With a little help from Zillow Group, Google today rolled out a new Google Compare product for those looking to analyze mortgage quotes.
Google Compare for Mortgages, announced today, is a free tool that lets homebuyers and homeowners see 300 mortgages from more than 75 different lenders. It’s available now to users in California, with more states to follow.
Seattle-based online real estate company Zillow, meanwhile, is offering up its own data on lender rates, reviews, and ratings to help power the new Google product. LendingTree is also providing data.
“This partnership allows us the unique opportunity to help borrowers by providing them with the industry’s most accurate, real-time information about home loans and mortgage lenders while simultaneously offering Zillow Group’s lenders increased reach for their businesses,” Erin Lantz, Zillow Group vice president of mortgages, said in a statement.
Google, which rolled out a similar product for auto insurance earlier this year, noted that “participation in Google Compare is based on a flexible cost-per-lead (CPL) model, however payment isn’t a factor in ranking or eligibility.” Terms of the deal were not disclosed.
