Zillow Mortgage Loans Review

ByTop10.com StaffAug. 04, 2020

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In a Nutshell

Zillow Home Loans strives to help you secure your mortgage with competitive rates and fees, low down payment options and a variety of loan types to meet your needs. They keep you informed and up-to-date so that you get a smooth and transparent process when getting a mortgage.


  • Competitive rates
  • Top notch customer service
  • Trustworthy and transparent


  • Not licensed in all states
  • No live chat customer support

Zillow at a Glance

Direct lender or marketplace Direct lender
Loan Types Purchase and refinancing
Featured Loans Conventional loans (fixed-rate and adjustable-rate), FHA loans, VA loans, USDA loans
Repayment Terms 10, 15, 20, 30 year fixed, 3/1, 5/1, 7/1 ARM
Minimum Down Payment 3%
Minimum Credit Score 640
Best For First-time home buyers


Zillow is an Equal Housing Lender that provides mortgage loans for the purchase of new homes and refinancing options for current homeowners. With a variety of loan products available, including conventional loans, VA loans, FHA loans, and USDA loans, Zillow home loans have flexible repayment terms, low or no down payment, depending on the loan type, and competitive rates.

Additionally, Zillow has a manual underwriting procedure. While this may take a little longer, it's actually a good thing for borrowers because it means each case is looked at personally and decided on a case-by-case basis. That gives borrowers a better chance of finding approval than the generic, automated process offers.

Best For?

Zillow is a particularly good choice for new home buyers for two reasons. For one thing, the Zillow home loan team is reputed to be supportive, dedicated, and highly-qualified at what they do. Based on consumer reviews and a built reputation, Zillow loan officers are efficient, ready to go to bat for you, and knowledgeable in all the right areas.

What’s more, Zillow spells everything out very clearly on the website. So, for first-time buyers who aren’t familiar with the process of buying a new home, don’t know the terminology, and aren’t clear on the details, Zillow gives them all the information they need to proceed with confidence.

Types of Loans/Products

Zillow home loans offer several loan products for both new purchases and current homeowners looking to refinance. Purchase loans available include:

  • Conventional loans
  • VA loans
  • FHA loans
  • USDA loans
  • Home Possible loans
  • HomeReady loans

Zillow has both fixed-rate and adjustable-rate mortgages. Additionally, you can find refinancing options that include:

  • Conventional
  • VA
  • FHA
  • 203(h)

Zillow home loans offer both mortgage loans and refinancing options for single-family homes, townhomes, manufactured homes, and condominiums.

  • Credit required: 640
  • APR: 3.40%-4.57%
  • Down payments: 0%-3% (requires PMI if lower than 20%)
  • Loan terms: 10, 15, 20, 30-year fixed 3/1, 5/1, 7/1 ARM

The Application Process

Surprisingly, Zillow does not have a totally automated application process, as you would expect there to be from such a big name in the real estate sector. Instead, you can start your application online. But you’ll have to finish it over the phone. Here’s how it works if you want to go via the lending marketplace route:

  1. Fill out the online application form.

    Start your application with a basic online form. This includes questions like, do you want to purchase or refinance a home, are you a first time home buyer, where are you holding in the buying process, do you have a real estate agent you’re working with, and what kind of home are you looking for.

  2. Get results.

    Zillow will generate local lender recommendations based on your application answers.

  3. Make contact.

    A local lender will get in touch with you (or you can get in touch with others from the list) to receive personalized rate quotes. It’s nice that Zillow only gives your number out to a single lender, so you’re not inundated with phone calls from endless brokers or agencies.

Alternatively, you can get a mortgage loan directly through Zillow. This is a more straightforward process that offers the benefit of having a professionally-trained loan officer handle your case from start to finish. If that's the case, after filling in the online application form, a Zillow rep will reach out to you to finalize your application process. Borrowers who are interested in continuing directly with Zillow will be sent a digital disclosure form. That's a convenient step in the process. Zillow's underwriters manually verify each applicant's employment income and assets and will look into property in question to verify that it meets requirements.

Rates and Fees – The Bare Basics

Zillow offers some very low rates. It does charge an origination fee, though, so watch out for this one. Ask before you get too deep into the process how much this will be and if there are any other fees associated with the overall mortgage loan process you should know about.

In terms of loan rates, Zillow's are very competitive. It offers a variety of different loan types, and you can even find low or no downpayment loans. You can get a conventional loan for  3.40%-4.57% APR. Plus, Zillow home loans also have rate-lock offers in different time frames to accommodate more borrowers.

Repayment Terms

Zillow offers several repayment options, a big benefit for homebuyers who like to have their options left open. You can choose between 10, 15, 20, or 30-year fixed-rate loans. Alternatively, Zillow offers adjustable-rate mortgages (ARMs) that range from 3/1, 5/1, and 7/1 variations. Which is the right one for you will depend on how much you could afford to put down, how much you can pay per month, and how fast you want to repay your loan.

Help & Support

As mentioned, borrowers will get a loan office to deal with their case from start to finish. This is personalized customer support at its best. If you have questions before you’ve been assigned someone, you can reach out to customer support via the phone or with the online contact form. Unfortunately, there’s no live chat.

