Eave

Other Digital Mortgage Lenders

Traditional Lenders

Full Upfront Financial Underwrite of Borrower

Tip: Financing delays are common amongst most lenders. Sellers want certainty. The more underwriting you do upfront before making a bid on a home, the stronger your offer will be.

Yes

Eave bypasses flimsy pre-approvals entirely. Apply in 30 minutes and we do a full financial underwrite within 24-hours.

No
No
Ability to close

Tip: Sellers want to know that you’ll close on time, with certainty. Otherwise, they’ll choose another offer.

Yes

Eave has closed on time 100% of the time. We have never missed a closing date.

Varies

Some lenders are better than others. Be sure and ask prospective lenders what their closing rate success rate is.

Varies

Some lenders are better than others. Be sure and ask prospective lenders what their closing rate success rate is.

Local Presence?

Tip: Lenders with a local presence tend to know what it takes to win against competition and close faster. This is especially important when buying in competitive markets.

Yes

Eave maintains a local Presence in all markets served.

Varies, but mostly no

Most digital lenders maintain a national presence, though you may find one or two with a local footprint.

Yes
Rates

Tip: Most lenders pre-approve you based upon their advertised rates. You won’t necessarily qualify for this rate. To get a better sense of what rate you’ll actually qualify for, you’ll need to be fully underwritten.

Consistently Low

Our rates are consistently lower than national averages and are competitive with what private banks offer to their best customers. And because we skip flimsy pre-approvals upfront, we can give you much more accurate idea of what your rate will actually be.

Varies

Digital Lender rates vary, but be careful of choosing a lender based on a “3-minute pre-approval” or their headline rates. Until they put you through a full financial underwrite, they can’t give you a good idea of what your rate will actually be. Most lenders don’t underwrite you until you’re in contract on a home, which can result in unexpected rate hikes.

Varies

Traditional lenders rates vary, but be careful of choosing a lender based on a “3-minute pre-approval” or their headline rates. Traditional lenders are known to offer “low rates” only to recapture that “savings” through points and fees.

Speed

Tip: Most sellers want to close quickly. That’s why all-cash offers are 97% more likely to be accepted. Sellers know that many lenders promise a quick close, but fail to deliver. And missing a closing date could put your earnest money deposit at risk.

21-Day Close Guarantee

Eave will reimburse your lost earnest money up to $100,000, if you can’t close on-time and the fault is ours.

You can read full details of this guarantee here.
Avg Time to Close 37 days
Avg Time to Close 45 days
Lender Fees

Tip: These are fees a mortgage lender charges you for originating your mortgage.

$0
Varies

Generally, 1% - 3% of loan value.

Varies

Generally, 1% - 3% of loan value.

3rd Party Closing Costs

Tip: These are costs paid at closing. They fall into two categories: (1) 3rd Party fees (2) upfronts & escrows. Costs for 3rd party fees are mostly determined by the 3rd party vendor. They include things like appraisal and recording fees, and the cost to inspect the home.

Learn more about closing costs here.
Varies

Eave protects your interests by questioning frivolous fees.

Varies
Varies
Loan Officer Quality

Tip: The experience you have with a lender will vary substantially based upon the skill of your loan officer. Be sure you work with a quality LO with a strong reputation and proven track record.

Yes

Eave loan officers maintain strong review ratings and are available to you 7 days per week. You’ll have a personal LO who sees your loan from start to finish.

Varies

Different lenders have different standards for loan officers. Be sure to look up reviews and/or ask for a loan officer for references.

Varies

Different lenders have different standards for loan officers. Be sure to look up reviews and/or ask for a loan officer for references.

Contingency Removal Support

Tip: Sellers often see contract contingencies as roadblocks. That’s why they tend to choose cash. By removing contingencies where it makes sense, you can make a stronger offer.

Yes

For homebuyers with exceptionally strong finances, we can support you should you choose to waive certain contingencies on your offer.

No
No
Safe & Secure

Tip: This measures whether an institution offers top level security and protects your data.

Yes
Yes
Yes