The Star team is at it again and we've taken on the mortgage refinance industry. Finding the perfect mortgage refinance loan is not a simple task, but the Internet has certainly lightened the load so many of us face when paying off our mortgages. E-LOAN was one of the top contenders, as they offer a ton of resources for all things finance. Right from the get go, we were impressed by their intuitive website, but continue on for what else we discovered.
What's New?
- Cash-out refinance available
- Lowest cost guarantee.
- Apply for your mortgage refinance loan online.
Star Reviews Favorite Feature:
Lowest cost guarantee-If you're shopping around based on the cost of your mortgage refinance loan, this can save you a ton of hassle. When you consider the cost of your mortgage refinance, you have to take three things into account including the interest rate, the discount points and the lender/broker fees. E-LOAN guarantees the lowest costs and is willing to bet you $500 that you can't get your loan cheaper with another mortgage refinance lender.
The E-LOAN Experience:
The E-LOAN website is very easy to navigate and unlike some of the other mortgage refinance sites on the Web, E-LOAN is not just a referral service. They actually handle your mortgage refinance needs directly.
From the “Refinance” tab located on the top of the E-LOAN website you can access valuable tools like mortgage refinance calculators, mortgage refinance information and advice and E-LOAN's online mortgage refinance application.
Applying for a mortgage refinance loan on the E-LOAN website is as easy as 1-2-3. First, you submit information about yourself, your income, your existing mortgage and home into their easy-to-fill-out Web form. The E-LOAN website can then offer an instant approval in less than two minutes. After that, you're prompted to complete the application and an E-LOAN rep calls you back within 15 minutes. E-LOAN takes over from there and it's just a matter of waiting for your mortgage refinance loan to close.
E-LOAN Features:
- Online mortgage refinance loan application
- Mortgage refinance articles and advice
- Mortgage refinance calculators
- Lowest cost guarantee
- Guaranteed on-time closings
E-LOAN Customer Support:
E-LOAN offers customer support via chat, email and a toll-free phone number. Sporadically throughout browsing the E-LOAN website we were presented with a chat box offering to connect us to a live rep. It was nice to see a pro-active approach to customer service for a change. When we accepted the offer to chat we were connected with a rep in about one minute. The E-LOAN pro we talked to gave us in-depth answers about mortgage refinance and how it could help us better manage our budget.
Phone support was also a pleasant experience with a wait time of just a few minutes and a friendly and helpful support representative waiting to help us with our mortgage refinance questions and needs. Email support was also friendly and helpful with a response the next business day.
Upside:
Great customer service, lowest-cost guarantee, easy online application
Downside:
Loans funded directly by E-LOAN so they don't provide rate comparisons.
Summary:
Overall, we really enjoyed browsing the E-LOAN website. We felt that this site is a great choice when you're looking for a mortgage refinance loan, as they aren't simply a referral service. You may actually apply for a loan and be funded directly through the E-LOAN service. We really appreciated their lowest cost guarantee, which proves this mortgage refinance provider stands behind their service. After completing a straightforward application, you are offered an instant approval and an E-LOAN rep calls you with further instructions. We really must commend this company on their customer support options, as live chat, telephone and email support all gave us thorough and friendly responses. Way to go, E-LOAN!