s) they like based on the quote, and the lenders’ rating and reviews?” Eureka!
And so here we are, two years later and the Marketplace is growing by leaps and bounds:
Zillow Mortgage Marketplace by the numbers:
12,568,689: Number of quotes submitted on Zillow Mortgage Marketplace
822,687: Number of loan requests since launch
$22,320: Amount you can save on $400,000 loan by lowering rate by 0.25% (5.25-5.00%)
18,488: Number of mortgage questions posted in Zillow Advice
8,718: Free Zillow mortgage widgets installed by agents and lenders
423: Number of projects still on our “To Do” list to make Zillow Mortgage Marketplace a necessary stop for any mortgage shopper
11:
Number of mortgage calculators
23:Contributors on the Mortgages Unzipped blog
0: Minutes it takes to see market rate changes on Zillow rate graphs
Do you need a loan quote anonymously? Try it: Zillow Mortgage Marketplace.