The space for cellphone house search apps just got more crowded. Zillow just jumped in with one stop shopping for a home – finding a home and FINANCING the purchase!
Earlier this week, the company officially launched its Zillow Home Loans arm, solidifying Zillow’s place at virtually every touchpoint in the home buying and selling process.
Buyers can use its property listings—as well as those on partner sites Trulia and StreetEasy—to find homes, condos and co-ops for purchase. Then, when they’re ready to buy, Zillow Home Loans can help with mortgage financing. Finally, when the homeowner is ready to sell, Zillow Offers can give them an instant way to offload the home without the hassles of the open market.
Erin Lantz, vice president and general manager of mortgages for Zillow Group, said the move into mortgage loans is the company’s way of easing “the hardest, most complicated part of buying a home.”
The announcement isn’t completely out of the blue. Zillow Group acquired Mortgage Lenders of America last fall. The company had approximately 300 employees at the time and logged $54 million in revenues in 2017.
Let’s see if Quicken Loans ups the ante and purchases a home buying app like Huvvit to build on their Rocket Mortgage success.
Live agent? As opposed to a dead agent?