Embrace Home Loans offers you a “refreshing approach” to home financing and purchasing. Whether you’re in the market for a conventional, VA, FHA, or “whatever you need,” Embrace has the perfect loan for you. There is no application fees and you may even be pre-qualified with as little as one day. Embrace is one of the quickest growing lenders in the United States, however, it’s worth noting that they do not serve all 50 states; only 44 states. If you’re not within their jurisdiction, good odds, you’ll have to explore some other options.
Editor’s Note: Residents of Alaska, Hawaii, Montana, Nevada, Vermont, and Wyoming are not eligible for a mortgage product from Embrace Home Loan
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Embrace Home Loan Mortgage Summary:
- Apply Now
- Account Type: Mortgage Loans – Conventional, FHA, VA, HARP 2
- Availability: Nationwide
- Expiration Date: None
- Additional Advise: Have the necessary documents and validation information ready to make your process as smooth as possible. You can get your loan approved in as little as three weeks.
Embrace Home Loan Mortgage Basic Requirements:
Here’s a quick look at the documents that you’ll need to pull together.
- Copy of drivers license and Social Security card.
- Address(es) for the past two years. Borrowers who have been renting may be asked to get a letter signed by your landlord verifying that you’ve been paying rent and that you’ve paid it on time.
- Employment for the past two years. We’ll need name(s) and address of each employer along with more information on any gap in employment.
- Income for the past two years. The fastest way to do this is to provide your last two tax returns along with copies of your pay stubs from the past two months.
- All money-related assets. You will be asked to provide the last two or three months’ statements from all checking accounts, savings accounts, money market, IRA, mutual fund and brokerage (stock) accounts.
- All debts. Embrace will pull your credit report to reveal the information we need on credit card debt, installment loans (like student loans), car loans and your current mortgage and home equity loans if you’re refinancing.
- The Sales Contract. HomeBridge will need a copy of your original purchase agreement.
Specific situations provide additional documentation, including:
- Income from child support or alimony.
- Self-employed borrowers.
- Borrowers owning investment properties.
- Borrowers with a previous bankruptcy.
- Divorced or separated borrowers.
- Proof of VA eligibility.
Embrace Home Loan Mortgage Features:
- Competitive rates on Conventional, FHA, VA, and HARP loans
- No application fees
- Get pre-approved in less than one day
- Fast, easy quote process
Pros:
- Offers fixed- and adjustable-rate conventional mortgages, FHA, VA, and Harp 2 loans
- No application fees
- Pre-approval in less than one day
- Branch offices in 18 states with over 60 branch locations
- Get your funds in a little less than three weeks
- Educational resources for new home-buyers
Cons:
- Not available in all states
- Non-transparent rates. Must contact a loan officer just to get rates.
- Does not have USDA or Jumbo loans
Conclusion:
Are you in the market for a new home? If you’re looking for a good mortgage company with actual branch locations and you like face-to-face mortgage consultation, then Embrace Home Loans could be a viable option. Note that their products are not available in all states and their rates aren’t entirely transparent. They don’t have their rates listed on their website comparative to a majority of mortgage companies that do offer such services. This makes for total inconvenience for me and especially those that are looking to compare rates with other mortgage contenders more efficiently. Other than that, they’re pretty solid, unless if you want USDA or jumbo loans, of course. Then, you can look at our other options with a compiled list of our Best Mortgage Rates for all your home-buying needs!
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