Phone Number:


How Zillow Compares

Zillow LowRates On Q
Credit requirements 640 620 580
Minimum down payment 0%-3% From 0% Usually 3%, but zero-down options are available
DTI ratio 29%-50% typically  43% N/A
Fees Origination fee, Origination, closing  Origination 
Repayment terms 10, 15, 20, 30 fixed, 3/1, 5/1, 7/1 ARM 10, 15, and 30-year fixed 10, 15, 20, 25, 30 years
APR  3.40%-4.57% From 3.365% N/A


Zillow is a reliable name in the real estate industry, so expanding its offerings to the home mortgage sector has been generally viewed as a win-win for everyone. With mortgage and refinancing loans boasting low rates, flexible repayment terms, and personalized customer service, Zillow is certainly settling into the new industry admirably.


Q: Do Zillow lenders bombard you with phone calls until you pick up? 

A: No. Only one local lender will receive your contact information. You have the choice to contact more lenders that are recommended by Zillow if you want. But only one lender will be given access to your information.

Q: How will I know how much to take out for a mortgage loan?

A: Zillow has several online tools that can help first-time buyers figure out how much they should take out for a mortgage loan. To begin with, there is an affordability calculator. This will help you understand exactly how much you can afford to pay towards a mortgage based on your income, expenses, and other factors. Then, the mortgage calculator will help you figure out how much money you should take out for your loan.

Q: What is homeowners insurance, and do I need it?

A: Homeowners insurance is a kind of insurance policy that covers the costs of several damages, including fire, burglary, and structural damage. Homeowners insurance is generally a requirement if you want to get approved for a mortgage loan.

Q: What are closing costs?

A: Closing costs are a broad category of fees you may have to pay when purchasing a home. They're paid at the time of closing the transaction and include things like appraisal, attorney fees, escrow fee, home inspection, origination fee, property tax, survey fee, and more.

Physical Address

10975 El Monte St. 

Overland Park, KS 66211

Zillow Home Loans, LLC, an affiliate of Zillow Group, Inc., is a rapidly growing national provider of online mortgage lending services across the United States. The company became a Zillow Group company in 2018, and it's committed to delivering a seamless and streamlined mortgage experience. Homebuyers can use the company's advanced technology, competitive rates and transparent process to find a mortgage solution that suits their needs.

Zillow Home Loans, LLC’s NMLS ID #10287

Zillow customer testimonials

PoorReviews 91
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  • author
    T Williams
    Aug 06, 2020
    Thank You Solid Source Reality

    I used Solid Source Reality and my agent was Norris Gresham. As a first time home buyer he made my experience an easy one. He gave me valuable information on things to expect and walked with me through the entire process. Even when things looked a little troublesome with my lender he stayed positive and kept me calm. I could not have made it through this process without him. I’d recommend Solid Source and Mr. Gresham to everyone.


  • author
    Illy O
    Aug 06, 2020
    Mark Becker Realtor sold our home in 22 Hours

    Mark Becker Realtor sold our home in 22 hours. 1408 Bucwood Ct, Brandon Florida 335210. Very professional, and informative, we enjoyed doing business with Mark and wish him the best in his career as Realtor. We will always remember the hard work he did, one of the best in town for buying and selling your home. call on Mark Becker we did.


  • author
    Jill G
    Aug 03, 2020
    Bad Business-Bad Customer Service-Horrible!

    I advertised a condo for rent. Zillow cost me precious time and money, by not having my ad accurate, nor having any human communication possible to help fix the ad. 1. They had my property listed in wrong city and suburbs. 2. That had the wrong price on the ad. It was higher than what I was asking. Not good. It took 8 days before anyone responded via email to my requests for help. 8 days! 3. They’d make a correction and a couple days it would revert back to wrong locations and wrong price. Now it’s been on for about 12 days. I just looked at it , and it was listed at 1475, when it’s supposed to be 1397. Price change, by Zillow. Not by me, the Owner. 4. I tried so hard to contact a human. There is no way to do that. I tried. Even called Seattle company number. Was automated and no way to talk to anyone. 5. I’m utterly disgusted with this organization. Didn’t used to be this way. 6. I feel like they’ve got the market monopoly and there aren’t other choices. And they want people to pay for this service??? 7. They cost me loss of time, money, and potential renters. 👎👎👎


  • author
    Mary F Landry
    Jul 18, 2020
    Betty Foret and Mary Landry, thanks Zillow and Lee Cyr

    My sister Betty Foret and I was looking for a house in Bay St Louis for a while, we saw some nice homes and decided to contact someone to show us houses, Zillow sent us to a wonderful guy name Lee Cyr with Power Mark Agents, he was simply the BEST, we now have our dream home, loving it here in Bay St Louis🥰Thanks Lee for all your help and guidance 👍🏼


  • author
    Bob Oettinger
    Jun 30, 2020
    Zillow has my house listed

    Zillow has my house listed, with a number of errors, including the last sales price (off by over $200,000). In TWO days, their zestimate of the value of the house rose $40,00”, then today fell over $47,000 What a waste of time.