eLoan Mortgage Ratings |
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 Good service, but not the best rates |
| I’m not too sure if eLoan gives the best rates. I found that they do have a pretty cool website with a lot of general mortgage information and were pretty quick to repond to my inquiries. They were fairly detailed in the approval and had the whole lending procedure and all of the closing costs laid out in simple terms. However, after I was approved with eLoan, I noticed that they didn’t provide the best rates…(this was compared to even some small local lenders. My local bank offered me .5% points lower than their best offer. I thought they had good customer service as they were friendly and knowledgeable. With that being said, I don’t know if they can provide the best possible rates out there. You might want to shop around before signing the dotted line. Visit eLoan's Website Here |
 Positive experience |
Overall, I had a pretty positive Eloan experience. Late last year my husband and I decided that we were going to take out a HELOC to do some home improvements that desperately needed to be done. I ended up applying on the E-Loan website and ended up hearing from an E-Loan agent within a day. We had never taken out a HELOC before, but the loan agent was extremely helpful and explained to us the details of the whole process. The only closing fees that we were going to have to pay was to cover the costs of the appraisal. After the appraisal was complete, we received the paperwork almost instantly. We signed the dotted line, had it notarized and were on our way. Overall, I was very satisfied with the entire loan process. They gave us great service that I wasn’t expecting from such a large lender. Visit eLoan's Website Here |
 How many times can they lose my paperwork |
I started applying for a loan with e-Loan but backed out pretty early in the process. They kept asking me for the same paperwork over and over again and insisted that the would need receive it. I would resend it and get the same response. After 4 errors on their end, I decided that they had no clue what they were doing. I’d avoid them entirely. |
| Great |
I finally got out of a loan for a house I bought a few years ago and ended up refinancing with e Loan. I’m shocked at how low maintenance having a mortgage can be. My last bank had problems non stop. ELoan has made my life a dream. Visit eLoan's Website Here |
| Used them twice and would do it again |
I’ve used E-loan twice in the past 3 years. Once to refinance my home and the other for a small Line of Credit for home repairs. I haven’t had any problems at all and would definitely recommend them. Everything went smooth and just as they said with no unexpected surprises. Visit eLoan's Website Here |
| They changed our loan terms 12 hours before closing. |
| My wife and I applied for a loan through eLoan. We ended up being pre-approved for the amount we had requested. Since we were preapproved, we went ahead with the loan and put down our earnest money. We have an okay credit history. Its not perfect, but still pretty good. Anyway, after we had put our money down, we received a phone call saying that we were being denied and that our pre-approval was based on our credit score and ‘not actually what lenders look from’. ???? Our pre-approval letter was a complete mistake. We ended up putting down our deposit to make this happen and are out financially. This to me is a very SHADY business practice. We called to refund the money and almost filed a lawsuit against them. I wouldn’t trust them at all. In fact, don’t even waste your time trying them out. Visit eLoan's Website Here |
| A trustworthy lender |
I’ve been working with eLoan for about a year and have found them to be pretty trustworthy. I need to refinance my ARM this year, and will probably end up using them again. They spell out their products and loans very clearly on their website which has been a great help. Other online websites make you be approved and go through a whole ordeal to even figure out what is available. Like I said, I used them once and will most likely use them again. Visit eLoan's Website Here |
| Exceeded my expectations |
I applied for a mortgage with eLoan and was pre-approved. I was pretty impressed as the loan officer contacted me within 10 minutes of being approved. I decided to postpone my loan due to some unexpected school expenses. Anyway, I cancelled the loan process A week later I decided to go ahead and move forward. I called them up and was completely shocked that they picked it up right where they left off and had locked in the original rate that I was offered. Within a week everything was done. They were so fast that it exceeded my expectations by far. They’re definitely worth investigating! Visit eLoan's Website Here |
 Not bad |
I bought a new house in 2006 and my realtor told me to completely avoid eLoan. She mentioned that many of her clients had bad experiences with them. Long story short, we ended up financing with eLoan and have been thrilled with our experience. They are quick and easy to work with. I’ve never had to wait very long to reach a customer service rep and they take care of business when I need them. They’re very responsive over phone and email. Visit eLoan's Website Here |
| eLoan Sucks |
Recently I was persuing a loan with E-loan, I haven't borrowed much money in the past, so I'm not real "savy" with loan processes. Some of the the things I don't like about e-loan: You're constantly talking to a different person Not once was I ever comfortable with enough information for such a huge decision I was about to make. I also found it strange after I talked to e-loan all of a sudden spam and telemarketing calls quadrulpled. Did they give my personal information out? It sure seems like a strange coincidence. The "real kicker". After I notified them that I was not going to go thru with the loan with them... the person said to me " Thanks alot for waisting our time and money" ... (to me this was rude and unprofessional) ... my reply to him was "I didn't think it was necessary for him to be a smart alec and because of his "smart alec" answer told me that I was better off in working with someone else. I don't think that they really care about people nor how they feel. So I have made it my quest to post this "experience" in as many places as possible. We "people" deserve to be treated with respect, regardless of our decisions... afterall.... it is OUR MONEY!! E-Loan Sucks!! Visit eLoan's Website Here |
| They have a great eye for detail |
My experience with eLoan has been great. I’m normally a big critic of anyone who deals with my money (banks, auto loans, cable bills, etc), but I have been happy with eLoan. They are prompt and have a great eye for detail. |
