E-Loan

Pros: Fast response time; Competitive rates
Cons: Many restrictions on certain loans

E-loan.com is an on- line resource for those who are in need of funds for any number of personal uses. This company, headquartered in Pleasanton, California, specializes in helping people obtain loans, including those with strong credit records and those ...

Pros: Fast service, good loan rate
Cons: None that I had

Well, not really, but they did save me some money. I love my credit union - it has good checking rates, and I have always had good auto loan experiences. When I applied for a home equity loan, though, the credit union took literally months to get ...

I applied for a home equity loan with E-Loan early in September. I have 100% of equity in my home (no mortgage), no other loans, small credit card debt, but I do have quite a bit of old debt from a prolonged period of unemployment, which was the purpose ...

Pros: Easy and fast application process, fast money
Cons: they take the ball and RUN

Okay - heres the story:

Yesterday I am driving along and listening to all the car ads on the radio and it strikes me that tomorrow (today) is the last day of the month and this is the end of the model year, so it would be a REALLY great day to...

I have had a wonderful experience with E-Loan's Online Store, but I have never applied for a loan. Instead, I have used their monthly credit score monitoring service, which has helped me understand how to boost my credit score at least 14 points in the ...

Pros: Theoretically quick, Many loan types, Get a quick feel for rates
Cons: Loan products actually not very competitive, Customer service is abysmal, Commissions more or less hidden

The concept of E-loan is appealing. You've got good credit, you know what you want and you want it quickly. Why should I pay some loan officer a bunch of bucks to do a monkey's job? Unfortunately the implementation falls apart. You still appear to ...

Pros: Easy to use website
Cons: bait and switch tactics; dangerously bad customer service

Given the recent (early November 2002) drop in interest rates, we decided to shop around to see whether refinancing our mortgage made sense. After looking at various online sources and getting quotes, we knew it was time to refinance. We had used a...

Pros: Great rates, fast service, nice site
Cons: Perhaps too fast

Although I admit that some of it may have been luck I had an amazingly positive experience with E-Loan.

I ran across E-Loan when researching a car on one of the car web sites. I was so preoccupied with trying to figure out which car to get...

Pros: Very quick, good rates, cheap and easy closing, online loan status was really cool
Cons: sometimes had to tell the agent things twice, but usually she was very responsive

We just closed on our house which we mortgaged through e-loan and had a great experience. The total time from our application submittal to closing was 20 days.

We submitted our application on a Saturday morning. As soon as it was submitted, I...

Pros: Fast response, easy website
Cons: Deceptive advertising, high fees

Six months after completing an online application with E-loan,
I still despise this company. Oh, we were approved, and the
rate was quite good--but we walked away from their deceptive
marketing practices.

At the time, E-loan was...

Pros: easy application process, no hassle verifications, check at your doorstep next day.
Cons: dealers may not want to take the check. beware of dealers in this case.

I found e-loans by surfing the net while searching for ways to finance a car purchase. I was somewhat skeptical at the ads and kept wondering where the catch was. I can honestly say there was none. I have good credit (not stellar credit), but I find ...

I'm not sure I can put into words the frustration I have experienced with my first and last e-loan experience. Everything started out fairly smoothly, but it quickly went bad, very bad. I had purchased a car out of state when I decided to use e-loan ...

I was in the market for an auto loan and after some research, decided to apply at capital one and e-loan. Both have a 15 minute reply and similar rates. I applied at both places hoping to get the best deal on my loan. I have a high credit score and ...

We used them to finance our first home purchase and had a good experience choosing the loan we wanted. We hired a real estate agent to help us look for a house, but he complained a lot about how E-Loan wasn't cooperating with him, and that he had to do a ...

Pros: Can search rates on web site, fast processing, good service
Cons: Rates change hourly, didn't get the rate I expected

Working full time, I found this to be a very helpful way to get a loan. I could do almost all the loan work on evenings and weekends.

If you see a rate you like, you will miss it unless you have already gone through their application...

Pros: Fast decision
Cons: Lots of pitfalls

My wife and I decided to buy a new car as she had just started a new job and needed reliable transport. I checked around and found that the 7.35% rate from E-Loan for up to six years was the best there was and I applied for a loan.
I tried to use...

I submitted an auto loan application with Eloan on-line. They processed and approved me in 16min. As I applied at midnight, the following business day I received a call from a customer service rep. Explained the interest rate, which was high and she ...

