eRates Mortgage is a direct lender that has been delivering consistently optimal rates and customer service for their consumers for over twenty years. With a simplified mortgage process and utter transparency takes away the hassle that most mortgage lenders just can’t afford to offer you. We all know that it’s not one-size-fits-all when it comes to mortgages; everyone differs with their lifestyle and finances which is why eRates offers loan types including Purchase, Refinance, Conventional, Jumbo, FHA, and VA loans with no upfront lender fees attached.
Now, as soon as you get on eRates Mortgage online page, you’ll be confronted with what seems like a below-the-times site, however, I urge all of you to not be dissuaded by this. I must mention that their 30 Years Conventional Fixed Rate is record low with pre-approvals leading you to the best option for your situation. Just fill out the survey on the side to get started. Once you are finished, click “Get a quote.” There’s no commitment with your pre-approval process, so be sure to give it some though before sticking your foot into it.
eRates Mortgage offers you limited cost options and the ability to close right in your own home with a majority of their loans closed within just 35 days or less. As long as you’re patient with the process, the mortgage process should go smooth. It’s worth noting that you shouldn’t necessarily assume the loan you will be getting since you will more than likely be paired with a loan that you are most compatible with from their survey.
eRates Mortgage Summary:
- Apply Now
- Account Type: Fixed, ARMs, FHA, VA, Jumbo
- Availability: Nationwide
- Expiration Date: None
- Additional Advise: Have the necessary documents and validation information ready to make your process as smooth as possible.
- Closing Loan: 35 days or less
eRates Mortgage Features:
- Fixed, ARMs, FHA, VA, Jumbo, Renovation available.
- Limited cost options and the ability to close right in your own home!
- No application fees
- eRates has ability to sell loans directly to Fannie Mae
eRates Mortgage Basic Requirements:
- Credit Score (at least 620 Credit Score and ability to make at least 5% down payment on your purchase price.)
- Household income
- Job History
- Down Payment amount
- Pay Stubs covering the customer’s most recent two pay periods for each applicant.
- W-2 Forms for the previous two years.
- Two most recent years’ federal tax returns (e.g. for a loan in 2015, the customer need to submit the customer’s 2014 and 2013 federal tax returns). All the pages and all schedules.
- If the customer is self-employed, the two most recent years’ business tax returns are also needed.
- For self–employed or investment income, the two most recent years’ 1099’s and K-1 forms are also needed
- For self–employed business income,year-to-date profit and loss statement and balance sheet.
- For retired customers, copy of Social Security and/or Pension “award letters” detailing the amount of retirement income.
- Two most recent months’ bank statements. All of the pages.
- Homeowner’s Insurance statement(s) for all properties owned showing the customer’s coverage and the annual premium.
- Mortgage statements for all properties owned that have liens.
- Copy of driver’s license or State I.D.card for all customers.
- If divorced, the customer’s fully executed divorce decree.
If you’re in the market for a mortgage loan without the hassle that tags along with the process, then eRates Mortgage may be something for you to consider. With a variety of loan types to choose from: Fixed, ARMs, FHA, VA, Jumbo, Renovation, you’ll be able to pick the most optimal, better yet, suitable loan for your financial lifestyle. With eRates ability to sell loans directly to Fannie Mae, you should expect lower rates, especially record lows on their 30 year fixed. You can proceed by applying now and talking to a loan officer, otherwise be sure to check out our Best Mortgage Rates for all of your mortgage needs!
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