First it was auto insurance and credit cards, and now it’s mortgages — Google launched a mortgage comparison tool for California, adding a new product to the ‘Compare’ brand.
Earlier this year, Google launched an auto insurance comparison tool that lets users compare rates from different providers. Similarly and unsurprisingly, the new service gives users quotes for home mortgage rates in California, with support for more states to come.
The site takes you through some basic steps, asks for your ZIP code, and then runs through a few questions. It’ll also ask how long you wish to live in the house. At the end, it provides you with a lender based on what you chose, and it shows you the fees that come with the loan.
You can then contact the lender to learn more or start the process. Google even offers users an option to request a callback from the site using an anonymous number, so you don’t have to worry about your contact information going to a company.
The news isn’t surprising as Google said the launch of the mortgage tool was coming soon in a blogpost in May.
Google partnered with LendingTree and Zillow, pulling data from the companies’ sites to power its new comparison tool. The site brings visibility to national and local lenders, letting users see real-time comparisons of rate quotes from other lenders, while displaying ratings, reviews, loan amount, estimated credit score, and home value.
“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, vice president of Mortgages at Zillow Group in the blogpost. “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.”
Google says participation with the service is based on a flexible cost-per-lead model, but payment isn’t a factor in ranking or eligibility.
The search giant has already been providing auto and travel insurance as well as mortgage quotes in the U.K. as of 2012. The Compare brand also maintains a credit card comparison site for the United States.
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