Has anyone financed a home mortgage loan through eloan?
Answer:
E loan is neither a mortgage bank or an investor so, no, they do not service their loans but sell that servicing to others for a profit, just like many wholesale lenders.
A successful borrower/lender transaction is determined just like anything else, the proficiency of the lender and the quality of the communication between the two parties.
As a direct mortgage lender I am, of course, somewhat suspect of reaching into a barrel when I don't know if I'm going to come up with an apple or a snake, but it is a matter of personal choice.
I have heard of successful on line mortgage transactions and horror stories. The more informed the borrower is about the process and their options the more pro-active they can be. The more pro-active they can be the more likely they are to avoid disappointment.
Good luck.
I have wondered the same thing. Anxious to see the answers to this one. Great question.
Somebody must have; they are on TV all the time.
Eloan is a well known service, but they are not a direct lender. They sell your referral to another lender that subscribes to their service. They likely scrutinize each lender so that they only partner with reputable lenders.
There are others too, such as LendingTree which pull in multiple offers from competing lenders so that you can compare rates and terms.
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