Some Frequently Asked Questions

After I apply for a loan, what should I expect?

Once your loan application is received, whether you apply on-line or by mail, you will get notification from E-Loan that your loan is in process. Within several days you will receive a loan package in the U.S. mail with a set of loan documents for your signature. This mailing will also include a list of documents we will need to complete your loan approval.

Who do I contact for information once my loan is in process?

Once we have received your signed package and supporting documentation you will be assigned to a single customer service representative. If you have any questions prior to returning your loan documents, please call us at (888) 747-1112 between the hours of 7 am and 7pm Pacific Standard Time. Please note that our customer service specialists can not quote interest rates over the telephone due to state licensing requirements.

Who do I contact for general information and questions on using E-Loan's service?

If you have any inquiries prior to filing an application, please call (888) 356-2622 [ELOAN22] between the hours of 7 am and 7pm Pacific Standard Time. Please note that our customer service specialists can not quote interest rates over the telephone due to state licensing requirements.

How has E-Loan provided a secure environment for applying for a loan on-line?

E-Loan is very aware of the sensititive nature of loan application data. For this reason, we do not require account information on our on-line applications. There is ample time to obtain account details once your application is in process. We do however offer a secure server option for your application so that any information you send us over the Internet can not be read by someone intercepting the transmission.

Does E-Loan share client information with other companies?

E-Loan is committed to your right to privacy. For this reason we do not use cookies and we ask for the minimal information necessary to quote you products with accuracy. We do not share your personal data with anyone, unless you request us to do so. Once your application is in process you can be guaranteed that all client information will be protected so that you are the only person to view your data, along with only those individuals requiring the information to approve your loan.

Can I lock in a loan program and interest rate on-line?

Yes. For a full description of E-Loan's lock policy, please click here.

Can I apply for a purchase loan before I've found my property?

Yes, however due to current loan volumes, E-Loan is temporarily not accepting loan pre-approval applications . When you apply for a purchase pre-approval you simply assume a maximum purchase price, loan amount, and loan program. Once your loan has been approved you can change any of these variables to match the specifics of your purchase transaction. Please note that we can not lock in a loan until a property address has been specified.

On a purchase loan, is there someone who will work with my Realtor?

Yes. Since each loan is assigned to one customer service specialist who works with you until you close, he or she will be able to assist you or your Realtor at any time.

Can I get loan program rates over the phone?

Yes, if you select the pricing option which includes a loan agent. At any time during your loan process you can select to work with an agent if you require assistance in the selection of a mortgage product. Please note that the services of a loan agent are priced at a slightly higher rate than working without a loan agent.

How quickly will my loan be approved?

Once your application is received you can expect to receive an answer within three weeks. The processing of your loan will be related to how complete your application is and how rapidly you submit any required documents to your processor.

Is there a cost to submitting a loan application?

Please be assured that you will not incur any charges until you agree to do so. At this time we are covering the cost of a credit report upfront and you will only be charged once you actually close on a loan. An appraisal fee is required at time of inspection. If you select a no closing cost loan, these fees will be refunded at closing.

Copyright 1997 E-Loan Inc.
540 University Avenue, Palo Alto, CA 94301
All Rights Reserved

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