Google partners with Zillow for new ‘Google Compare’ mortgage comparison product

“CHARLOTTE, N.C., November 23, 2015 /PRNewswire/ -??LendingTree??, the nation’s leading online loan marketplace, has launched an integration with Google Compare for Mortgages, the latest addition to a suite of Google Compare products created to help consum…”

The new free service is called Google Compare for Mortgages, and lets house hunters search and compare more than 300 mortgages on offer from over 75 different lenders.

The tech giant launched “Google Compare” on Monday, which compares mortgage rate for potential home buyers. “Borrowers can also see ratings and read helpful reviews, and enter relevant information – like loan amount, estimated credit score, or home value – to receive rate quotes that match their needs”. The current lending partners include Zillow and LendingTree, but Google is looking into spreading its wings to other states as it has already done in the UK.

Google is introducing this item under its “Compare” brand, which now consists of an automobile insurance comparison tool.

After getting the tailored results, it is now up to the user to contact the lender.

To power the tool, Google is partnering with Zillow and LendingTree.

Shopping for a mortgage? This is a commercial product and as Google notes, “participation in Google Compare is based on a flexible cost-per-lead (CPL) model”.

After that, though, it’s up to you to contact the lender, though you can also request a callback right from Google’s site (using an anonymous number, so your contact info isn’t shared with the lender).

“Zillow Group and Google share the same vision to first and foremost empower consumers with comprehensive access to valuable information that helps them make confident, more informed financial decisions”, said Erin Lantz, Zillow Group vice president of mortgages, in a statement. This gives the assurance that “the company is paid by the mortgage lenders”.

Google aims to present consumers with an “apples-to-apples comparison” in less than a minute. After completion of the process, Google compare will recommend a lender as well as a full analysis of all the fees accompanying with the loan.