I cannot begin to put my frustration with ELOAN into words. Their lack of customer service is just the beginning. They lie, switch rates, and essentially keep you worried about your money- is it still there? can I actually access my money? Please ...

Pros: Online Application
Cons: Poor Customer Service, Deceptive Business Practices, Pre-Approval Process Is a total Lie, ETC.....

I filed for Bankruptcy a few years ago so getting a mortgage isn't as easy as it should be. I've re-established my credit and have a credit score near 700. I had one broker tell me that my report looks like a normal healthy report, without looking at...

I went to E-Loan for a pre-approval for a mortgage on my first home. Within a few seconds after submitting the application online, I was pre-approved. In less than five minutes, I was contacted by a loan consultant. After some suggestions from others, I ...

E-loan is a total joke! I went online filled out an application. Everything looked good! I rec'd a package from them in the mail. Signed everything, and sent it back to them. I hadnt heard from them so I called. I was told that i should hear something ...

Lured by the good rates, I opened a savings account with e-loan in early November and deposited an initial sum well over their minimum limit to see how it would go. How it has been is a NIGHTMARE with many hours spent trying to correct their mistakes ...

Pros: Ease of use / Loan Options visible up front / Customer Service
Cons: Lack of face to face

I read through the reviews prior to using E-Loan and wanted to share my experience. The whole proce ...

Pros: Lowest lender fees - pay for appraisal only. Ability to check loan status online.
Cons: Okay customer service. Unfamiliarity by local realtors and escrow/title companies may cause delays.

I recently closed successfully with Eloan few days ago. My realtor expressed some apphrension about working with somebody outside of town. Nevertheless, after going thru their website and comparing the (lowballed) GFE's from local lenders, I was...

Pros: Competitive rates
Cons: Poor customer service, QA issues, they screw up lots, Don't do what they promise

We filed for this loan because they had a competitive interest rate, and claimed that we would be able to get our loan quickly. While the interest rate doesn't appear to be that bad the speed is slower than molasses in winter. This isn't just due to a ...

Pros: Easy, non-intimidating way to get a loan
Cons: Confusing, intimidating letters 5 months later

My experience with buying a car via E-loan was relatively pleasant. I had tried to get one from PeopleFirst and even with perfect credit, I got rejected flat out (presumably because I was asking for too large a loan in relation to my salary). So, I tried...

I placed a joint application with my wife for a $18,000.00 auto loan. 5.5% advertisement was very attractive. Carefully entered information as required, with a few confusing questions at the end. Submission was completed, and in about 10 minutes an agent ...

Pros: Quick initial callback, good followup, decent rates
Cons: long process to closing, constant call backs for info

Heard all the commercials about "close within 5 days", yada, yada, yada. ELoan was quick to call me after I submitted an on-line application (within 1 day I was called back). I made sure I was quick to get back any information they had requested...

Pros: Centralized source of info, fast, anonymous quotes, no annoying salespeople calling you all the time
Cons: Rates are not great--be sure to shop around

I'm not sure E-Loan can give the best rates. I want to warn fellow users to be sure to shop around, even when using the "best" online mortgage broker out there.

When you log on to www.gomez.com, you find that E-Loan is the top-rated...

Pros: Very fast response
Cons: Mortgage Rate Guarantee is a bunch of crap!

I love E-Loan and I hate E-Loan. I purchased a car in January 2000 and used E-Loan to write the note. It was a very easy process, very fast, and they had super competitive rates. However, I just filled out the paperwork to refinance my house. I...

Pros: Great rates. Low cost. The new, more efficient market.
Cons: Terrible customer service.

There is a wonderful trend in the evolution of the electronic brokerages---and that is to create efficiencies in the market that were, at best, a dream just a few years earlier. Before the advent of the e-brokers, the best an average home buyer could do...

Pros: none that I can see at this point
Cons: e-loan is trying to break the contract

I realize this is a very long message, but if you are considering going thru e-loan, please read this.
My fiancee and I were trying to buy him a new truck, so after much research we tried e-loan. At first it seemed great, we were approved within...

Pros: easy to apply
Cons: none

Hi All...

Well....e-loan came thru for me again. About 9 months ago I was purchasing a new car and applied thru both my local banker and thru
e-loan. I was approved by e-loan quicker than I was by my local banker
and with less...

Pros: Fast Check, free loan % rate
Cons: none

I really enjoyed the new way to apply online at E-LOAN, it made it so simple to buy a new car.

