Zillow Home Loan Review 2022 – Forbes Advisor


Most Zillow Home Loans mortgage products are offered for five-year terms (10, 15, 20, 25, and 30 years), but it depends on the loan type. In April 2022, the lender takes an average of 33.5 days to close all of its purchase loan products and 32.6 days for refinances (from application to financing).

Zillow Home Loans is licensed to provide mortgages in all states except New York, New Jersey and West Virginia. However, the company’s interest rates are not necessarily competitive. During the week of April 14, Zillow Home Loans’ average 30-year fixed-rate conventional mortgage rate was 5.15%, according to a spokesperson, compared to a US average of 5% during the same week. .

Related: mortgage calculator

Home Buying Loan Options

Zillow Home Loans offers conventional mortgages, Federal Housing Administration (FHA) loans, Department of Veterans Affairs (VA) loans, and giant mortgages up to $2 million. But here’s a more detailed breakdown of the minimum credit score and down payment required for each type of loan.

Keep in mind that with an FHA loan, although you can deposit less than 20%, you will have to pay monthly mortgage insurance premiums for the term of the loan if you do.

Refinance loan options

Zillow Home Loans also offers a handful of refinancing options, including several that streamline the process:

  • RefiNow by Fannie Mae
  • FHA streamline refinancing
  • Will streamline refinancing

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