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  • Will Google Broker Become Your New Mortgage Broker?

    December 8, 2015 | Blog Mortgages
  • Google Broker

    Google may be rewarded as the most highly used search engine on the internet today. Hundreds of millions of people visit the site every single day to gather the information and data that they need. For many, it is a one-stop shop that fulfills all necessary information needs. Recently, Google has been expanding these services as a corporation and offering their users more reason to patronize them.

    It started with credit cards and then the auto insurance services that allowed users to compare insurance rates from the different available providers, and the recent addition would be in the area of mortgages. Their Google Compare service has just been expanded by the launch of the Google Mortgage Comparison tool in the California region. This new service gives users insights on the quotes in the market from different lenders for mortgages available in California, and the plan is to expand this service to the rest of the country and then hopefully to the world.

    So, what exactly is the service provided by Google Compare for Mortgages and how does it help mortgage shoppers find what exactly they need in the vast market available today? Google has now become a licensed broker and using their new service will allow home mortgage seekers find several homes that fit their needs and compare the home loans to choose the best one.

    Before buying a home, professional mortgage brokers would provide advice for several options before choosing the best mortgage plan available. Shop around first and take the necessary time possible to find the most valuable deal. This process, though, might take longer than you can afford. The beauty of Google Compare is that it cuts this process short for you.

    Google Broker will ask you for some information that they will need to process your request, for example, your personal information, zip code, property value, how long you wish to stay in the property you are requesting, the size of your down payment and approximately how much your credit score is. A few more questions may be asked, and all of this is done to get the most tailored results for you, which will include the reviews and ratings of the different lenders.

    So basically, Google Mortgage Brokers pairs a mortgage shopper with a lender company. After the initial contact has been made, mortgage seekers can then get in touch with the potential lenders to start the lending process. Consumers are also given the option to request the lenders to give them a call back without giving their information and contact details to just any company. The site utilizes an anonymous number. As we know, Google is extremely protective of the safety of their user's information.

    Right now, Google is already considered to be a licensed mortgage broker; however, the company does not plan to finance mortgages. Its initial and most important role would be to generate the quotes and figures coming from different national lenders that have chosen to partner with them. Several well-known lenders like Lending Tree and Zillow are a part of the list of Google lenders that give users the option to view comparisons of rates and quotes from multiple lenders, simultaneously displaying reviews, ratings, and other valuable information.

    The main goal for Google Broker's is to ensure that users find the mortgage that best suits them. From the very beginning, the ultimate goal of Google in all this was to empower their users by giving them access to the information they need to make the wisest choice. On the other hand, the lender involvement is based on a flexible model that is cost-per-lead. This simply means the company earns through the mortgage lenders through every lender-borrower match they pair up.

    Although this no longer comes as a surprise to us since Google initially announced the development of Google Compare for Mortgages earlier this year, still the progress and development of the company’s services are truly exciting for their avid users. Who knows what they will have to offer us next? Not only are their services vast and meaningful, but they have also become more reliable, informative, and empowering.