First i found a car about the price range i wanted, and submitted a application through E-loan. I was looking for 16,500.00 but they gave me...

Pros: Convenient, fast, no hidden fees
Cons: They only accept A credit

Eloan is a very convenient way to get a mortgage loan. They make the home buying process a lot easier and a lot more stress free. You can review rates on their web site, view all of the closing costs, and there are no hidden fees. You can apply right...

Pros: The first person I spoke with seemed affable, reassuring, and out-of-town.
Cons: Second person seemed diffident, dodgy, which seems to counter the affability. Service?

In late June I arranged for an eloan and all the required papers and data was in their hands by the last week in July. My special contact there told me that I should expect the completion of the process by the first few days of August after I called ...

We were looking to refinance our car and came across e-loan. I sent in the app and within an hour it said we were approved and that someone would be calling us to confirm everything, easy so far!I received several calls on my cell phone during work but ...

I was looking to get pre-approval for a home purchase. The experience left a bad-taste in the mouth, and I am dropping them from my list of trustworthy businesses. First, there was very little 'e' in e-loan. On their web-site, I filled out a detailed ...

I was getting close to closing on my first real estate investment property and was given a last minute payoff statement from one of the mortgage holders which had a significant amount of unexpected debt. Since this was a foreclosure I had a deadline to ...

Pros: Good rates
Cons: Very poor customer service Poor internal processes that caused customer frustration

I was originally notified about the great e-loan rates through an airline promotion (via my frequent flier program). I checked out the rates and saw the promises of near real-time turn around for processing and approval.

While the rates are...

Pros: Saved over $3k in bogus Charges, Smooth and Excellent Customer Service
Cons: Of Course, your credit history as to be very good.

I was searching for Mortgage companies with suggestions from my Realtors and relatives. When I started receiving Good Faith Estimates(Always First Demand Good Faith Estimates Before You Start With Any Loan Co.), I couldn't believe the charges. Watch...

Pros: online is the future of mortgage brokering
Cons: e-loan behaves badly

In 1997, I tried refinancing through e-loan. First, I learned the hard way that the teaser rates they show on their web site weren't available. By the time I could actually lock in an interest rate, I was more than a point above what I expected. The...

Pros: NONE
Cons: AWFUL SERVICE

I can't say enough unkind words to express my experience with E-Loan. While they purport to have a brilliant and easy service, the fact is they are very disorganized and ignorant to customer service. They did a number of things wrong with regard to my...

Pros: fast service, great rate, helpful customer service
Cons: the dealer found the process confusing

I financed my most recent automobile through e-loan and had a perfectly wonderful time going through the system.
I researched rates with the dealership, my bank, my credit union, and other online sources and couldn't do better than e-loan. I filled...

Pros: At least I didn't have to pay anything!
Cons: Lack of disclosure can lead to a lot of wasted time.

You have a property zoned as agricultural. My wife & I built a home & garage on 3 acres in Florida (appraised at $450K with a $330K first mortgage) in a developed area. We needed a second mortgage to tie up some construction cost over runs. Incidentally, ...

I have about $100,000 I want to put in a money market account until we are ready to buy a new house within the next 12 months. So I check the rates on bankrate.com and there is e-loan advertising 5.50%! Wow - on to their site and applying for an account. ...

Pros: none
Cons: too many to list in 15 words!

This is the text of our BBB complaint on eloan.com. On October 4, 2004 we applied for a home equity loan with e-loan.com. We were assigned a loan representative, Nathan Crowder, and we began providing him with all the documentation required. On ...

Pros: Good rate, fast service and good service before loan
Cons: Horrible service after loan, lack of documents & inaccurate account balance

We shopped around for a home equity loan/home equity line of credit. Eloan did not have the best rate originally, but they could give me the lowest rate in the end. They had great customer service before I signed the paper. I signed my paper in 2 ...

After applying online for a vehicle loan I got a call within five minutes saying my loan was approved and quoting a rate. Unfortunately I had already been quoted a better rate elsewhere, so the customer service representative said thank you for trying ...

Pros: easy to use website, 24 hour access to loan status
Cons: incredibly bad customer service, very slow to respond, missed rate lockin

I recently attempted to refinance my mortgage with eloan. The application process was quick and relatively painless and the quoted rate was good.

Unfortunately, thats when the trouble started. They didn't call me back despite numerous calls...

