eClick Lending Mortgage Review 2021

eClick Lending overview

eClick Lending is an online-only mortgage lender headquartered in Oakbrook Terrace, Illinois, lending $1 billion to $2 billion per year. It is a division of Celebrity Home Loans LLC (formerly Midwest Equity Mortgage). The lender offers conventional and government loans and refinancing, and getting preapproved typically takes a business day or two, while closings take as little as two weeks — “much quicker” than the typical 40-day process some other lenders have, according to eClick’s website. If you’re a borrower who has already worked with the lender, there might be a discount on costs depending on your financial situation and if you’re in good standing.

Good for

Borrowers looking to compare rates online or for a short closing, or are comfortable with doing part of the application online

Loan types

• Conventional
• Jumbo
• FHA
• VA
• USDA
• Fixed-rate
• Adjustable-rate
• Rate-and-term and cash-out refinancing
• Investment property

Lender fees 

eClick Lending does not provide lender fee information on its website.

Rates

eClick Lending advertises its daily mortgage rates on its website. If you’re interested in potentially taking out a mortgage or refinancing through the lender, you can see current rates for a 15-year, 20-year, or 30-year fixed-rate mortgage or refinance.

Reputation

With the Better Business Bureau, eClick Lending’s parent company Celebrity Home Loans has an A+ rating, but one out of five stars (based on only five reviews, however). eClick Lending has 3.7 stars out of five on Trustpilot.

Online services 

eClick Lending offers the option to start the preapproval and application for a mortgage online, but you’ll need to finish the process by talking to a representative or loan officer. You can reach out with questions by email or sending a comment. While there aren’t a lot of resources available on the lender’s website, there is a handy mortgage calculator to help you figure out how much home you can afford.

Minimum borrower requirements

eClick Lending follows Fannie Mae’s underwriting guidelines, which means borrowers need a minimum credit score of 620 and can put down as little as 3 percent. Borrowers also can have a maximum debt-to-income ratio, or DTI, of 50 percent with a Fannie Mae HomeReady Mortgage. That means the sum of your monthly debts (including the new mortgage payment) cannot exceed 50 percent of your gross monthly income. 

Refinancing with eClick Lending 

eClick Lending offers refinancing, including cash-out refinancing. Current refinance rates are available online. To get preapproved, you start by going through the online application. Afterward, a loan officer will reach out to you to answer questions, review your options and offer you a quote for a 15-year, 20-year or 30-year fixed refinance. Adjustable-rate mortgages are also available.

Not sure if eClick Lending is right for you? Consider these alternatives

• Texas Trust Home Loans review: An online lender with no fees, but only available in a handful of states
• Optimum First Mortgage review: Another smaller-scale lender offering no-fee refinances
• Anchor Home Mortgage review: A mortgage broker working with Florida and Georgia-based borrowers that matches you with the best loan for your needs
• LowRates.com mortgage review: A nationwide online lender with a variety of loan choices
• Garden State Home Loans review: A lender providing the standard suite of loan products in certain states

Breakdown of eClick Lending overall review score

• Affordability: 13/15
• Availability: 19/20
• Borrower experience: 9/10 

Review methodology 

To determine a mortgage lender’s Bankrate Score, Bankrate’s editorial team rates lenders on a scale of one to five stars based on a variety of factors relating to the lender’s products and services. Bankrate’s partners compensate us, but our opinions are our own, and partner relationships do not influence our reviews. Here is our full methodology.