We arm our clients with the lowest rates that banks offer their best clients. It’s tailored to you and comes with certainty and peace of mind.
We do a few things to help make your home-buying experiences as pleasurable as your home shopping experiences, and to recognize your unique financial strengths with the best rates around:
We charge zero lender fees.
Typically, mortgage companies charge underwriting, processing and origination fees that add substantially to the cost of your mortgage. Nationally, the average homebuyer pays $1,550 in extra fees. Why do those fees exist?
One reason is that they allow a lender to offer you a lower interest rate, while in effect charging you more for your home loan. It’s a classic bait and switch.
A second reason is other lenders have inefficient, paper-based processes that add cost to their businesses. They try to recover that cost by charging you fees. We removed all unnecessary complexity. Further, we tell you your interest rate when we underwrite your mortgage and provide you the option to lock it in as soon as you’ve identified the property you’re buying.
We save you time and stress.
We offer a conditional approval that takes into account the supporting documents necessary to do a nearly complete underwrite before you’ve even found your home. For highly qualified borrowers, this will leave only property based conditions.
- You’ll have ease of mind, that you can afford the home you want, and that your offer is more likely to be accepted.
Our Eave Approval™, which we give to qualified borrowers, is a complete conditional approval. This makes your offer stronger and more secure from a seller’s point of view. It also ensures you know exactly how much you can afford and what you’ll pay up front and every month. No bait & switch. No stress. No drama.Many lenders say they underwrite your mortgage in as little as one-day. We say this, too. But there’s a key difference.When most lenders “underwrite” your file, they aren’t doing what’s considered a “full underwrite.” They don’t verify any information you submit and only fully verify your income & assets once you’ve bid on a home. Often, this causes delays, stress, requests for additional documents, rates to increase. In a worst-case scenario, fall through entirely.We do things differently. We started by hiring the very best engineers, dramatically cutting complexity from the process, and we built our own software, which automates 80% of the underwriting process. At Eave, you submit your supporting documentation as you complete your application. We verify the information before we issue your Eave Approval ™. We’re able to fully underwrite your the income and asset portion of your mortgage in as little as one day. (On a side note: This frees up our underwriters to focus on those things about you that are unique or more complicated than traditional borrowers, which enables us to serve borrowers such as entrepreneurs and people with commission-based pay, better).
We call this our “Mile High Certainty Program”. We may determine you qualify as a “High Certainty” borrower. A Conditional Approval with Mile High Certainty allows us to give you the confidence to maneuver like a cash borrower when you find the right property.
We help you create an offer that can compete with cash buyers. We enable qualified buyers, with the advice of their agents and lawyers, to remove the financing contingency.
A contingency is a clause in your agreement with the seller that your purchase of their home is contingent on certain things happening for you – one of which is being able to secure financing.
In a hot market like Denver or Boulder, having a contingency in your agreement to buy a home can give an advantage to an all cash buyer, even if they are offering less money. This is because there is no risk that their financing will fall through. In short — they’re a sure bet.
But at Eave, we’ve defused this power from cash buyers, and given it to you. Here’s how:
- Contingency Removal: With Eave’s proprietary system, we’re able to run an analysis within one day of your application that allows us to determine whether your financial profile, is strong enough for us to indicate that your financing will go through with “High Certainty”. For those who qualify, it means that you’ll be able to make an offer with an Eave Approval™. You choose to remove the financing contingency in consultation with your real estate agent or attorney; you might also go a step further and if you’re sure of the value of the home, remove the appraisal contingency.
- We protect your Earnest money: In most deals, as you probably know, potential buyers put down earnest money, or “a good faith deposit” that is later applied to the down payment. This is typically anywhere from $6,500 – $50,000 in the luxury home market. We are so confident in our review of your financial profile, that in the event that your purchase falls through as a result of Eave’s error, we’ll reimburse any forfeit earnest money, up to $100,000. Because we’ve reviewed your full financial profile, we’re more than confident to put our own money on the line for you.
Our rates are among the lowest around.
Because we’ve created a highly efficient process, and are backed by some of the most powerful banks in the country, we can afford to offer you rates offered by banks to their best customers. In addition, for qualified borrowers, we offer rate reductions of up to 0.25% from our headline rates.
You want your home to be exactly right. We’ll help you line up the financing that’s exactly right for you, so you can keep your money invested and yet be treated like a cash-buyer.