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My question wasn’t answered here.
How can I contact eHomeCredit? top of page |
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You can reach us by phone in our offices
between 9:00am and 5:00pm EST, Monday through Friday at 1-877-346-6327 |
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Is eHomeCredit entirely an electronic
firm? top of page |
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eHomeCredit is a brick and mortar company
which has diversified to an electronic format to better service the needs
of it’s customers. The parent company of eHomeCredit, eHomeCredit Corp.,
has closed over 3 billion dollars of home loans. eHomeCredit is a licensed
lender in 40 states. |
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Who is eHomeCredit? top
of page |
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eHomeCredit is a mortgage banker
which is licensed in over 40 states. This means that we
also act as the broker which helps us lower your costs by eliminating the
middle man. As mortgage bankers, we are able to offer the most competitive
rates in the industry. We customize loans specifically to fit your needs
and offer both conforming and non-conforming loans. |
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How much of a downpayment do I
need? top of page |
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There is no set amount you need to put down.
There are conforming programs that require as little as 3% down or non-conforming
programs that require no downpayment at all. The amount you put down could
affect your interest rate. |
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What if I do not have any established
credit? top of page |
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eHomeCredit will work with you to obtain
alternative credit such as using rental histories, utility bills and phone
bills as reference. We will find a loan for you based on the information
you are able to provide. |
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What if I had past credit problems
like a bankruptcy or foreclosure? top of page |
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Past credit problems do affect the amount
of money you can borrow. If you have re-established your credit after a
bankruptcy or foreclosure, you can qualify for a conforming loan or a non-conforming
loan. If your bankruptcy has been recently discharged, eHomeCredit has a
program to fit your needs. |
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How much of a loan can I qualify
for? top of page |
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The amount of money you can borrow is dependent
on the your income, assets, debts and credit history. To help you determine
the approximate amount you can borrow, please call our qualified mortgage loan
professionals. |
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Can I lock in a program and interest
rate online? top of page |
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Yes. You can request a rate lock after you
have returned your package to eHomeCredit and we have reviewed your documentation
and credit information. We will notify you via e-mail or telephone when
you are able to request a lock. |
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How quickly will my
loan be approved? top of page |
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You will receive a response from eHomeCredit
immediately after your application is submitted. Once your application is
received, you can expect to receive an answer within 24 hours. The time
required to process your application will be related to the completeness
of your application. |
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What is the cost to
submit a loan application? top of page |
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Absolutely free to you, of
course, you will be responsible for paying the loan processing and closing
costs and any other fees to eHomeCredit at the time of closing. |
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After I am approved for a loan
what should I expect? top of page |
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Once your loan application is
approved, you will get notification
from eHomeCredit that your loan is processing. Within 2 business days you
will receive a loan package via U.S. mail with a set of loan documents for
your signature. This mailing will also include a list of documents we will
need to complete your loan. |
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What kind of documentation
will I need to provide to eHomeCredit for verification?
top of page |
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There is no single list of documents needed
for all applicants but you should be prepared to provide copies of bank
statements, W-2's or any other pertinent document necessary to eHomeCredit.
There are also programs that allow you to obtain a loan without any income
verification. |
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Where do I close? top
of page |
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The closing normally takes place within
30 minutes of your home. The closing is usually at an attorney’s office
or at a title company’s office depending on where you live. |
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When will I be ready
to close my loan? top of page |
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Closing will be done once eHomeCredit has
received the required documentation and our underwriter has signed off on
the conditions. This usually takes approximately 2-3 weeks. |
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Can I apply for a purchase loan
before I’ve found my home? top of page |
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Yes. When you apply for a purchase pre-approval
you simply assume a maximum purchase price, loan amount, and loan program.
Once your loan has been approved you can change any of these variables to
match the specifics of the house you have in mind. Please note that we cannot
lock in a loan until a property address has been specified. |
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What advantages are there to refinancing?
top of page |
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Refinancing your existing mortgage can help
to lower your monthly payments, shorten the term of your mortgage, or get
cash back for any reason. |
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Can I borrow all of
the equity in my home? top of page |
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Yes, you can borrow up to 100%
of the equity in your home. You can use this money to pay off debts, for
home improvements, or anything you need. |
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Does eHomeCredit share client information
with other companies? top of page |
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Since eHomeCredit is a lender
and does all of their processing in-house, there is no need for anyone other
than us to see or use your information. Your personal privacy and the security
of your personal data are a primary concern of ours. eHomeCredit believes
that you should be aware of who we are, the types of information we may
collect on our web site, and what we do with your personal information.
Our overall philosophy is straightforward. Under no circumstances will eHomeCredit
sell or share any personal information about you to or with any person or
organization except to our authorized agents, or as may be required by law
or court order. |
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