E-Loan Mortgages (California, credit score, 30 year fixed, fees) - Lenders, loans, financing, rates, foreclosures, short-sales, brokers, credit score, deed, lien, refinancing, borrowers - City-Data Forum

ssundown · 03-06-2008, 09:26 PM

Just wanted to know if anyone has ever heard of E-Loan. They are based in California but service all states. Would like some info , if anyone has used them and what did they think of them as a company. Good or bad, would like to hear all opinions. Thanks.

renriq02 · 03-07-2008, 06:56 AM

when i worked at lendingtree they were one of our big competitors.

From what I heard from my borrowers...they have high rates/high fees.

You will only know this if/when you shop around

Niners fan · 03-07-2008, 08:49 AM

I took out a loan from eloan once a couple of years ago. It was the easiest loan process that I ever went through. I don't remember if the fees were high or not. It was for a refinance to a 30 year fixed loan.

ssundown · 03-07-2008, 03:32 PM

Thanks for the info. I thought they seemed to be pretty much the same as all the rest on their rates and fees, but I will check around. They seem to be pretty easy to go through. Just trying to get a good rate on a 30 year fixed loan. I'll see how they compare when I check out a few others. Thanks again.

renriq02 · 03-07-2008, 03:43 PM

make sure not to compare them to another online lender.
Pick a bank, and a broker.

BK2Westchester · 03-07-2008, 03:52 PM

Quote:

Originally Posted by renriq02

make sure not to compare them to another online lender.
Pick a bank, and a broker.

regarding quotes-

don't all these inquiries bring down ones credit score?

Can't a broker just run your credit ONCE and get all the quotes needed and be done with it?

renriq02 · 03-07-2008, 03:55 PM

you can shop for 30days, and have a lender pull your credit everyday.

it will only count as 1 inquiry if you do it within 30days

renriq02 · 03-07-2008, 03:57 PM

i always recommend my borrowers to shop.

I want them to know that they got the best deal with me.
I dont know if they shop, but they always say I have really good rates.

Either way SHOP because it will give you peace/satisfaction that you got a good deal.

ssundown · 03-08-2008, 09:56 AM

Thanks renriq02. I appreciate your info. I have read alot of posts and you really seem most geniuine and honest. I will check with a few neighborhood banks. It's good to know about the 30 days to check your credit. Thanks for all your help!!

DanielChang · 03-08-2008, 06:34 PM

Quote:

Originally Posted by renriq02

make sure not to compare them to another online lender.
Pick a bank, and a broker.

Why is it important not to compare with an online lender? And what difference does it make whether the lender is online or brick/mortar?