Zillow Home Loans FAQs

Zillow Home Loans provides online-based mortgage lending services and is committed to delivering best-in-class service and local market expertise, with communication and transparency every step of the way.

Zillow Home Loans was founded in 2000 as Mortgage Lenders of America and was acquired in 2018 by Zillow Group, which houses a portfolio of the largest and most vibrant real estate and home-related brands on the web and mobile.

• Competitive rates and fees
  No upfront appraisal costs*, low down payment options.
  

• Choose from a variety of loan types
  Conventional fixed rate and adjustable rate loans, Jumbo, FHA and VA.
  
  
• Close on time with no surprises 
  Count on us to meet critical deadlines. ZHL closes over 12 days faster based on a survey of over 2500 lenders.**
  
  
• Transparent process
  Consistent and clear updates on the loan process from start to finish.
  

• #1) Get Pre-Qualified: The first step in the Zillow Home Loans process is to get pre-qualified. A pre-qualification is an estimate of what you can afford, based on self-reported income and stated assets as well as a soft credit check (which does not impact your credit). You and your real estate agent can use your pre-qualification result to help you understand whether the homes in your area meet your financial needs. At Zillow Home Loans, we can pre-qualify you in as little as 3 minutes online with no impact to your credit score. Get started with your pre-qualification here.
  
  
  
• #2) Get A Verified Pre-Approval Letter: When you’re ready to start touring and making offers, you’ll want to upgrade your pre-qualification to a Verified Pre-approval letter by completing a hard credit check and submitting documents that confirm the financial information you shared in your pre-qualification.
  
  

• #3) Submit an offer on the home you love: When you find the home you love, your licensed loan officer can update your Verified Pre-approval letter to make the offer you submit more appealing to a seller.

• We are committed to keeping your information safe and secure. We use the same encryption and security used by major banking institutions. And we never resell your information to multiple lenders.

Our licensed loan officers are here to guide you through the financing process. Our loan officers can help answer questions like:

• What are my loan options and how do they impact my monthly payments?
• How does a specific home impact my monthly payment?
• After I find the home I want, what’s next?

Get in touch with us by calling 833-372-1448 or save time and get started online by getting pre-qualified here

Zillow home loans offer a variety of options for mortgages including:

• Conventional Loans
• FHA Loans
• Jumbo Loans
• Veteran Affairs (VA) Loans
  
  We also offer refinance options including: Rate and term refinance, streamline refinance, and cash-out refinance. Additionally, we offer fixed rate and adjustable rate terms on conventional loans.

An applicant is required to have a minimum FICO credit score of 620 for most loan types. Your payment history, amount of existing debt, new credit, length of credit history, and credit mix make up your FICO score. Your record of on-time payments and amount of credit you’ve used are the two top factors. Interested in learning more about raising your score? Check out this Zillow blog.

• Zillow Home Loans provides financing for people looking to buy or refinance single family homes, townhomes, or condominiums.
  
  
• Zillow Home Loans provides financing for primary homes, secondary / vacation homes, and investment properties.
  
  
• Zillow Home Loans does not currently provide financing for mobile or manufactured homes, investment property condominiums, construction / land, or co-ops.

When you purchase a home you typically need to bring in funds upfront to cover the cost of your down payment and additional closing costs. Closing costs are usually between 3-5% of the loan amount, and minimum down payment amounts can be as low as 3% of the loan amount.

If you or your spouse meet the minimum service requirements set by the Department of Veterans Affairs (VA), you may qualify for a VA loan which does not require any down payment. Learn more about low down payment loan options here.

Zillow Home Loans does not currently offer down payment assistance programs. But you may be eligible for down payment assistance programs. Click here to see if you’re eligible.

• Zillow Home Loans currently lends in all U.S. states except New York.
  
  
• Zillow Home Loans is currently not available outside of the United States, including Puerto Rico and other U.S. territories.

• Applicants must be U.S. citizens or non-U.S. citizens who have a legal right to reside in the U.S.
  
  
• A mortgage loan through Zillow Home Loans requires that all applicants possess a valid social security number.
  
  
• Applicants must currently reside within the United States. A home loan application for an applicant working outside of the US, does not qualify with Zillow Homes Loans at this time. Zillow Home Loans does not have access to international credit reports, in order to verify residency, employment and credit history.

In general, to qualify for a loan with Zillow Home Loans, an applicant must have a minimum of 2 years of employment history (1099/W2 reportable taxes) or be a recent college graduate. Exceptions may apply to your specific situations. Additional sources of income may also be used to qualify for a loan with ZHL including public assistance or rental income. Call 833-372-1448 to speak with a licensed loan officer for more information.

• A pre-qualification is an estimate of what you can afford, based on self-reported income and stated assets as well as a soft credit check (which does not impact your credit). You and your real estate agent can use your pre-qualification result to help you understand whether the homes in your area meet your financial needs. At Zillow Home Loans, we can pre-qualify you in as little as 3 minutes online with no impact to your credit score. Get started with your pre-qualification here.
  

• When you’re ready to start touring and making offers, you’ll need to upgrade your pre-qualification to Verified Pre-approval letter by completing a hard credit check and submitting documents that confirm the financial information you shared in your prequalification. Learn more about the difference between pre-qualification and pre-approval here.

• At Zillow Home Loans, we can pre-qualify you in as little as 3 minutes online with no impact to your credit score. During pre-qualification we will review your self-reported income and assets and do a soft credit check to estimate how much home you can afford. Get started with your pre-qualification here.
  

• After completion of pre-qualification you can upgrade to a Verified Pre-approval by completing a hard credit check and submitting documents that confirm the financial information you shared in your prequalification.

• There is no impact on your credit score to become pre-qualified with Zillow Home Loans. Pre-qualification uses a soft credit check, which will not impact your credit score.
• To receive a Verified Pre-approval letter, and in order for our licensed loan officers to provide you with the best loan options, your full credit report is required to be accessed. This will be in the form of a hard credit inquiry, which has the potential to impact your credit score.
  
• Learn more about the impact of different types of credit checks here.