How accurate is Zillow's mortgage estimator?

2 Replies

Hey everyone, new to the real estate game here. I was wondering how most of y'all go about determining the mortgage, interest, taxes, and insurance payments on a house. Is the tool on zillow accurate? How do y'all go about getting an insurance estimate? Do you have agents on call that y'all use?
Just trying to evaluate different deals.

Thanks!

Getting a mortgage est is easy. all rates will be the same within a 1/4 point. So plug the amount into any calculator and you're good to go.

Taxes are almost as easy. Most cities will have a tax assessor site where you can see what the tax bill is for a property.

Insurance is harder but is normally based on the amount insured. So once you figure out what you're being charged per $ of value for your asset class then you can est pretty close without having to waste anyone's time with a quote.