Pros: None
Cons: Everything - they retracted our so-called "pre-approval" after we bid on a house.

My husband and I applied for a home loan and were pre-approved for the amount we requested. My credit is good, but he doesn't have the best credit and we are working our way up. Since we were pre-approved, we went ahead and put earnest money on the...

Pros: They really try to get ahold of you.
Cons: Will the phone EVER stop ringing?

My parents are looking at getting a loan from ELoan. I don't know any details about it, but I can surely say that the people are annoying. They called six times last night (Sunday!) between 6:30 and 8:00. This morning, they called TWELVE TIMES, begin ...

Pros: Online access to accounts
Cons: Bait and Switch Tactics regarding fico's. Unsatisfactory level of customer service.

My advise, plain and simple.
Avoid the middle man, and go directly to the lender who will service your loan. You can save 1 to 2 points by going directly to a lender who will service your loan (ex: Wells Fargo). Although E-Loan indicates a fast...

Pros: Fast approval, Web site easy to use
Cons: Rates not great, Out of State Purchase a Nightmare, Awful Customer Service

AWFUL experience with out of state car purchase. Eloan daily changed what we needed to do to have our loan funded and for 2 weeks, we jumped throw their hoops. But after we did everything they asked, they decided that they would not fund the loan until...

Pros: Looks Like A Good Deal
Cons: It's NOT A Good Deal

I just completed a refinance with E-Loan and It was the most stressful loan experience I ever had. They make it look easy on their web site, but it's not. Customer service is non-existant and their online loan tracking
"etrack" is a joke. It...

I used eloan for a car loan and was pleased that I didn't have to deal with the bank and I got a good rate. HOWEVER, when I returned to do a cash-out refinanace of my house it was a different story. Things went fairly smoothly during the application ...

Pros: Good Rates, could use as leverage to get a better rate out of the dealer.
Cons: Slow to get a check unless you can electronically fund your loan.

We used eloan to buy a used Honda CR-V. Great rate (I got 6.14%). the biggest problem was that it took a while to get the check. It took about a week from the time they received the documents until the check finally showed up at the dealership. I...

Pros: None that I found
Cons: Complete mess. undereducated consultants

E-loan consultants are extremely uneducated about the loan process and were completely lost as how to calculate gross wages from a salaried paycheck to send to underwriting. I went through the eloan process and after numerous attempts to explain to ...

During my application for a home loan, I experienced about 20 instances of horrible customer service with E-Loan. Just a few examples include telling me that they do not answer questions by e-mail because they prefer the phone (they don't know that the company is called E-Loan?), 2 loan consultants telling me that a certain loan is not available for new home purchases but 2 other loan consultants telling me that it is available, reasigning my application to a different loan consultant every other week and the new consultant then asking to resubmit all the information and documentation because "the other guy does not work here anymore and we cannot access the information", etc etc. To top it all off, today I received an e-mail from the current loan consultant telling me that he is "putting a stop" to my asking questions because I have asked enough now and they do not want to provide any further information.

Draw your own conclusions.

Great site and within minutes someone called me to confirm and got an approval immediately. No commissioned sales people pushing me into something that was better for them but not for me

WONDERFUL experience with a HELOC. I just came off of a bad experience with Ditech - they said I was "pre-approved" for a home equity loan, but at the very last step of the underwriting process turned me down. My loan officer at E-Loan kept me up to date via email every step of the way - even emailed me from home on a Sunday. No one had to come to my house for an appraisal - they just looked up the value online (which was WAY more than I expected it to be). I applied on Tuesday the 21st (Thanksgiving week), and after going over my options with my loan officer everything started rolling. The underwriting was pretty much automatic - took only hours. I signed the final documents at my house yesterday (the 30th) with a notary that came to my home. I expect to get my money on Monday the 4th. That's just nine business days - including a holiday week!!

The process of starting a money market account with E-Loan was straightforward and I was pleased that it all took place online. No faxes etc. There was a recent mix up in which a deposit was duplicated, but they fixed it and offered to pay any fees I incurred. The bottom line is that they pay more interest for a MMA than almost everyone else in the country.

Pros: Very fast - recklessly fast.
Cons: Employees who are clueless and unwilling to help.

I applied for a loan - I have stellar credit (average score of high 700s) but somehow they got information from Equifax that my score was considerably lower. I offered to fax them a copy of my credit report from 5 minutes after they did their check but they refused - Wayne Gee (the powerless rep) did absolutely nothing but send me the loan documents which made it directly to my shredder.

