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Zillow Home Loans Mortgage Rates Review


ConsumersAdvocate.org Rating: 4.6 / 5 (Excellent)
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Zillow Home Loans, LLC is a direct mortgage lender that is licensed to originate loans in 49 states and Washington, DC. The company offers a wide variety of purchase mortgage and refinancing products, including VA, FHA, conventional conforming, and Jumbo mortgages. Zillow Home Loans was previously operating as Mortgage Lenders of America, LLC, until its acquisition by Zillow, Inc in 2018. It is headquartered in Irvine, California. They are rated A+ by the Better Business Bureau.
 
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How is Zillow Home Loans rated?

Breakdown

4.5/5
Lender Types
4.5/5
Available Mortgage Types
5.0/5
Customer Experience
5.0/5
Reputation & Transparency

Overall Rating: 4.6 / 5 (Excellent)

Zillow Home Loans is a direct mortgage lender owned by Zillow, Inc. The company is licensed in 49 states and the District of Columbia and offers a wide range of purchase mortgages and mortgage refinancing products. However, Zillow Home Loans is not yet licensed in New York. Zillow Home Loans enjoys an excellent reputation online and with the regulatory bodies that report on mortgage lenders' fair treatment of consumers. All in all, the company is an upstanding institution worthy of homeowners' consideration for purchasing or refinancing.

Zillow Home Loans Loan Specifics

Available Mortgage Types - 4.5 / 5

Zillow Home Loans offers several types of fixed-rate and adjustable-rate purchase or refinance loans. Qualified borrowers can apply for a low-cost VA or FHA loan. Zillow doesn't provide details on loan terms on its website, but if the borrower answers a brief series of questions, a loan officer will reach out to help find the right loan for the borrower's purposes and budget.

Zillow Home Loans Customer Experience

Customer Experience - 5 / 5

To start working with Zillow Home Loans, the borrower answers a short series of questions that ask for details such as the type and size of loan, details on the property, income, and estimated credit score (range). The site does not provide estimated offers at that point but rather lets you know that a loan officer will reach out to the borrower. That was the case when we searched for a loan on a modest home in a Midwestern city and indicated we'd make a significant down payment, had excellent credit, and a six-figure income.

Some borrowers would rather have the option of browsing offers before speaking with a loan officer. Zillow Home Loans doesn't follow this model and recommends obtaining an official Loan Estimate in order to compare loan options.

Online Features

Online Application
No
Online Quote
No
Additional Tools and Resources
Mortgage Calculator
Affordability Calculator
Loan-to-debt Ratio Calculator
Help Articles

Zillow Home Loans Qualification Requirements

Qualification Requirements - 4.5 / 5

Zillow Home Loans does not discuss minimum credit scores or down payments, loan-to-value ratios, or other qualification standards on its website. Requirements vary depending on what type of loan you apply for. For example, some government-backed loans offer the option of zero down payment and more lenient credit qualifications. Zillow Home Loans' loan officers can help you explore options that suit your means and credit position.

Key Requirements at a Glance

Non-Traditional Credit History Considered?
Yes

Zillow Home Loans Lender Reputation

Reputation & Transparency - 5 / 5

Customers report high satisfaction with Zillow Home Loans. The company earns an A+ rating from the Better Business Bureau and an impressive 4.4 stars on Trustpilot as of 10/1/2022. The company appears to be diligent in responding to customer complaints and resolving them to complainants' satisfaction. We also noted that there were zero complaints filed against the company with the Consumer Financial Protection Bureau and only three public regulatory actions listed on the Nationwide Mortgage Licensing System in the past several years. These actions were against its predecessor, Mortgage Lenders of America, which occurred prior to the company being acquired by Zillow, Inc. and prior to being renamed Zillow Home Loans.

Key Facts

Lender Type
Direct Lender
Year Founded
2000
BBB Rating
A+
Trustpilot Rating
2.5 out of 5
Collection Date
2021-05-20

Complaints & Regulatory Actions

Nationwide Mortgage Licensing System ID
10287
The Nationwide Mortgage Regulatory Actions
3
Consumer Financial Protection Bureau Complaints
0

Company Profile

Full Name
Zillow Home Loans Mortgage Rates
Company Website
https://www.zillowhomeloans.com
Headquarters
10975 El Monte St., Overland Park, KS, 66211

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