I heard that soon people can search for homes on Zillow by monthly payment! Not sure what the backend of that looks like, but just an FYI to REW peeps
Given ever changing rates, down the payments and credit scores, the information consumers receive will be as accurate as Zestimates. In other words generally worthless. The predict Fully preapproved buyers will already have this information and will search as they always have and those searching by “mortgage payments” will be those who are dreaming and probably unqualified.
Not sure this is anything new (though Zillow is making it should that way).
Pretty easy to build really - and to protect from the “right rate” conversation, all you need to is put in “monthly payment” and “interest rate” and let the user choose the rate.
That way, they are setting the parameters based on their own rate, you’re not setting for them.