eClick Lending Mortgage Review 2021
Please note: In response to the coronavirus pandemic, lenders are changing their requirements continuously. Although we strive for accuracy at the time of publication, please be sure to check with the lender for updated details on down payments, credit scores, etc.
At a glance
NMLS: 227765
State License: MC-5920
3.6
Bankrate Score
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Find my best matchesLoans offered
Conventional, fixed, adjustable; refinancing options include cash-out refinancingNationwide availability
Available in 21 states (Alabama, Arizona, California, Colorado, Florida, Georgia, Illinois, Indiana, Kansas, Maryland, Mississippi, Missouri, New Jersey, Oregon, Pennsylvania, South Carolina, Texas, Utah, Virginia, Washington and Wisconsin) and the District of ColumbiaMin. credit score required
620 for conventional loansPros and cons
Pros
- Offers preapproval
- Has high user review scores
- Offers closings quickly, in as few as two weeks
Cons
- Doesn’t offer government-insured loans (FHA, VA or USDA loans)
- Doesn’t offer immediate online preapproval; you have to speak to a loan advisor first
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 loans and refinancing, with closings taking as little as two weeks — “much quicker” than the typical 40-day process other lenders may have, according to the lender's website.
Loan types
- Conventional
- Fixed
- Adjustable
- Cash-out refinancing
Lender fees
eClick Lending does not provide lender fee information on its website.
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.
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eClick Lending consumer reviews
5.0
345 reviews
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100% of reviews would recommend this lender
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