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Zillow Home Loans Mortgage Review 2024

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At a glance

Zillow Home Loans
NMLS: 10287
Editor's take

Best known for its listings and Zestimates, Zillow also offers mortgages. Zillow Home Loans can be a solid choice for simplifying the homebuying process. Zillow lets you shop for a home and mortgage through one site.

Bankrate Score
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3.9
Rating: 3.9 stars out of 5
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Customer Rating
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4.8
Rating: 4.76 stars out of 5

92 ratings

Mortgage Percent

Loans offered

Conventional, jumbo, FHA, VA, refinancing

Credit Good

Min. credit score required

620 for conventional loans

Location

Nationwide availability

All U.S. states except New York

Dollar Coin

Min. down payment

3% for conventional loans, 3.5% for FHA loans, none for VA loans

At a glance

Zillow Home Loans

NMLS: 10287

3.9

Rating: 3.9 stars out of 5
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Bankrate Score

Mortgage Percent

Loans offered

Conventional, jumbo, FHA, VA, refinancing

Location

Nationwide Availability

All U.S. states except New York

Credit Good

Min. credit score required

620 for conventional loans

Zillow Home Loans overview

Zillow Home Loans is a direct online mortgage lender affiliated with Zillow Group. It provides conventional, FHA and VA loans to borrowers across the U.S. (except New York). As the financing arm of a company famed for its online listings and valuations, it boasts an easy-to-navigate, information- and tool-packed website.

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Zillow's comparison tool

Along with its listings search app, Zillow maintains the Mortgage by Zillow app. This isn't the same service as Zillow Home Loans; instead, Mortgage by Zillow helps you estimate your homebuying budget and review rate offers from other lenders. 

Pros and cons of Zillow Home Loans

Pros
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    A wide variety of mortgage products

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    Work with an assigned loan officer

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    Online resources including calculators and checklists

Cons
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    No rates listed online

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    Doesn’t consider alternative credit data

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    Doesn’t offer home equity loans or lines of credit

Our Editor’s Take on Zillow Home Loans

Best known for its listings and Zestimates, Zillow also offers mortgages. Zillow Home Loans can be a solid choice for simplifying the homebuying process. Zillow lets you shop for a home and mortgage through one site.

How Bankrate scored Zillow Home Loans

  • Affordability: You’ll need to complete an online prequalification request online in order to learn current mortgage rates for Zillow Home Loans. If you’re just beginning to explore options, this might make it more difficult to compare Zillow with other lenders.
  • Availability: Zillow Home Loans offers conventional, jumbo and some government-backed loans. It doesn’t work with borrowers in New York at this time.
  • Borrower experience: Zillow Home Loans has a user-friendly website and an A+ rating from the Better Business Bureau.

Affordability: 9.8/10

If you’re not ready for a conversation with a loan officer just yet, you might have a hard time comparing offers from Zillow Home Loans with others — the lender doesn’t display current rates on its website.

Availability: 10/10

Zillow Home Loans is available to borrowers in most states (not New York). It offers conventional (including jumbo) loans, FHA loans and VA loans, but not USDA loans.

Borrower experience: 3.8/10

Zillow Home Loans has an A+ rating from the Better Business Bureau. Often, you can get approved in two business days and close in just over 40, which is in line with the average application-to-closing timeline. Its website is designed to be easy to navigate, with homebuying educational resources and calculators to learn more about the mortgage process and estimate costs. Its customer service hours span Monday through Saturday.

Learn more: How to choose a mortgage lender

How to apply for a mortgage with Zillow Home Loans

You can apply for a mortgage with Zillow Home Loans online or by phone atl 888-852-2212. Here are some tips to prepare for the process:

  1. Check your credit report. It’s important to take this step before your lender does, in case there are errors that could impact not only whether you get preapproved but also your ability to get the best mortgage rate. Knowing your credit score also helps you decide what type of loan to apply for. If your score is in the very low 600s, for instance, an FHA mortgage might be best for you, as its standards are more lenient than those for conventional loans.
  2. Gather personal and financial documents. Provide documentation about your income, assets and debts. This includes pay stubs and W-2s and account and loan statements.
  3. Provide details about the property. These details include the address of the home, and you might need an appraisal. (If you’re refinancing, you might or might not need an appraisal.)

Learn more: How to get a mortgage

Refinancing with Zillow Home Loans

Zillow Home Loans offers both rate-and-term and cash-out refinancing options. The lender doesn’t display its refinance rates or fees online, however, so you’ll need to connect with a loan officer to determine whether a refi is worth doing.

Learn more: When should you refinance your mortgage?

Special programs offered by Zillow

Zillow’s 1% Down Payment

Zillow Home Loans announced in 2023 its 1% Down Payment program. Initially offered on properties located in Arizona, the program lets borrowers who qualify put just 1 percent toward their down payment. Zillow Home Loans contributes an additional 2 percent at closing.

The program is for first-time homebuyers who make 80 percent of the median income in the area where they’re buying. So as a borrower, you have to thread the needle of making a low enough income to qualify for the program, but a high enough income to afford the monthly mortgage payments.

Compare Zillow Home Loans to other lenders

Zillow Home Loans
Rating: 3.9 stars out of 5
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3.9

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Bethpage Federal Credit Union
Rating: 4.9 stars out of 5
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4.9

Bankrate Score
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Read full review
First Mortgage Direct
Rating: 4.8 stars out of 5
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4.8

Bankrate Score
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Read full review

Loans offered

Conventional, jumbo, FHA, VA, refinancing

Loans offered

Conventional, jumbo, FHA, refinancing and more

Loans offered

Conventional, jumbo, FHA, VA, USDA, refinancing and more

Min. credit score required

620 for conventional loans

Min. credit score required

620 for conventional loans, 500 for FHA loans

Min. credit score required

620 for conventional loans, 580 for FHA loans, 580 for VA loans

Down payment

3% for conventional loans, 3.5% for FHA loans, none for VA loans

Down payment

3% for conventional loans, 3.5% for FHA loans

Down payment

3% for conventional loans, 3.5% for FHA loans, none for VA loans and USDA loans

Nationwide availability

All U.S. states except New York

Nationwide availability

Available in all U.S. states except Texas

Nationwide availability

All U.S. states

Zillow Home Loans customer ratings and reviews

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NMLS: 10287

4.8

Rating: 4.76 stars out of 5

92 ratings

Info

This lender has 1 recent reviews.

Knowledge
Rating: 4.8 stars out of 5
Level of service
Rating: 4.8 stars out of 5
Professionalism
Rating: 4.8 stars out of 5
Responsiveness
Rating: 4.8 stars out of 5
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93% of customers would recommend this lender.

of 1 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.

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