Google is now an accredited mortgage broker in California. The company today launched a home mortgage comparison tool for home shoppers in The Golden State, with support for more states coming soon.
Google Partners Up with Zillow and LendingTree
Today’s announcement does not come as a significant shock, considered that the firm currently hinted at the release of this product earlier this year. It’s worth noting that this isn’t really just a public solution for consumers. This is an office item and as Google notes, involvement in Google Compare is based on a versatile cost-per-lead (CPL) model. The company claims that payment doesn’t factor into the ranking or eligibility to participate.
Will the Company Slowly Take Over the World?
Google is introducing this item under its ‘Compare’ brand, which currently consists of an automobile insurance comparison tool. It’s worth noting that Google already offered a similar home mortgage service in the UK. To power this tool, Google partnered with Zillow and LendingTree. The economic terms of the collaboration are unknown, but it looks like Google will be drawing information from lenders on Zillow’s mortgage marketplace, for instance, rather than collaborating with loan providers directly.
This collaboration allows the company a special opportunity to help borrowers by offering them the industry’s most exact, real-time info regarding mortgage and home loan lenders while also providing Zillow Group’s lender boosted reach for their companies. The actual user experience while purchasing home mortgages is pretty basic (and just like the procedure of trying to find auto insurance policy on the very same solution).
Google Compare is Your New Broker
Google Compare will walk you via the standard steps of the process, and after that, it’ll ask you for how long you’re to stay in the residence, to see if you want a 30-year home mortgage or would be all right with a flexible price. At the end of the process, it will offer you an advised loan provider based on your choices, together with a complete breakdown of all the charges linked with the lending.
After that, however, it depends on you to contact the lender, though you can also ask for a callback right from Google’s site using a confidential number, so your contact info isn’t shown to the lender.
