Frequently Asked Questions

Mortgage Questions

Who should I contact once my loan is in process?
Please contact the trusted service provider you were referred to directly for information concerning any and all loans in process. Detailed contact information for each provider can be found on their respective websites.

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Who do I contact for general information and questions on using E-LOAN's services?
If you have any inquiries, please call 1-888-533-5333.

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What kind of documentation will I need to provide for verification?
The actual documents you will need to provide will vary based on your situation.

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On a purchase loan, is there someone who will work with my Real Estate Agent?
Yes. Each loan is assigned to one trusted provider who will work with you until you close, he or she will be able to assist you or your Real Estate Agent at any time.

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Is there any cost to apply?
No! E-LOAN trusted providers do not require an up-front fee to submit an application and begin the loan process.

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Do I have to have an impound account?
Impound accounts are required by lenders in most states, particularly when the amount you are borrowing represents a large percentage of the property's market value. When an impound account is required by the lender, you can often waive the use of an impound account for the hazard/homeowner's insurance and property taxes for a fee. However, you will always have to prepay your mortgage insurance payments (if any) into an impound account. In most states, once you submit a loan application we can help you determine if you will need an impound account.

• You will need a mortgage insurance impound account if your loan-to-value ratio
  (loan amount divided by property value) is greater than or equal to 80%.

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What is my loan rate and when is it confirmed?
Interest rates fluctuate daily, so the rates available when you apply may be different than the rates available when you decide to lock your interest rate. By locking, you protect your selected rate for a stated period regardless of market fluctuation. Once your rate is locked, you will receive a lock confirmation stating the rate and terms that you have protected.

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Can I change my application after I've submitted it?
Yes. Changes can be made at any time until you lock your interest rate. However, be aware that any changes may delay the closing date or affect your loan costs.

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When can I lock my interest rate?
Your loan consultant will review your application and credit information in order to determine whether you can request a rate lock. Once they determine that you are eligible your loan consultant will contact you so that you can lock at your convenience. Please note that you must specify a property address in order to lock.

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When is the appraisal ordered?
E-LOAN recommends that an appraisal be ordered early in the process in order to avoid delays.

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How does E-LOAN protect my personal information?
Because privacy is of such concern to all consumers, E-LOAN takes stringent measures to protect your personal information. Once you submit your application it is encrypted for transmission and then stored with industry-leading security on the E-LOAN servers. Also, in order to ensure continued compliance with the E-LOAN privacy policy, independent auditors regularly review all internal processes and systems.

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What is hazard insurance?
Hazard insurance protects homeowners against property damage and is required by lenders before you buy or refinance a home. Hazard insurance shields you against property damages caused by a fire or a severe storm and should cover the cost of rebuilding your home. Generally, you have to confirm at closing that you've secured one year of hazard insurance coverage.

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What is pre-paid interest?
This amount represents the interest that accrues between the day your loan closes and the last day of that month, and is added to your closing costs. After this one-time prepayment your interest will be included in your regular monthly payments.

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What is the difference between the interest rate and the APR?
The interest rate is the cost to borrow the lender's money. The APR represents the total cost of the mortgage over the life of the loan, including closing costs and lender points.

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Auto Loan Questions

Who do I contact for general information and questions on vehicle loans advertised on eloan.com?
Please contact the trusted service provider you were referred to directly for information concerning any and all loans in process. Detailed contact information for each provider can be found on their respective websites.

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Who do I contact if I have questions about an existing E-LOAN auto loan?
If your loan was funded prior to 3/31/08, your loan is currently being serviced by either Citi Financial or Systems & Services Technologies (SST). Their contact information is as follows:

Citi Financial: 1-800-486-1750*

Systems & Services Technologies: 1-800-789-8001*

*Their automated system is available 24 hours a day

FOR TITLE QUESTIONS RELATED TO YOUR EXISTING E-LOAN AUTO LOAN, PLEASE CALL 1-888-324-4964

If your loan was funded after 3/31/08, please contact the trusted service provider you were initially referred to for any questions you have regarding your auto loan.

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International Questions

I live in the U.S. but I would like to purchase a property in another country. Can I get a mortgage through E-LOAN on a foreign property?
In order for a consumer to apply for a mortgage on a foreign property, you must apply through a bank, broker or financial institution offering mortgages in that particular country. You cannot apply for a foreign mortgage (non-U.S.) at the E-LOAN website in the United States.

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Can I use foreign currency to pay a mortgage on a U.S. property?
No. At this time U.S. lenders do not accept foreign currency as payment for your mortgage (on a U.S. property). If you only have foreign currency and need to use it to make a mortgage payment (on a U.S. property), go to your local bank and convert your foreign currency to U.S. dollars to pay your mortgage.

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I already applied for a mortgage through E-LOAN in the U.S. and now want to apply for a mortgage in a foreign country. Can you use my old application or do I need to re-apply?
Currently, mortgage applications differ from country to country so you would need to re-apply. When you do apply for a foreign mortgage, it will be helpful to have a copy of your recent mortgage application available as a reference.

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