Today, real estate search and valuation site Zillow launched an Android version of its free Zillow Mortgage Marketplace app that helps users calculate different aspects of a mortgage, including estimating monthly payments. It joins an iPhone version released in June 2011.
Since the mobile app’s release for iPhone about eight months ago, its financial calculators have been used more than 1.5 million times, said Erin Lantz, director of Zillow’s Mortgage Marketplace.
The app allows users to:
- estimate monthly mortgage payments based on income, down payment and monthly debt information;
- compare refinance terms to help determine whether a new loan is economically beneficial; and
- connect with potential lenders.
"With the Android app, we were able to take advantage of the unique menu functionality that enables users to easily share information, such as mortgage rates and loan quotes, from every page," said Lantz.