I got a loan at a lower rate than they advertised by a company that manages to get ACCURATE reports.

Their loss.

Pros: easy application
Cons: see above!

We were lured into eloan because of their highly advertised 4.65% auto rates. My husband has perfect credit, the highest on the scale, and we filled out the form to apply for an auto loan. Eloan took forever getting back to my husband. They were supposed to contact him within 24 hours, but it took several days for HIM to call THEM. When he finally got ahold of them, they gave him a 6% rate. This isn't bad, of course, but we can get way better rates through our bank and now we have a mark on our credit report because of eloan's false advertisement. Maybe they work for people with bad credit, but people with great credit should shop elsewhere.

This has been a very frustrating and disappointing process. The most basic communications, in particular dates, were inaccurate time and time again. I do not believe the person I dealt with was very knowledgeable about the process. Nor do I feel that he was very responsive. I was not given even the most basic of explanation at several points in the process.

Also, there was little to no time for us to review paperwork as we were getting it the same day the notary came for us to sign it. And paperwork sent to us was inconsistent and inaccurate.

The web based tracking of our loan was also not very helpful as I was locked out of the site much of the time.

I don't know if they are deceptive or just incompetent but I would not recommend E-Loan to anyone else.

I have done two car loans through E-Loan, and both times financing through the dealer was able to beat the interest rate by 1 to 2 percent.

I have excellent credit (750+), but could never get the lowest rate e-loan claims to provide.

All aspects of dealing with them (application, receipt of check) were quick and easy, but for my next car purchase I'm not going to bother - I liked the idea of walking in as a cash customer but it has not proven to be worthwhile.

I was approved for a car loan with E-Loan, and had my "Power Check" sent to me overnight. I was happy - my credit is only fair yet I got a pretty good rate. I went out shopping the next day for a car. It turned out that their "Power Check" wasn't worth the paper it was printed on because no one would take it. Every dealer had the same complaint - E-Loan taking up to FIVE MONTHS to honor their own check. According to Toyota, the dealer is forced to go back on forth sending and re-sending the documentation required from E-Loan. I called E-Loan from the dealer, and they told me that the dealer was only playing games, trying to get me to sign up for their financing instead. This was just untrue - I was told they would accept a check from ANYONE else, but not E-Loan. I ended up, after having this happen twice in a row at 2 different car dealers, borrowing the money from my family. E-Loan sent me on a wild goose chase - their checks are worthless as far as buying a car is concerned.

I signed up for their online Savings account several months ago. There site is constantly down! They have scheduled maintenance from 9pm - 12am PT but it's often down way passed 12am. I often do my finances late in the evening where I need to transfer money in and out...AND THEIR SITE IS DOWN ALL THE TIME! I often find something else to do and wait a couple hours and it's still down.

Completely unacceptable. Find a more reliable online bank. The whole point of the internet is 24/7 service... This is like a web-enabled brick and mortar bank that opens 9-5.

After reading other people's stories, I realized that I'm not alone.

I haven't been able to access my account for a month and a half now. And when you call customer service, they will tell you that it's the IT department. They will contact IT and get it fixed ASAP. But nothing ever happened. I called, emailed....

I'm trying to close my account now. Let's see how long it will take...

DON'T USE ELOAN ONLINE SAVING!!!!!

Pros: Abosolutely None
Cons: Everything

I filled out an application for a car loan, only $10,000 with a Fico score of 800 and was turned down. No biggie, lots of places will take my business, but the gentlemen from ELoan who called me was very rude! He asked what I was going to do with the car, why I wanted the car since I already had one, and who was the person talking in the background and what were they saying!! NONE of that was his business, if I wanted to give the car to charity it is still none of his business as long as I'm paying for it and who is in my house talking in the background and what they are saying is also none of his business (my child). I am so furious but don't know who to contact!

Pros: There are none.
Cons: The entire process is too wordy, unreadable material, inaccurate accounting, unreliable for purpose.

I would highly suggest going elsewhere if you wish to obtain a home equity loan. We contacted eLoan, they had advertised a low interest rate..bait and switch is what I call it. They did some song and dance about my credit being great but my spouses wasn't so our interest rate would be slightly higher. I didn't understand this. After being married 26 years, I think our credit is equal. The paperwork was awful! Stacks of forms that were so blurry that we couldn't read them, yet they wanted us to sign them. The numbers didn't add up either. We were told to go ahead and sign and they would fix the numbers later. WHY should I sign a messed up contract? We ended up going to a local bank, with a decent interest rate with people WITH faces that live in our community. They did right by us. Bottom line...beware of eLoan, your home is at stake!

