New Mortgage Calculators and Tools

As you may have noticed, we recently made some additions to Zillow Mortgage Marketplace that help borrowers learn about their individual mortgage needs and the state of the current market.

Mortgage Calculators

We added 10 mortgage calculators to help borrowers answer important questions they may have before they begin shopping for a loan. They help calculate:

• How Much Can I Afford?
• Should I Refinance My Home Mortgage?
• Mortgage Payment Calculator
• Comparing Mortgage Terms
• Should I Pay Discount Points For A Lower Interest Rate?
• Should I Convert To A Bi-Weekly Payment Schedule?
• Fixed Or Adjustable-Rate Mortgage?
• Adjustable Rate Mortgage Calculator
• How Do Closing Costs Impact the Interest Rate?
• What Are The Tax Savings For My Mortgage?

Vibrancy Metrics

In addition to displaying the number of loan requests and quotes in Zillow Mortgage Marketplace, we’ve added the number of confirmed, participating

lenders, which was almost 2,000 at the time of this post. What’s significant about this number is that when a borrower submits a loan request, it could potentially be seen by thousands of lenders, not just three or four.

Rate Table

We’ve also created a real rate table to show current average rates for 30-year fixed and 15-year

fixed rate mortgages. The table shows the average rate on Zillow for each of these loan types today, compared to last week. Live quotes from the marketplace scroll beneath the rate table, showing recently submitted individual quotes. To browse loan request and quotes across the U.S. or in any state, just select an area in the drop-down box at the bottom of the module and click GO.

We’ve had lots of feedback since launching Zillow Mortgage Marketplace last month. Thank you for all of your input, and please keep it coming. We will continue to work on additional improvements and new features that will help optimize the marketplace for both consumers and lenders. Stay tuned!