Homebuyers can now review the latest mortgage loan quotes right from their phone for loan shopping on the go.[IMAGE]
On Tuesday, ""Zillow"":http://www.zillow.com, a real estate data and listing provider, released a statement publicizing the launch of its latest innovation: a mobile app that allows iPhone users to navigate the mortgage market and receive the latest custom quotes from lenders and mortgage bankers.
According to the company, the Zillow Mortgage Marketplace app for iPhone provides prospective homeowners with advanced calculators and tools to help these users evaluate mortgage rates, determine the exact[COLUMN_BREAK]
amount of their monthly payments, and decide whether refinancing packages would make sense for their homes.
""This addition to Zillow's already robust suite of real estate mobile apps gives consumers valuable personalized mortgage information when they most need it ├â┬ó├óÔÇÜ┬¼├óÔé¼┼ô out shopping for homes,"" said Spencer Rascoff, the company's CEO. ""Our commitment to providing people with the best tools and data for real estate is especially important on location, and now there's a Zillow app for every stage of the home buying process.""
Without requiring any personal information, the Zillow Mortgage Marketplace app provides borrowers with the ability to obtain instant quotes from lenders, shop for the best deal, and assess housing affordability on the spot.
Zillow explained that the phone app enables borrowers to scan more than 8,500 consumer-submitted lender reviews and provides an average of 25 loan quotes per request. The app goes further by allowing users to navigate the market and, ultimately, connect with their lender of choice to secure a home loan.
The phone app is another creative launch for Zillow, which operates a popular array of real estate apps for use by iPhone, iPad, Android, and Blackberry users. The company lays claim to more than 8.8 million user views for 1.8 million homes.