Eligibility.org Mortgage Review
While not a direct lender, Eligibility.org’s services can help you better understand the path to securing a home loan. You can use its services to learn about eligibility requirements for four of the most popular kinds of home loans, including VA, FHA, USDA, and Conventional home loans. You can view these requirements at a glance, or you can go through Eligibility.org’s free eligibility questionnaire to better understand your specific loan eligibility.
After completing this questionnaire, which only takes a couple of minutes, you’re connected with a real lender to discuss your financing options. In this sense, Eligibility.org is not just an educational platform, but also a home loan concierge service as well.
Pros and Cons of Eligibility.org
- Very straightforward approach to explaining common home loan options
- Completely free to use
- Support for the most popular home loan types including VA, FHA, USDA, and Conventional home loans
- Connect with a lender to determine your eligibility and go over your options
- Not a direct lender
- Site navigation could be better
What’s Available on Eligibility.org?
As we mentioned, Eligibility.org is not an actual loan provider. Instead, it helps people understand where they are in terms of eligibility for four of the most types of home loans: VA Home Loans, FHA Home Loans, USDA Home Loans, and Conventional Home Loans.
In case you’re unfamiliar with these loan types, here’s a short description of each from the site:
- VA Home Loans: The VA Loan program primarily serves our nation’s Veterans and active duty service members.
- FHA Home Loans: The FHA Loan program offers favorable terms that are popular among first-time homebuyers.
- USDA Home Loans: The USDA Loan program is a government-backed mortgage tailored for millions of homebuyers in rural and suburban areas.
- Conventional Home Loan: Conventional Loans are the most common home financing option and feature no government guarantees.
More than just a synopsis and eligibility requirements, as you’ll see upon navigating to the site’s “Home Buying” section and scrolling down, you can also view each loan type’s specific benefits, as shown below:
- VA Home Loans:
- No down payment required
- Favorable interest rates
- No need for private mortgage insurance
- FHA Home Loans:
- Down payments as low as 3.5%
- Lower interest rates
- Qualify with a credit score as low as 580
- USDA Home Loans:
- No down payment required
- Competitive interest rates
- Flexible credit requirements
- Conventional Home Loan:
- Minimum down payment of 5%
- Favorable rates for borrowers with sterling credit
- Use for primary residences, second homes, or rental properties
Regardless of what loan type you choose, it’s difficult to say what you can expect in terms of rates as it’s not actually Eligibility.org providing the loan. And details will change depending on your chosen loan type, specific financial situation, credit score, and other related factors. Only after filling out the site’s questionnaire and being connected with an actual lender will you have an accurate picture of your specific loan details.
This may seem like a drag, but the site’s quick eligibility questionnaire, which typically takes only a couple of minutes to complete, is perhaps the quickest and most convenient way to understand whether or not you’re eligible for a home loan in the first place. Instead of searching the web, making calls, and generally having to research your home loan options one-by-one, you can simply take a couple of minutes to answer some simple questions, automatically connect with an actual lender, and hear from a professional what you are and aren’t eligible for.
How It Works
If you’re just interested in learning about the various different types of home loans available, you can simply navigate to the “Home Buying” section, scroll down to where the descriptions are, and read through the provided material.
Or, if you’re interested in learning about a specific loan type, you can click on that loan type’s box at the top of the page to be brought to a dedicated page. It’s worth noting that while both VA loans and Conventional loans have dedicated pages on Eligibility.org, clicking on either “FHA Loan” or “USDA Loan” will take to you a partner site — FHAloans.com and USDAloans.com respectively.
If you’re more interested in filling out a loan type’s eligibility questionnaire, the process is similar: Simply navigate to the “Home Buying” section of the site and click on your desired loan type from the options at the top of the page. You’ll then be brought to a portal where you’ll be asked to answer a number of questions to determine your eligibility.
After answering these questions, Eligibility.org will then connect you with a lender to discuss your eligibility and go over your options.
You may not be able to get a loan directly from Eligibility.org, but you can accomplish just about every other step required to secure one. You can learn about the most common home loan options available, who each option is best suited for, as well as their respective benefits and eligibility requirements. This alone frees up significant time and headache trying to research the world of home loans yourself.
Beyond this, you can fill out a quick online questionnaire to determine your specific home loan eligibility in just a matter of minutes. After answering just over a dozen simple questions, you’re connected with an actual lender to discuss your eligibility and loan options. Again, compared to tracking down lenders one-by-one, this is a much quicker and easier process.
If you’re in the market for a home loan and don’t know where to start, or you’re simply looking for the best options available to you, it’s worth your time to visit Eligibility.org and fill out a free eligibility questionnaire.