Zillow Home Loans Mortgage Review 2021

By Suzanne De Vita

Please note: In response to the coronavirus pandemic, lenders are changing their requirements continuously. Although we strive for accuracy at the time of publication, please be sure to check with the lender for updated details on down payments, credit scores, etc.

At a glance

Zillow Home Loans

NMLS: 10287

4.5

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Loans offered

Conventional, FHA, VA, fixed-rate; refinancing options include rate-and-term, cash-out and VA streamline refinancing
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Nationwide availability

Available in all U.S. states except Hawaii, Maine, New Jersey, New York, Vermont, West Virginia and Wyoming
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Min. credit score required

Minimum credit score requirements not available

Pros and cons

Pros

  • A+ Better Business Bureau rating
  • Dedicated loan officer throughout the process
  • Online resources including calculators and checklists
  • Opportunities to save for borrowers interested in Zillow Offers (either purchasing or selling) or working with a Zillow Premier Agent

Cons

  • Can't apply for a loan in-person
  • Can’t apply or check loan status through the Zillow home search app
  • Doesn’t advertise rates on its website
  • No jumbo loans or USDA loans

Zillow Home Loans overview

Zillow Home Loans is a direct mortgage lender affiliated with Zillow Group. The digital lender makes mortgages in most states, but doesn't generally operate from branch locations. To apply for a loan or refinance, you can call or fill out a form on the lender’s website. With conventional, FHA and VA loans on its roster, Zillow Home Loans has fewer options compared to other lenders, but also boasts competitive interest rates on both purchases and refinances. Often, you can get approved in two business days and close in just over 40, which is a shorter timeframe than the average application-to-closing timeline today (as of this review). Zillow Home Loans was renamed in 2019 following Zillow Group’s acquisition of Mortgage Lenders of America the previous year. The lender now has more than 300 employees, including dedicated, experienced loan officers who assist borrowers throughout the home loan process. It is headquartered in Overland Park, Kansas.

Loan types

  • Conventional
  • FHA
  • VA
  • Fixed-rate
  • Refinancing

Lender fees

Zillow Home Loans charges an $850 origination fee, and no application fee. Keep in mind there are typically other expenses associated with getting a mortgage, such as an appraisal or credit check fee, that are included in your closing costs. These are charged by third parties involved in the transaction, not the lender.

Zillow Home Loans does offer opportunities for you to save, however. If you’re interested in Zillow Offers — be it buying a Zillow-owned home or selling your home through the program — you could receive a $1,500 credit from the lender, according to a spokesperson. In addition, if you’re in an eligible market and working with a Zillow Premier Agent, you could save up to 1 percent on the transaction, up to $7,000.

Minimum borrower requirements

In general, conventional loans require at least 3 percent down. If you’re borrowing a conventional loan and your down payment is less than 20 percent, you’ll need to pay for private mortgage insurance, which adds to your monthly mortgage payment. FHA loans require at least 3.5 percent down plus FHA mortgage insurance. VA loans, for military members and veterans, don’t have down payment or mortgage insurance requirements, but do have a funding fee.

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Zillow Home Loans consumer reviews

4.9

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76 reviews

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Knowledge
4.9
Level of service
4.9
Professionalism
4.9
Responsiveness
4.9

97% of reviews would recommend this lender

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Write a review of your experience with Zillow Home Loans.

10 of 76 reviews

The consumer reviews posted on Bankrate.com ("Bankrate") are individual, subjective opinions of reviewers, and not of Bankrate. Bankrate does not endorse any of the opinions expressed by reviewers or any responses to reviews.

To help serve you with relevant information the consumer reviews shown below are limited to only those that this advertiser has received during the past 12 months.

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Great experience

Brian Karriker | NC | 1/14/2021

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Fred Chilton = THE BEST

Cindy A. | Whittier, CA | 1/14/2021

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Amazing Experience

anonymous | VA, USA | 1/14/2021

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"Jake" Waldon Rocks!

Jim Schrader | Missouri | 1/14/2021

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Absolutely incredible!!!

Cheri | Missouri | 1/14/2021

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Excellent Experience with Arch

Derek From Texas | Rockwall | 1/14/2021

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Outstanding process, feedback and professional

TPJ | FL | 1/14/2021

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Ashor Beno

SandyRainey | ID | 1/14/2021

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Awesome Experience

John Talbert | Paducah, jt | 1/14/2021

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Great experience, highly recommended!

Tomm | Phoenix, Az | 1/14/2021