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Zillow to offer pre-approval for home loans

Zillow, the multi-platform suite of real estate apps on all platforms is taking a big step to separate themselves from the pack when it comes to shopping for a home digitally.

Get preapproed for loans right through Zillow
Photo Courtesy of Zillow

Most people know Zillow as a resource for home buying, selling, comparing and remodeling,but now they are diving head first into financing.

Zillow has announced that mortgage pre-approval is now available on their Zillow mortgage and real estate apps on iPhone, iPad and iPod touch. Now you can shop with that pre-approval in your hip pocket.

“Home buying can be extremely competitive today due to inventory shortages. Having the ability to get a pre-approval letter instantly can make the difference between getting the home or losing it to a buyer who is better prepared," says Erin Lantz, vice president of mortgages for Zillow. “With this tool, we are able to streamline the pre-approval process from days to minutes. Securing pre-approval shows real estate agents that a buyer is serious, and it provides our users an enormous advantage when searching for a home.”

The whole process is pretty easy.

Zillow users begin by filling out a simple questionnaire. They then will receive initial quotes from lenders.
Once this occurs, the shopper can have the said lender pull a current credit report. Based on this, and if the home buyer meets certain guidelines, they will receive that valued mortgage pre-approval letter right on their mobile device.

This letter can then be saved, printed, or emailed as needed.

Wow, times have changed, but if there is one thing we know about the real estate business, it's there will be change.

Thorough all of the changes in the real estate universe, Zillow continues to grow and thrive.

In July, 83 million unique users visited Zillow's mobile apps and websites. This represents growth of 49% from last year. The mobile space continues to explode. About two-thirds of Zillow visits come from a mobile device, like a smartphone or tablet. This even increases on weekends when it hits about 70%.

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