How Zillow’s tools empower potential homebuyers in the market
Potential homeowners enter the housing market with two questions: Where do I start? How much house can I afford? Once the process gets underway, almost half of home buyers indicate that they will shed tears at some point. Potential homeowners should be able to deal with this confusion in a world where technology and digital tools dominate customer service. Fortunately, buying a home doesn’t have to remain confusing for first-time buyers.
Zillow Home Loans – the platform’s affiliated mortgage provider – drives the future of financing. The lender offers innovative tools and technology to make the home purchasing process more accessible, transparent and personal.
Providing access to market-defining research and data
Most shoppers view listing and pricing information through the Zillow platform, broker websites, or multiple listing services (MLSs). However, potential homebuyers often need to pay more attention to market research and data to guide them in the market.
Zillow offers a robust monthly cost calculator to help potential buyers budget for monthly payments. Users can enter a potential home price, down payment, interest rate, loan terms, property taxes, insurance costs, and homeowners association (HOA) fees.
Providing personal financing guidance to home buyers
By providing access to transparent information, Zillow offers buyers personalized solutions tailored to their unique situation. First of all, buyers can do that get in touch with expert lenders or financial advisors via Zillow’s folder. These advisors can provide specific guidance on loans, down payments, and improving credit to qualify for financing.
If home shoppers want to figure out their budget, there’s Zillow Home Loans Buying opportunity tool provides a personalized, estimated purchasing budget. Buying opportunity uses the most recent mortgage rates, and customers can change their financial information to test their BuyAbility. After a one-time installation, buyers can quickly identify the homes they qualify for – with monthly payment estimates.
Educating homebuyers on essential resources for achieving homeownership
Many buyers, especially first-time buyers, can take advantage of down payment assistance programs, tax credits and subsidies as they pursue home ownership. By promoting understanding of these resources, Zillow can significantly increase the confidence and affordability of potential homebuyers accessing these programs.
In collaboration with Down Payment Source (DPR), Zillow publishes down payment assistance information next to entries. Potential buyers enter basic information and receive a list of available programs. DPR also provides specific, personalized details and links to additional learning resources.
Financing is an inevitable part of the home purchasing journey for most buyers. Therefore, consumers should take the time to prepare for and understand the financing process. Zillow also offers articles and resources in addition to assistance options – including options not affiliated with Zillow Home Loans. These tools illustrate the platform’s continued commitment to helping homebuyers become owners.
The mortgage process is complex, but it doesn’t have to stay that way. With access to the right information and clarity about the financing process, agents can confidently empower customers, which translates into a better experience for all parties.
