Zillow has a new tool for those of you who wish you could do your mortgage shopping while wearing a ski mask and speaking through one of those things that makes you sound like Darth Vader — the Zillow Mortgage Marketplace.
The service is similar to other offered by outfits like Lending Tree, but the quotes are written without having to disclose your contact information to a bunch of lenders. Zillow explains:
“Your name, address, phone number or Social Security number is not required. However, you need to be accurate in providing other background information — such as the type of mortgage loan you want, your income level and an assessment of your credit rating — through Zillow’s secure system”
Zillow says the quotes you’ll get aren’t computer generated, and you can choose to contact only the lenders who appeal to you.
You will not receive “insta-quotes” done by a computer; these are hand-written mortgage quotes personalized to fit your loan request by confirmed mortgage lenders. Each lender that participates in the Zillow Mortgage Marketplace is required to divulge all quotes, rates, and fees in the mortgage quote that is returned to you. You compare the information provided — including rates, and lender ratings — and then you choose the mortgage lenders to contact.