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Understanding the loan process
The loan process for every person is slightly different, and at E-LOAN we recognize
that every loan is unique. There is, however, a pattern to the loan process,
and you should know what to expect up front before you decide to apply.
Find out more
about E-LOAN's services.
The timing of your refinance will be affected by the introduction of
No Closing Cost loan offerings by lending sources.
Read about
some of the most popular reasons to refinance.
How does a 'no closing cost' loan work?
No closing cost loans can be used for either a refinance or a purchase transaction,
although they are most commonly associated with a refinance.
Learn how
to use this debt management strategy
What is a Good Faith Estimate?
A good faith estimate is a document that estimates the total costs to get a
loan when you are buying or refinancing a home. The good faith estimate details
costs the borrower incurs on all loan-related fees such as title insurance,
appraisal, broker and lender fees.
Learn more about
a "GFE".
When interest rates are low, does it make sense to pay some points?
Because points are really prepaid interest, you need to be sure you will keep
your loan long enough to recoup these costs through lower monthly mortgage payments.
Learn more about
points.
What is negative amortization and how does it occur? Most loans are
designed to amortize, i.e., reduce, to a zero balance by the end of their loan
term. Find out more
about negative amortization.
What causes my adjustable rate mortgage to adjust?
Your ARM is referenced to a particular index that changes.
Learn more about
different indices.
Debt management
E-LOAN believes you should treat your mortgage as an investment. For most of
us, the biggest portion of debt on our personal balance sheet is our home mortgage.
Learn how
to wisely manage your debt
Maximizing your buying power
Whether you are buying your first home or upgrading to a more expensive house,
there are strategies that can help you qualify for the home you really want.
Learn more about
wise loan purchase strategies.
Getting pre-approved for a purchase is critical in today's real estate
environment. Once your loan is approved, your actual loan closing will be quick
and easy.
Read more
about getting pre-approved and other loan purchase strategies.
Loan to Value considerations
The ratio of loan amount to the value of a property, or LTV, as it's commonly
called, is important for both purchase and refinance loans.
Learn more about
how LTV affects your loan.
Private Mortgage Insurance (PMI) is generally required when you have
less than 20% equity in your home. However, there are several ways to avoid
paying private mortgage insurance premiums.
Read more about mortgage
insurance.
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