A couple years ago, Google launched a tool for comparing car insurance in Europe, and finally launched it in the U.S. earlier this year. At an AdWords event in May, the company announced the expansion of this feature to mortgages in the U.S. under the Google Compare brand.
Today, Google announced the introduction of this feature in California.
"Buying a home is a major financial decision — so when it comes to getting a mortgage, people want an easy way to understand and compare their options online," says Google Compare director of product management Nicolas Wk. "That’s why we added a mortgage calculator to organic search earlier this year. Yet nearly 1 in 2 borrowers still don’t shop around for their mortgage and often feel like they don’t have enough information to make an educated choice.1 To help them make confident, more informed financial decisions, we’re introducing the newest addition to our suite of Google Compare products: mortgages, which we announced earlier this year and is now available in California with more states to follow."
"Google Compare for mortgages provides a seamless, intuitive experience that connects lenders with borrowers online," adds Wk. "Whether you’re a national lender or one local to California, people searching for mortgages on their smartphone or desktop computer can now find you, along with a real-time, apples-to-apples comparison of rate quotes from other lenders — all in as little as a minute. Borrowers can also see ratings and read helpful reviews, and enter relevant information — like loan amount, estimated credit score, or home value — to receive rate quotes that match their needs. They can then visit your website to apply directly online or over the phone through one of your agents or loan officers."
Google says participation in Google Compare is based on flexible cost-per-lead model, but payment isn't a factor in ranking or eligibility.
Image via Google