Comments on: Zillow Mortgage Marketplace Adds “True Cost” to Loan Quotes http://morningmortgagenotes.com/zillow-mortgage-marketplace-adds-true-cost-to-loan-quotes/ Daily Commentary on Mortgage News Fri, 20 Nov 2009 22:40:29 -0500 http://wordpress.org/?v=2.8.6 hourly 1 By: Bill Rice http://morningmortgagenotes.com/zillow-mortgage-marketplace-adds-true-cost-to-loan-quotes/comment-page-1/#comment-156 Bill Rice Thu, 23 Jul 2009 17:27:03 +0000 http://morningmortgagenotes.com/?p=240#comment-156 Excellent! I think it is a great idea. Also helps focus the consumer where they should be focusing--goals and outcomes.<br><br>Thanks for the comment! Excellent! I think it is a great idea. Also helps focus the consumer where they should be focusing–goals and outcomes.

Thanks for the comment!

]]> By: Mary Miller http://morningmortgagenotes.com/zillow-mortgage-marketplace-adds-true-cost-to-loan-quotes/comment-page-1/#comment-155 Mary Miller Thu, 23 Jul 2009 16:01:40 +0000 http://morningmortgagenotes.com/?p=240#comment-155 Hi Bill, Thanks for the nice compliment on our new True Cost feature. I want to let you know that we do ask borrowers how long they plan to stay in the home on the initial loan request, and this information is provided to lenders. The new True Cost feature enables borrowers to change those years once they get quotes back, so they can compare across quotes and see how the costs change for different timeframes. This helps borowers weigh the risk if they aren't quite sure how long they will keep the loan. For many of us, plans change over time. This tool provides a way for borrowers to see what they will pay in many different "what if" scenarios. Hi Bill, Thanks for the nice compliment on our new True Cost feature. I want to let you know that we do ask borrowers how long they plan to stay in the home on the initial loan request, and this information is provided to lenders. The new True Cost feature enables borrowers to change those years once they get quotes back, so they can compare across quotes and see how the costs change for different timeframes. This helps borowers weigh the risk if they aren’t quite sure how long they will keep the loan. For many of us, plans change over time. This tool provides a way for borrowers to see what they will pay in many different “what if” scenarios.

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