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This digital mortgage provider’s five-step, AI-driven process accesses your financial documents to give you a decision quicker than most lenders are able to manage. But you’ll have to give up your account credentials in exchange for the convenience of same-day approval.
Loan products offered | Conventional, Refinance |
---|---|
Minimum credit score | 620 |
Minimum down payment | 3% |
State availability | Only available in: DC, FL, MA, MD, RI, TX, VA |
NMLS # | 1799947 |
What makes Beeline different from traditional lenders is its ability to link directly to your financial and tax accounts to get your real numbers — not estimates. This allows Beeline to significantly speed up the application process and give you a preapproval decision within minutes, instead of days.
Beeline states on its website that any information you enter is encrypted end-to-end and none of your credentials are stored or accessible to anyone. However, giving up that kind of information isn’t for everyone, and you need to decide if the trade-off is worth it to you.
To determine your eligibility, Beeline considers personal and financial information that includes:
If you qualify, a purchase-ready approval letter is available the same day — including your rate and loan amount.
To find out if you qualify, go to Beeline’s home page and click Start to begin the five-step application process.
To take advantage of Beeline’s same-day processing of your loan application, you’ll need to provide login credentials to your financial and tax accounts.
If you wish to proceed with this method, you’ll need to have the following on hand:
If you’re not comfortable with giving up your login credentials, or you don’t require a same-day decision, you can provide PDFs to process your application. You’ll need to have the following documents available for uploading:
For employed persons:
For self-employed persons:
Beeline doesn’t charge lender fees, such as application, origination, underwriting and rate lock. However, you’ll have to pay fees for the title work, credit report, flood certification and town/county fees for your home loan. Beeline’s loan estimate breaks down the costs for you.
The application takes you through five steps. You’ll be asked a series of questions about yourself, your bank accounts, investments, retirement plans, income and employment history.
To begin:
Beeline’s application links directly to the source of your financial information. This direct access allows your bank, pay and tax information to be collected and verified instantly. Any information you enter is encrypted end-to-end and none of your credentials are stored or accessible to anyone.
Beeline offers fixed and adjustable-rate conventional loans for these types of dwellings:
Beeline has streamlined and automated the entire application process, helping to remove unnecessary steps and paperwork. Because all your financial information is linked and verified immediately, you can get a purchase-ready approval in minutes. While Beeline offers greater convenience and speed than other lenders, it has limited state availability and doesn’t offer FHA, VA or USDA loans at this time — borrowers are limited to conventional loans.
As of November 2020, Beeline has an average rating of 4.46 out of 5 with the Better Business Bureau (BBB) and zero complaints registered. Customers are happy with Beeline’s competitive interest rates, ease of use, fast response times, technology and customer support. However, some customers report initial hiccups with the application process.
Founded in 2019 by five veterans of the real estate and fintech industry, Beeline is a fully digital home loan lender dedicated to providing a fast, streamlined mortgage experience. Beeline accelerates the industry’s shift to AI by asking potential borrowers to link their personal and financial accounts to its software for more accurate — and, it says, more trusted — approvals.
Beeline has an “A” BBB Rating & Accreditation. Beeline is based in Providence, Rhode Island and has raised $7.6m in equity capital to date.
Review by
Kat Aoki is a mortgage writer at Finder. Since 2011, she’s helped consumers make better financial decisions with their home loans, credit cards, insurance and more. As a business writer for the real estate, mortgage and personal finance industries, she’s written hundreds of helpful, informative articles for some of the leading brands around the globe that include iSelect, InfoChoice, realestate.com.au, GE Money and Amex. Kat earned a BS in Marketing from California State University, Sacramento. She enjoys travel, hiking and photography in her spare time.
Beeline is dedicated to providing a fast, streamlined mortgage process for first-time and existing homeowners. However, you’ll need to give up your login credentials for same-day loan preapproval. Depending on your circumstances, the trade-off may or may not be worthwhile to you.