Why It Pays to Get a Zillow Home Loans Quote Before You Buy in Payson
Learn how a Zillow Home Loans quote can help you prepare for buying a home in Payson, AZ, and why working with a local agent is invaluable.
Published
When it comes to buying a home in Payson, Arizona, working with a knowledgeable local agent like me, Brian Inman, can make all the difference. I understand the unique charms and challenges of the Rim Country, from the breathtaking views of the Mogollon Rim to the cozy communities of Pine and Strawberry. But aside from having a trusted friend by your side, one essential step you shouldn’t overlook is getting a quote from Zillow Home Loans. It can provide valuable insights into your financing options and help you understand what you can afford.
.jpg)
Why Get a Zillow Home Loans Quote?
Zillow Home Loans is Zillow’s own mortgage lender, and checking what it will offer you is one of the easiest quotes to add to your list. Here is why it is worth a look:
- It gives you another offer to measure against. The Consumer Financial Protection Bureau recommends requesting multiple Loan Estimates from different lenders so you can compare and choose the loan that’s right for you. Every quote you add makes it easier to spot a good deal.
- It covers the common loan types. Zillow Home Loans offers Conventional, FHA, VA, ARM and Jumbo loans, so you can ask for a quote on the same type of loan you are pricing with other lenders.
- It has low down payment options. Zillow Home Loans lists down payments as low as 3%, or 0% for VA loans, for buyers who qualify.
- Its Verified Pre-approval letter tells you what you can borrow. Knowing your number officially before you shop helps when it is time to make an offer.
- You can search with your real budget. With a Verified Pre-approval, you can search listings using that approval amount, so you are not falling for homes outside your range.
- BuyAbility shows what you can afford. It gives you a personalized estimate of your budget that you can track over time as your savings or credit change.
- It keeps the loan organized if you choose it. After an accepted offer, a Zillow Home Loans borrower can track loan milestones and tasks in a closing dashboard, and Zillow says it guides every customer step-by-step through the mortgage process.
How to Compare Your Zillow Quote With Other Home Loans
A quote only helps if you compare it fairly. Once you have your Zillow Home Loans quote, get at least one more, and then:
- Ask every lender for a Loan Estimate on the same type of loan. Comparing a 30-year fixed loan with an ARM tells you nothing; like for like is the only fair test.
- Get your quotes close together. The Consumer Financial Protection Bureau explains that within a 45-day window, multiple credit checks from mortgage lenders are recorded on your credit report as a single inquiry, because lenders realize you are only going to buy one home.
- Line up the interest rate, the monthly payment and the closing costs side by side. The lowest rate is not always the cheapest loan once the closing costs are added in.
- Ask each lender how long it will lock your rate. Your rate lock needs to last until your closing date.
- Bring the quotes to me. I’ll go through them with you next to your purchase timeline, so the loan you choose fits the home you are buying.
Why Work with Brian?
While Zillow and other home-search sites are handy for browsing listings, they can’t replace the value of working directly with a local agent like me. I have an in-depth understanding of the Payson and Rim Country market, including the ins and outs of various neighborhoods and local issues such as private wells and HOA regulations. I’m here to provide personal, one-on-one assistance from the first showing to the closing table.
One key aspect of working with me is the buyer agreement. Since August 17, 2024, under the National Association of REALTORS® settlement, an agent who participates in the multiple listing service (MLS) and works with you as a buyer must have a written buyer agreement signed before touring a home with you, in person or live by video. This agreement helps clarify expectations and ensures that we’re both on the same page throughout the process. I’ll walk you through this agreement line by line, making sure you understand everything, including any fees, which are open to negotiation.
Frequently Asked Questions
Why should I work with a local agent like Brian?
Working with a local agent provides you with invaluable insights that a website simply can’t offer. I know the Payson market firsthand, can help navigate local concerns, and offer personalized assistance as you search for your perfect home.
What is the buyer agreement?
The buyer agreement is a requirement under the National Association of REALTORS® settlement. It states that an agent who participates in the multiple listing service (MLS) and works with you as a buyer must have a written buyer agreement signed before touring a home with you, in person or live by video.
Written by Brian Inman, REALTOR® — Mountain Bear Homes, Payson, Arizona. Call (623) 512-9763 or email brian@mountainbearhomes.com.