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Frequently Asked Questions

Topics (partial list)
If your question is not answered below, send email suggesting an addition to the FAQ list.


Why are Loanlane's rates so low?Top of Page
Because we target specific lenders and investors. We deliver only high grade, well secured loans. Because of this selection criteria, we cannot accept all of the mortgage inquiries that are sent to us.

If we are unable to accept your loan, we will do our best to help you find another company that may be able to help.
How do I apply for a mortgage?Top of Page
Please fill out a secure application, by starting here. Once you've filled out the secure online application, we will mail you the forms for your signature(s) and attachments. All information sent on the electronic application is encrypted, and your information will remain strictly confidential.

If Loanlane represents you in a mortgage transaction, your paperwork will remain with us for three years, after which it will be shredded.
What happens after I apply for a mortgage?Top of Page
We contact you to verify receipt of your application, and determine th best way to proceed. Most of the contact is done through email, but we will telephone you if the situation warrants closer communication.
How do I check on interest rates?Top of Page
Rates are posted daily on the quotes page. You may also contact us at 650-321-7027 and speak with a licensed mortgage broker, who can quote rates other than those posted on the quote server, as well as provide market advice.


Can I set up some type of rate watch?Top of Page
Yes. Tell us what rate/point combination your are looking for, and we will email you on the day rates hit your target.
How do I lock in my rate?Top of Page
Send email to us and we will lock in your rate. Important: Rate locks are generally accepted each business day between the hours of 10:00 AM and 9:00 PM. Mortgage applicants may telephone us if they do not have access to email. Loanlane will endeavor to lock your rate as quickly as possible, but cannot guarantee the rate until we have a confirmation from the lender. Confirmations usually within minutes. For more information on locking a rate, check our lock policy.


Once I've locked in, can I get a lower rate?Top of Page
This depends on market conditions. Loanlane has contractual arrangements with lenders to deliver and close loans based on the locked-in rate. Our contract does not allow for the renegotiation of your rate unless rates have improved significantly since the time of your lock.
Who is the lender for my loan?Top of Page
This will be disclosed after your loan has been submitted and put into process. Loanlane is not allowed to publicly disclose lender names because these lenders also operate retail loan outlets.


Is the lender reputable?Top of Page
Yes. Your loan will be funded by a well capitalized lender.


Will my mortgage loan be sold or transferred?Top of Page
Maybe. Your loan will funded by a local lender, and might be sold to a national lender.


Can I set up automatic payments?Top of Page
Yes. Most lenders are able to accept an electronic funds transfer.


Can I make prepayments?Top of Page
Yes. Your loan will have no prepayment penalty, so you may make additional payments which will applied toward your principal balance.


Can I apply for a refinance but not close right away?Top of Page
Yes. Many applicants choose to apply and have their refinance loans approved. The applicant then waits for mortgage rates to hit a specific price point, and proceeds with the loan closing.


Can I apply for a purchase pre-approval?Top of Page
Yes. If you are home shopping, you can apply and be approved for a mortgage loan before you've found your home, and make your purchase offer from a position of strength.
What about insuranceTop of Page
We have two summary pages dealing with insurance. Mortgage insurance, which protects the lender, is required for loan that exceed 80% of the value of the home. To read about mortgage insurance, go here. Homeowners insurance protects both you and the lender against property loss . To read about homeowners insurance, go here.

Homeowners looking to obtain a flood insurance quote can gain valuable information from America's Flood Services, Inc. Remember to ask your flood insurer if an elevation certificate could be used to reduce the amount of the annual premium.
Tax deductionsTop of Page
The U. S. Treasury maintains a thorough web site, with links to various aspects of the tax code.

Homebuyers often ask if they can deduct their loan points (both origination points and discount points). For guidance on this issue, see Publication 936. You are strongly advised to match your year-end mortgage interest statement against your own records to determine if the appropriate amount of mortgage interest was reported by the lender. Certain lenders have been known to report only discount points paid, but not origination points paid, on the year-end Mortgage Interest Statement Form 1098. See our page dealing with loan points for more information

Homeowners often ask how much of their mortgage interest is deductible. For information on home mortgage interest, and limitation on deductability, see Publication 936

What about privacy?Top of Page
Privacy is one of our top priorities. This site uses encryption software developed to safeguard data while it is in transit from your computer to our computer. Once received by us, all of your personal data is kept private, except for that which is required to process your loan. The only parties who have access to your data are those who have a direct involvement in the creation of your loan file. This includes: credit reporting companies, lenders, and escrow agents. To read more about our privacy policy go here.

How do I dispute information on my credit report?Top of Page
Credit reports are not perfect. Many contain errors, and unfortunately the burden is on you the consumer to prove the information is incorrect. For instruction on how to do this go here.


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Equal Housing Lender. Copyright 2007 Mark Leaver. All rights reserved. Terms and Conditions of Use. Read our privacy statement. CA Department of Real Estate, Real Estate broker. Rates appearing on the Loanlane web site are intended for California owner occupied single family residence only. The information contained herein is believed to be reliable. However, we do not make any representations as to its accuracy or completeness. Any statements nonfactual in nature constitute only current opinions, which are subject to change. Mortgage rates are subject to change without notice. Mortgage rates posted on this web site apply to applicants with a minimum FICO score of 720 or a loan-to-value ratio less than 60%. Stock quotes, if displayed, are delayed 20 minutes. Stock quote data and market index information is provided for information purposes only, and is not intended for trading purposes. Loanlane is not liable for any errors or delays in the content, or for any actions taken in reliance thereon.