We are a direct lender. That means we make loans ourselves, assessing borrower risk based on our 50+ years of industry experience. We transfer our mortgages to prominent regional banks, which allows us to provide competitive rates.
See our rates here.
Interest rates in the mortgage business are set by the end buyers of the loans—usually banks. As a result, lenders tend to offer roughly the same rates. We do our best to offer very competitive rates for the markets we serve.
Beyond that, we are different from other lenders. We won't change the rates or fees on you once you are approved and you select your product and lock your rate. No wild promises that we'll beat every other lender in existence on rate.
Learn more about our experience by going to Why Eave.
For a deeper understanding, have a look at these FAQ points:
We are currently lending in Colorado and California, exclusively. These states are home to some of the most competitive real estate markets in the country and we thought we could start by giving the residents in these markets who are looking for luxury homes an improved mortgage experience. We are currently lending to luxury buyers who fall outside of conventional loan offerings, on homes in the range of $567,000 to $8 million. We are always looking to improve and hope to expand into new markets with additional product offerings in over the next year.
We protect your data the way we'd want our own data protected.
Our system is more secure than the general industry standard. Instead of collecting information via email (a common entry point for hackers), we use a secure website to gather borrower information, often directly from your financial institution. Experienced loan officers and underwriters work within our secure software platform. We care about security to protect your sensitive information, but also to protect us, as a lender. By securely collecting, transmitting, and storing data electronically, we can be confident that we're making underwriting decisions using the right information, while preventing any unauthorized access to any of that information. If you have further concerns about your privacy and the security of your information, please review our Privacy & Security Policy.
Our conditional Eave Approval gives you the certainty and confidence to bid like a cash buyer, because you have:
Important conditions of your Eave Approval:
Your conditional Eave Approval will remain conditional until your application is complete and an eligible property has been identified. We will do everything in our power to gather everything we need to verify your financial standing prior to issuing the approval and we will only issue that approval when we are confident that nothing on our side could lead to the later denial of your loan. However, there could be outstanding conditions listed in your approval letter that must be met before we can issue our final commitment to lend. Any outstanding conditions and situations outside of Eave’s control could create issues with your loan if not addressed immediately. Should any aspect of your financial profile change prior to the loan closing, it is critical you notify us as soon as possible.
After you've received your conditional Eave Approval, but before we provide you with a final loan commitment, we will still need to analyze the value of your selected home and supporting documents. This step is important, because it protects both your interests and ours. For example, we might find out that the home you've chosen has a crack in its foundation, which would likely make it worth less than you had thought. We complete this final stage as quickly as possible by drawing on internal data, market insights, and an appraisal. If we encounter any issues, we'll let you know as quickly as possible so you aren’t left with any last-minute surprises.
You can learn more here.
There isn't a catch, but we understand why you'd feel that way! We started Eave to rebuild how the mortgage industry works so that a lender like us could put homebuyers first. We took our 50+ years of mortgage expertise and spent two years building the team and technology behind Eave.
Here's a few parts of what we do differently:
We're a lender, not a middleman passing the buck.
Our underwriters use state-of-the-art, proprietary software that can handle complex finances with ease.
Our software tailors the application process to you. We ask only for info we actually need, and in most instances directly from your financial institutions, so that it makes it easy to ensure the information is complete, current, and accurate.
We started from scratch and asked ourselves, “How can we work with borrowers to intelligently understand their finances? And how do we also do that for the home they want to buy?” We knew that a lot of “best practices” weren't truly that, so we focused on maintaining great underwriting standards and providing you transparency into each step of creating a loan.
* Based on our team's 50+ years of industry experience.
Typically we transfer your loan to a regional bank or financial group two weeks after you close. We'll tell you when this happens. Your rates and terms won't change—just where you send your payments.
You can always contact us if you have any questions or concerns. While we won't own your loan, we do care about the relationship we've built and we want to protect your interests. We transfer our loans only to banks that we trust and we spend, on average, six months evaluating them.
We plan to serve homebuyers in many states who are buying homes of all sizes. We want every borrower to be able to compete with cash buyers. We're on track to help them thanks to our fast, customized mortgage experience, and the certainty provided by our Eave Approval.
We've already made substantial improvements by reducing time-to-close from an average of 45 days to 21. And we'll continue to eliminate costs and delays, as well as find new ways to save you money.
Nope! Mortgage lenders are built on decades-old core software. Many new mortgage lenders, including those with online presences, are focused on making small steps of the process better. But we took the entire mortgage universe apart and put it back together, better, with Eave.
At this time we are only able to offer purchase mortgage loans. We would be thrilled to assist you at this time should you choose to purchase a new home, and please check back with us as we do intend to offer a refinance option in the future.
* Don't just get pre-approved on your mortgage, get Eave Approved. Eave Approval is a conditional mortgage approval that shows sellers your financials have been vetted. If you'll let us, we'll verify your assets, debts and income to give you confidence in your affordability range.