Pros: none
Cons: Using e-loan results in numerous telephone solicitation calls at home.

We used e-loan to check on refinancing our home more than a year and a half ago. We actually did refinance about 16 months ago. But to this day we're still receiving unsolicited phone calls at home asking if we still want to refinance. Apparently lenders check e-loan to see who is requiring about refinancing and call those people. I must have taken at least 50 calls at home asking if I still want to refinance. We're on the national do-not-call list, but because we approached e-loan first we're fair game for all the solicitation calls. It's, frankly, a pain. I wish we'd never used e-loan.

I invested in a 12 month CD at E-Loan, and they advertised an APY of 5.70%, but when they made payment upon maturity, they shorted me one day interest which reduced the APY and then they made all sorts of excuses to try and cover their underhanded scheme. I wonder how many hundreds or thousands of other investors have been similarily cheated and don't even know it.

Applied online via eBay for a loan from E-Loan for a car I was considering bidding on. E-Loan forwarded the loan request to RoadLoans.com which sent me a disapproval email the following day, citing "application incomplete / unable to evaluate applicant(s)." I couldn't understand the response since I completed all the information on the E-Loan application. (After all it was online and failing to fill in a required value was impossible!) I've also received my credit report from all 3 major reporting agencies, so I know that an inquiry based on my name and SSN would have produced the data needed for a loan decision.

So, I decide to call the number provided in the email. After navigating through their automated system, I finally reached a human. She told me to call a second number. I called it and quickly talked to a person who gave me a third number. On the third system, it was not possible to get to an agent without an account number. I did not have one because I wasn't granted credit!

Customer service is only available during business hours. Representatives sound indifferent and unprofessional. I really worry that my money will disappear one day and no one will be responsible.

Pros: Don't have to wait long for a rejection.
Cons: False advertising of minimum FICO requirements for mortgage.

The ELOAN Loan Advisor software allows the user to enter a FICO credit score and retrieve a list of loans available. This is just a trick to get you to apply for a loan so they can have access to your personal and financial information. After applying for the loan, you may find that many (or all) of the loans listed are NOT available because of their true unadvertised minimum FICO score of 700. If your score is 699, too bad, even if they listed two dozen loans that would be available to you before applying. Beware of applying because the credit request is reported on your credit report and too many requests can be damaging.

Pros: fast, friendly service
Cons: None that I discovered

I went through E-Loan for an auto loan. Within hours I had been approved. It took about a week to finish all the paperwork. I'd definitely use them again.

I used E-Loan to by a used car from a private party and it has been a real hassle. First let me say that the application process was easy and the people there very helpful, but their requirements are just crazy and make it next to impossible to use them for a private party sale.

For example, in order to actually honor the check, they want a copy of the title showing a transfer of ownership to me and the lady I am buying from is like no way in hell am I signing over this title until I have my money. The way e-loan requires that the transaction be done really puts either party at great risk: either she would have to sign over the car to me with the promise of e-loan's payment, or I am at risk because I gave her the check and we have to wait for it to clear before she will give me the car. I know this is confusing, but it has been kind of a mini nightmare trying to actually get this to happen. I recommend using a regular bank and getting a cashier's check.

I am writing to express my dissatisfaction with E-Loan's auto loan process. My husband and I noticed the great rates and hassle free process advertised on your website and decided to apply. The lowest rate was advertised at 6.25%. Since we both have above average credit scores, we assumed we would qualify for, if not the best rate, one that is highly competitive. However, much to our dismay, we were approved at an 8.75% rate and were able to "talk the rate down" to 8.5%. A day later, we were financed by the CAR DEALER at 6.65% (without a special dealer incentive or any related offer).

It's not so much the rate that angers us - it is the process. The website advertises incredibly low rates and then they turn around and offer someone with excellent credit a rate two points higher than the rate they are advertising. That is deceptive and, frankly, an unacceptable customer service philosophy.

We wanted to make you aware of this issue, because we will certainly never try E-Loan again, and will strongly advise our friends and family as to the same.