| Get ready to wait on hold |
I read somewhere that eLoan was rated one of the best lenders in customer service; however, after my experience with eLoan over the past 12 months I will definitely disagree. I had some problems on my account when they somehow locked me out. Every time I call it takes well over half an hour to reach an eLoan customer service representative and the people I’ve dealt with have been fairly rude. Maybe they’re overwhelmed and stressed by the volume of calls they handle, but they should never take their personal frustrations out against customers. I’ve been hung up on several times and end up calling back and waiting on hold again. Ridiculous. Visit eLoan's Website Here |
| Long hold times is right |
I’ve also had problems with trying to reach eLoan’s loan agents / customer service departments over the smallest details. I’ve tried their email response system as well, but was disappointed in the 3-4 day turn around time that it takes for them to right me back. I have enough to do in my busy day then wait on hold for ever over simple questions. Visit eLoan's Website Here |
| They're website is glitchy |
I applied for a loan with Eloan and another lender the same night. Within an hour I had multiple offers from one lender; however 4 days later…eLoan had never responded at all! I ended up calling eLoan’s customer service number and was told that for some reason they never received my application. I was frustrated, but I heard they had good rates so I thought I’d give them a second chance. I ended up getting an approval offer, but when I logged back into the eLoan website my application had been denied and was in an unprocessed status. I called them back, waited on hold, and they still didn’t have any reason as to what was going on with their web servers. I ended up going with another lender who was actually ‘trying’ to get my business. Best of luck everyone! Visit eLoan's Website Here |
| Worth checking out |
After dealing with several popular online mortgage brokers, I was hesitant to trust anyone because if you read the fine print, you’ll see that they all charge hidden fees here or there when your back is turned. I checked out eLoan and spoke with some people who had used their services. Turns out they don’t charge most of these random fees that others due. I ended up working with a loan officer who was a pleasure to work with. I then checked eloan and found that they don't charge any of these junk fees at all!!! In fact, because of the loan type I used, I received a small rebate as well. She was quick to return phone calls and emails, and got the process done with no complaints. It took about 2 weeks for everything to close – not bad! I’ve read mixed home loan reviews, but I would definitely recommend e-Loan. They did wonders for me! Visit eLoan's Website Here |
| Waste of time |
After dealing with eLoan and going through their entire application process, I realized that I wasted hours of my time – all for nothing. They had promised me one rate, but then after I went to do the closing, they called and said that the rate would be higher as they made an error in my paperwork. I called and spent hours on the phone that night with them and ended up backing out at the last minute. I was irritated that they would wait 12 hours before my final closing to up my rates. I wouldn’t recommend them at all. Visit eLoan's Website Here |
| Not bad, but watch out for spam |
I’ve been impressed with E-Loan, but I’m extremely annoyed by the amount of spam (email and direct mail pieces) that I started to receive after I started my loan. I was getting phone calls non stop! Thank the Lord for the Do Not Call list. They would call at all hours of the day and night trying to refinance me or offer me additional lines of credit using my equity, etc. etc. I don’t know if they have a new procedure or not, but if you’re getting a loan make sure that you read the fine print in case they still sell personal information to 3rd party marketing firms. Visit eLoan's Website Here |
| What a letdown |
I applied for a loan with eLoan and the first loan agent I was working with ended up quitting. Anyway, I started working with a different guy (who sounded like he some stoner frat boy). Anyway, he snapped at me one day because I was unhappy with the answers I had received to some very important questions. I have never financed a 300,000 dollar loan so of course I’m going to have questions! This dude was complete jerk. Screw eLoan. Visit eLoan's Website Here |
 Why did they deny my loan??? |
I have about 70% equity in my home. I applied for a HELOC and went back and forth with them for weeks on missing paperwork, unprocessed decisions, bla bla bla. After 2 months, they came back and said that my 40k loan was denied due to my bad credit (Even though I have well over 250k of equity in my house. I don’t know if this is common or not, but you think my equity would make up for my poor credit. Is it them or is it me??? Visit eLoan's Website Here |
| Would definitely recommend eLoan |
| I just closed my loan with eLoan. From the first time that I logged onto their website to closing my loan took 18 days. I submitted my application online and received an email that an agent would be contacting me soon. I assumed they would call in a few days, but was Shocked to hear my phone ring within 10 minutes. I talked to my loan agent and discussed the rate/options that I had been approved for. She was extremely courteous and helpful throughout the entire phone call. Although I was happy with my initial contact with eLoan I wanted to try a few local lenders to see what they could do. After about a week and 5 banks later, I realized that the rates weren’t even close to what eLoan was offering. I called eLoan back, ordered the appraisal, and locked in the initial rate we were offered. They did a great job communicating with my real estate agent and title company to take care of anything, I just sat back and let them do their work. I didn’t have to pester them to find out what was going on, they just did their job and kept me happy. In fact, they emailed me numerous times throughout the process to let me know the status of my loan. They were extremely flexible and let me send in necessary documents via fax and email scans. This in itself saved days on our closing date. Overall, I had an extremely positive experience with e-loan. I’ve heard stories from friends who had used online mortgage brokers and most were negative. My experience was positive. They were friendly, knowledgeable, courteous, and kept abreast of EVERYTHING that was going on with my mortgage loan. ELoan gets a positive home loan review in my book any day! Visit eLoan's Website Here |
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