The company aims to help homebuyers avoid the need to cash out investments to win bids on houses
Direct jumbo mortgage lender Eave has announced the launch of a suite of products for home loans up to $20 million.
Eave said its products are aimed at helping homebuyers avoid the need to cash out investments to win bids on houses.
The lender is offering Same Day Eave Approval, which features interest rates the company says banks offer their best customers. Based in Colorado, the company finances Denver homes worth $665,000 to $20 million. The company uses software operated by underwriters that automates more than 60% of the mortgage process. The company also said that its products offer financing at the starting range of the jumbo market.
Eave’s products take into account a borrower’s sources of income and financial circumstances during evaluation. The company said it takes a personalized approach for borrowers with complex financial profiles and variable income, such as entrepreneurs or those with income from stock.
Homebuyers receive a full underwrite with an Eave Approval, allowing them to bid confidently in the certainty that the loan will close. Using a streamlined process that eliminates a number of fees, Eave said it is able to reduce fees and upfront points by as much as $5,000.
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