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When we arrived at the E-Loan website, we were impressed by the
straight forward and simple design. The streamlined designed made it
easy for us to find the mortgage section of the website.
We initially thought that E-Loan was a direct lender. However, when we
clicked on the "Home Purchase" tab, we were taken to a page that seemed
to be sponsored by Lending Tree. When we clicked on the "Start Now"
button, we were in fact taken to the Lending Tree website. At the
Lending Tree website, we were told we could obtain 4 competing mortgage
loan quotes. Getting 4 competing mortgage loan quotes with one
application is a good thing; however we just were not expecting this.
In essence, E-Loan is advertising both products and services from
Lending Tree. Star Reviews would have liked to see this notification
made upfront before clicking on the "Start Now" part of the application
process.
That said, the loan application process is rather straight forward. The
mortgage loan application process is three steps, which takes about 10
-15 minutes. After the application is completed, the consumer receives 4
competing mortgage loan offers.
Key E-Loan Mortgage Features- Receive 4 competing mortgage loan offers with one application
- Live customer support
- Mortgage calculators
Favorite ELoan Mortgage Feature
Despite not being a direct lender, the Star Reviews team liked that we were able to receive 4 competing mortgage loan offers with one application. We like how lenders compete for the consumer's business, which can help to provide the consumer with more competitive rates.
All ELoan Mortgage Features- Receive 4 competing mortgage loan offers with one application
- Live customer support
- Mortgage calculators
- FAQ section
- Glossary
- Free credit score and credit report options through E-LOAN's partners
ELoan Pricing
There is no cost to obtaining 4 competing offers through E-Loan. There is also no obligation to use any of the lenders provided in the competing offers. E-LOAN also states that all of their trusted providers do not charge an upfront application fee to begin the mortgage loan process. Origination fees are based on the state in which the loan is originating from and the policies of the chosen lender.
ELoan Customer Service
Customer service options at E-LOAN include phone support at 1-888-533-5333 as well as submission of an online form. Live chat operator support is available from 8:00 am - 7:30 pm EST Monday through Friday, however when we tried to contact the live chat operator during this time, we were informed that there was no agents currently available to assist us.
We found the E-LOAN customer service representative that we spoke to over the phone to be professional and helpful. She informed us that we would have to call Lending Tree at 1-800-529-0362 to obtain more information about their services. E-LOAN has a good FAQ section that is located here: http://www.eloan.com/s/show/FAQs
Upside
- Awards and Recognitions
- Receive 4 competing offers with one application
- Additional resources and support available from the Lending Tree website
Downside
- Not a direct lender
- Forwarded to Lending Tree
- No weekend live support
- No rate listings
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