E-Loan

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