March 19, 2014
/PRNewswire/ -- Zillow, Inc. (NASDAQ: Z), the leading real estate marketplace, today announced the launch of Mortgage Pre-Approval on Zillow®, a new tool that enables home shoppers on Zillow to get pre-approved for a mortgage quickly and easily. Zillow is the first and only home shopping resource where consumers can find a reputable lender, who has been rated and reviewed by other borrowers, to issue them a pre-approval letter in as little as a few minutes.
Mortgage Pre-Approval on Zillow is an important tool home buyers can use to gain an edge over the competition when shopping for a home. This is especially important heading in to the home shopping season, as inventory remains tight in many markets across the country. Getting pre-approved for a mortgage demonstrates to real estate agents and sellers that a buyer is motivated, credit-worthy, and able to act fast.
"In today's competitive real estate market, getting pre-approved for a mortgage can mean the difference between getting the home that's right for you, or losing it to some other buyer," said
, senior director of mortgages for Zillow. "Until now, getting pre-approved was a daunting and time-intensive process. Mortgage Pre-Approval on Zillow makes it significantly easier for home shoppers, who can fill out one short online questionnaire, and get a pre-approval letter within minutes."
Zillow has made mortgage pre-approval simple for users, by providing a safe, secure and easy online process. To begin, a borrower completes a short online questionnaire which asks for information including income, credit score, and monthly debt. They receive an estimated pre-approval amount, and can then continue the process by filling in their name, email address, and phone number. A lender is able to review a borrower's inquiry immediately, pull the borrower's credit score at their request, and if the borrower meets the lender's guidelines, send them a pre-approval letter they can email or print.