I tried to refinance through Eloans. The entire process took 2 months and unprofessional appraiser coming into my home. Not to mention providing timely information to them upon their request to sit and wait for weeks to find out the status of the loan. I had a horrible experience with this company and would never recommend them to anyone. I feel as though my loan originator was trying to pull the package together but it seemed she kept submitting inaccurate information or insufficient if i didn't stay on top of her. Then she told me she was going to her supervisor on some things which lead me down a completely different path that ended up the loan being withdrawn. Very disappointing experience and one i would not recommend.

The process was fast and simple - I got approved about 15 min after hitting Submit button on the application. The offered rate was best I could find. The only problem I was that UPS lost my overnight check (it disappeared halfway between California and Ohio), it is hard to blame e-loan for it however, they send me a new check immediately.

My credit has suffered (not a lot, I saw my score/report) due to some money I borrowed on credit cards. But I have never been late making a payment ever. So my score is still reasonably good.

Eloan grabbed this opportunity to offer my an Auto loan at 11%, more than some credit cards I have. This is on a loan backed by a 2003 Toyota Collateral which retains its resale value, and is not unsecured.

They don't have branches, or personnel, and offered me a rate more miserable than my banks.

I will never ever do business again with E-Loan.

Pros: Web site and application process was easy
Cons: Could not get clear answers. Seemed like my loan was their first.

I used e-loan for a HELOC, and the experience was awful. Over 90 days from application to closing!

My "consultant" was OK, but the process was poor. Ultimately, to close I had to pay an unexpected $2,000 fee for a title search.

I made an "executive complaint" after closing, but never heard back from anyone. I would never use this "service" again.

Pros: easy to use website, speed of approval and speed of check delivery
Cons: I had absolutely NO problems. It was so easy.

I used eloan for financing part of the last car I bought. I applied online and received a call back within 5 minutes! I received a check the next morning and bought the car that weekend. It was so easy and painless. I would definitely recommend using eloan for a car purchase. The dealers didn't mess around with prices because I told them I already had financing in place and didn't need their 12% loan! I think it helped us to get a better deal. Easy on us and the dealer. I was skeptical at first but not anymore! Definitely worth it!!!!!!!!

Pros: The Pro is that they may eventually go out of business
Cons: The cons are many...read the review.

I have purchased 5 homes in the last 10 years and have always had good experiences with other lenders. Then came e-loan. Without doubt this has been the worst experience I have had with any lenders.
I have in the last two days had both my title company and my insurance company tell me (without me prompting them) how bad their experience has been as well. When the insurance company told e-loan they needed to get an elevation certificate for the flood insurance, e-loan told them we didn't need it as they looked at the pictures of the home and it wasn't elevated.
I was told I was good for an 80/20 loan on a home and less then 24 hours before the loan closed I got a call to say that we were not eligible. We lost that home.
It only gets worse from there.
Pretty strong words but honeslty, these people were incompetent.

E-Loan begins calling on the 2nd day your loan is not paid.  They will call 3-4 times a day !!!  I have NEVER had a creditor use such poor techinques especially when you're supposed to have that so called "grace period". I have had the account for 3 years and have never had a late payment or late fee on my account.
According to them, if it is not recieved by the 1st, you're late and they start calling on the 2nd.  It does not matter if you tell them it has already been made.  They WILL CALL until it post to THEIR account.   I would never recommend E-Loan aka: "CLC Consumer" to anyone for anything!!!!!

I applied for an auto loan and was turned down for "insufficient auto credit" So even though I have a mortgage, two credit cards and a 700+ score, and income of $7000+/month, because I chose to pay cash for my last two cars they are refusing me. The worst is that now my credit score is lowered simply by their checking it.

Pros: Quick, easy
Cons: They'll try to rip you off...

I got a second mortgage through e-loans. I made a payment to e-loans. They sold it a short while later and my interest payment disappeared. After talking to a slick customer service agent multiple times -- "Oh yes, I see the discrepancy, I need to talk to..." nothing ever happened -- until I finally contacted the BBB.

I just completed an online loan application with Eloan.com
I read each and every disclosure. I got to the radio button where I allow my application to be shared with third party lenders, which is quote unquote(recommended).
The explanation given for this field is essentially that your information could be sent to a third party.

What they DO NOT mention is that checking this box essentially
allows eloan.com to pull a bait and switch with one of their partners. I essentially applied for a loan which I do not get to see the terms by checking that box. End result.. I've now applied for a loan I would never knowingly apply for, and my credit has been run.
Anyone work for the State Attorney General's office reading this?
I'm in NJ