Eave Launches Suite Of Products For Home Loans Up To $20 Million
DENVER, July 13, 2018 /PRNewswire/ -- Eave, a direct jumbo mortgage lender in Colorado, launched a suite of products aimed at helping home buyers avoid the need to cash out investments to win bids on houses.
Eave's seamless process makes getting a mortgage easy and fast, enabling homebuyers to stay invested. In competitive markets, buyers often chose to use cash to win a bid, and then finance later. About 15% of homes in Denver, for instance, are financed in cash, according to the Denver Metro Association of Realtors.
Eave automates 60%+ of the mortgage process in its software, operated by expert underwriters. It offers a Same Day Eave Approval with interest rates that banks offer their best customers. Eave finances homes in Denver worth $665,000 to $20 million.
Eave's precise and personalized approach to evaluating borrowers takes into account sources of income and financial circumstances that other lenders struggle to understand. Its products are designed to help people with complex financial profiles and variable income, such as entrepreneurs or those with income from stock. In some cases, at the starting range of the jumbo market, Eave offers financing when traditional banks would not.
Eave also fully underwrites buyers up front, so homebuyers and their real estate agents know exactly how much home they are approved for and can act with the same speed as cash buyers and their agents.
An Eave Approval provides a full underwrite of the homebuyers and helps them bid confidently in the certainty that the loan will close. Based on the certainty they feel, some buyers choose to remove contingencies and submit offers that win over all-cash offers. The streamlined process, which eliminates a number of fees, means Eave reduces fees and up front points by as much as $5,000.
"They're very impressive, especially in such a fast-moving market as Denver. Because we're facing a lot of cash buyers, the difference between a two-week closing and a three-week closing is substantial," said Elizabeth Sacerdoti of the Coakley Sacerdoti Team of Kentwood Real Estate.
Eave was founded by three tech-and-finance veterans - former Capital One executive, Saro Vasudevan, and Jack McCambridge and Anoop Ranganath, executive and manager at Hailo and Foursquare, respectively. Christina Nugent, who built Trulia's office in Denver to 300 people before it was acquired by Zillow, leads market development. For more information, please visit our website https://helloeave.com.
SOURCE Eave
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