Financial App Review: Zillow Mortgage App

By Dian Vujovich

Once a week I’ll be reviewing financial apps. Financial, in this case, will cover all types of investment apps from stock and fixed-income ones, to precious metals, commodities and personal finance apps etc.

It’s no secret that adding apps into our lives has become commonplace for many. So common that the use of them can become addictive. According to Flurry, a mobile analytics company that tracks 500,000 apps on 1.3 billion devices, the average user “launches an app 10 times a day” and defines a mobile app addict as someone who opens one “60 times a day or more”.

I’m thinking that’s a low figure, but whatever. What’s a for sure is that Flurry reports the number of addicts is growing faster than the number of average app users. Guess sometime in the future 12-Step App meetings will be all the rage. Until then, here’s my latest review.

Zillow Mortgage App

Overview: A terrific app home buyers and home dreamers can play with for hours and in the end will show them whether that new or used home they’ve got their eye on could become  a reality.

Data: Basically three calculator sections–the Payment calculator, Affordability calculator and Refinance calculator. Plus, a Shop Mortgage section and Rate History file.
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•App is…Ideally suited for anyone interested in purchasing a new or used home or condo and curious about whether or not it really is a home they can afford.

•Quality of data, information: Excellent

•Timeliness of date: Excellent and updated daily.

•Sight navigation: Visually very easy-on-the-eyes and easy to navigate.

For example, I found out that my $2,000,000 home with a 10 percent down payment was going to cost me $11,564 a month based on a 4.02 percent mortgage rate. And, of that $885 a month would go for mortgage insurance, $167 for homeowners insurance and$1,875 was taxes (zip code used 33401).

An extra plus? A Social Security Number is not required to use this site/app until you decide to connect with them.

•Ad clutter: None I saw except under the Shop Mortgage Rates section where three financial institutions were listed.

•Problems: It took a little  fiddling to get all  working on my part. But no headache ensued.

•Cost: Free

OVERALL Palm Beach Money Rating: TOPS.