Unlocking the path to homeownership
Zillow Home Loans' mission is clear: to give homebuyers the power to unlock life's next chapter. For the millions of Americans in the market for a home, this means making the mortgage process faster, easier, and more transparent.
With real estate prices at an all-time high, it's more important than ever for the company to understand how much borrowers can truly afford. Doing so requires access to accurate, verified data about their assets.
That's where Plaid comes in.
The Challenge
Traditional mortgage application processes are time-consuming and often frustrating for customers. Applicants typically have to manually gather and submit financial documents, leading to delays in the approval process and a poor customer experience.
Zillow Home Loans wanted to modernize this process by implementing a digital solution that would:
Reduce the time to pre-approval
Improve the accuracy of financial verification
Enhance the overall customer experience
The Solution
By integrating Plaid's financial data connectivity platform, Zillow Home Loans transformed their mortgage pre-approval process. The solution allowed applicants to securely connect their financial accounts, giving Zillow instant access to verified financial data.
This integration eliminated the need for manual document collection and verification, creating a streamlined digital experience for homebuyers.
The Results
The implementation of Plaid's solution delivered significant improvements to Zillow Home Loans' operations:
29% faster pre-approval process
Improved accuracy in financial assessment
Reduced manual errors in documentation
Enhanced customer satisfaction with a modern digital experience