Zillow, the online real-estate marketplace company, will now include information about a home’s eligibility for a loan from the VA when searching on their site. This new Zillow feature is designed to help the 19 million veterans who are eligible to fund their home purchase using a VA loan. The new tool veterans can save time when researching a new house to buy. This speed comes in handy when buying a home in a competitive market.
Sometimes, home shoppers are not aware of the additional requirements that must be met for a condo to be eligible for a VA loan. Zillow’s new feature helps buyers that are using VA financing for their home purchase. It allows them to immediately see if the condo they’re interested in is VA-loan eligible. Before this tool was available, most shoppers had to toggle between their search on Zillow and the VA website to confirm financing eligibility on every single condo they were interested in.
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With this new tool, veterans shopping for a home are saving valuable time in a hot housing market. Recent Zillow research shows that homes sold in April typically went pending after only seven days — a dramatic acceleration in the market over the past few years, following the COVID-19 outbreak. For perspective, in April 2019, the typical home was on the market for 24 days before an offer was accepted.
“We want everyone to have access to the information necessary to empower their home search,” said Aldona Clottey, Zillow’s vice president of Corporate Social Responsibility. “Adding VA loan eligibility information to our site creates an easier home-shopping experience for veterans. In today’s competitive marketplace, where homes sell in a matter of days, an efficient home search is critical. This feature provides valuable financing information right at the fingertips of our veterans as they search for their next home.”
