Friday, July 24, 2009

Ever Wonder the "True Cost" of a Mortgage?

They are at it again at First the Zestimate (still makes me think of Zaxby's), then the iPhone search app which has helped more customers than McDonald's does in a good week, and now they have introduced a "true cost" calculation service . Zillow says that this will allow borrowers to figure out how much they will pay in interest and fees over the period they plan to live in the home.

"Borrowers can see how much they will pay in total interest and fees for various loan quotes from potential lenders over a five, 10, or 20-year period," according to Zillow. So instead of going to five different lenders to get a GFE (Good Faith Estimate, now you can do it from the comfort of your Web browser.

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