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Beeline Loans Review

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Reviews 23

This site is a free online resource that strives to offer helpful content and comparison features to our visitors. We accept advertising compensation from companies that appear on the site, which impacts the location and order in which brands (and/or their products) are presented, and also impacts the score that is assigned to it. Company listings on this page DO NOT imply endorsement. We do not feature all providers on the market. Except as expressly set forth in our Terms of Use, all representations and warranties regarding the information presented on this page are disclaimed. The information, including pricing, which appears on this site is subject to change at any time.

CR
Christian Rigg
Oct. 08, 20204 min read

Beeline Loans summary

Beeline links directly to your bank, employer and tax information, and leverages the power of machine learning to provide rapid, personalized loan proposals.

Pros

  • Online application and approval process
  • Machine-learning speeds up approval times
  • Direct links to applicant data ensures reliable results

Cons

  • $60 credit report fee
  • Hard credit pull may affect credit score
Beeline Loansat a glance
4.2

Editorial score

Customer Service and Support

Great customer service

5.0

Variety of Loan Types

Purchase, Refinance

4.0

Variety of Products

Multiple terms

4.0

Online Experience

Friendly and easy to use website

4.0

Geographical Availability

Not available everywhere

4.0

Beeline Loans at a Glance 

Direct lender or marketplace? Direct Lender
Loan types Purchase, Refinance
Featured Loans Fixed-rate, adjustable rate
Repayment terms 15 to 30 year loans
Minimum Down Payment Varies based on loan type
Minimum Credit Score Varies based on loan type
Suitable for Fully online, rapid approval

Overview

Beeline is an independent mortgage provider that offers quick, online assessments and loan approvals for both purchasing and refinancing. Linking directly to prospective borrowers’ bank accounts, tax history, and employment information, Beeline uses machine learning to rapidly create a unique, reliable lender’s profile, for rapid approval on conventional mortgages without you ever needing to leave home. Despite this highly automated approach, Beeline also boasts great customer service. 

Suitable For?

Individuals looking for a fully automated, modern, online mortgage service that guarantees quick results and the lowest rates available, with price-matching, and without sacrificing customer service. 

Types of Loans/Products

Beeline offers a wide variety of loans. 15-, 20- and 30-year fixed-rate mortgages are available, as well as 3/1 (fixed rate for 3 years, adjusted every following year), 5/1, 5/5 (fixed rate for 5 years, adjusted every 5 following years), 7/1, and 10/1 adjustable-rate mortgages with low initial payments.

Information on credit requirements, APR, down payments, specific loan terms, and eligibility can be found in Beeline's extensive help section. 

The Application Process

The application process is easy and quick, especially compared to traditional lenders, and can be done on your smartphone. The process can be broken down into 5 main steps, and takes about 15 minutes in total. 

  1. Create your profile (2 minutes) – this helps keep your information safe and secure, with Beeline’s bank-level encryption and security. You’ll be asked to give your first and last name, date of birth, cell phone number, email address, and password. 
  2. Your down payment (7 minutes) – securely link to your bank account, using the same technology as Venmo and Amex, and add additional assets like property, gifts, shares, grants to get a global picture, then decide on your down payment.
  3. What you make (4 minutes) – indicate your employment status and upload pay stubs (W-2s) for automatic verification.
  4. What you owe (2 minutes) – you’ll be asked to confirm your address, and the automatically checks your credit rating and lists an overview of your debts and liabilities. 
  5. Wrap it up (1 minute) – lastly, you’ll provide information on citizen, marital, and current living status, any dependents, etc., followed by a series of questions regarding your personal and legal situation, the property, etc. 

Rates and Fees– The Bare Basics 

Beeline offers competitive rates for all their offerings for various types of lenders.

Unlike many mortgage lenders who do not disclose rates, Beeline advertises their rates right on their website. Users can view rates for both home purchasing and refinancing, as well as  customize their loan scenario in order to view rates they actually prequalify for.

Beeline doesn’t charge origination or processing fees, thanks to their highly automated service. Beeline even allows you to pay appraisal costs (usually up to $600) at closing, along with other closing costs like third-party and title fees. 

Repayment Terms

Loan lengths vary from 5 to 30 years, with different terms available for most loans. APR information is available once you’ve gone through the application process. 

Help & Support

Beeline has no shortage of 5-star customer reviews attesting to a motivated and supportive staff. Their site includes an extensive FAQ and Knowledge Base. You’ll also be supported throughout the process by a dedicated Loan Guide who can contact directly on text, DM, live chat, email or phone call.

Summary

As we’ve seen, Beeline is a mortgage company for the 21st century. With a smooth and modern that guides you through the application process from start to finish, and lightning-fast approvals that run on machine learning - there’s a lot here to peak one’s interest. Beeline also doesn’t charge any origination or processing fees, and will price-match if you find a cheaper loan, though they do charge a $60 credit report fee. 

FAQ

Why is Beeline only available in DC, FL, MD, MA, RI, TX and VA?

These are the states whose laws work well with the digital real estate processes that Beeline relies on for its quick lending service. 

How does Beeline keep user information safe?

Data is stored in read-only formats, and only the artificial intelligence at the heart of the service has access to it. Beeline never stores user credentials, and relies on two-factor authentication to secure the app. 

What makes Beeline stand out?

Beeline’s AI, and the fact that it connects directly with your bank accounts, is a big step forward in automating the home loan process. As a result, application and approval is less complex and more streamlined. The workload involved in traditional applications is greatly reduced, and with it, the stress of getting a traditional loan.

Why is Beeline so much cheaper? 

Beeline’s technology helps remove costly steps and automate the whole process, so less time, manpower and money goes into creating your profile, approving your loan, and guiding you from interested party to home owner. Basically, they keep costs low, and pass the savings onto customers. 

Physical Address

188 Valley Street, Suite 225, Providence, RI 02909.



CR
Written byChristian Rigg

Christian Rigg is a freelance writer who’s spilled ink on everything from finance and technology to data science. Born and raised in Canada, he currently lives in the south of France.

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ExcellentReviews 23
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  • author
    Rene Cabral-Daniels
    May 12, 2021
    Stellar Customer Service

    TJ and Abby provide stellar customer service! We had a complicated situation and they were both not only available, but reached out to me on their own initiative many times to explain current and prospective activities. I wish more companies had a TJ and an Abby! When you contract with any company your experience is with the staff- and my experience was great!

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  • author
    Kyle Lake
    May 12, 2021
    Beeline was able to meet my needs for a…

    Beeline was able to meet my needs for a faster close time and really helped me with making this happen. This included following up with me on multiple occasions to make sure that I was getting the documentation that they needed to make my timeline happen.

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  • author
    Matt O'Keefe
    Apr 30, 2021
    I highly recommend Beeline

    I highly recommend Beeline. They were great to work with. The up-front process is so much more efficient due to their online tools (compared to local lenders). You can track everything via your portal, but they add a personal touch with periodic emails, texts, etc. They were quick to respond to any questions I had. Chamira was my representative, and was outstanding. They made a typically tedious process much easier!

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  • author
    Symeon
    Apr 27, 2021
    Great Experience

    It was a painless process and Rosabelle was there all the way through. She was greater than great. As always, there are unforeseen obstacles in the process, but these got worked out efficiently. Others are trying, BEELINE is doing it. Way to go. I have already recommended BEELINE to a colleague and I am told the experience is also great.

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  • author
    Robert G.
    Apr 20, 2021
    Great Experience

    I just refinanced my 4 unit property and Beeline was by far the easiest lender I have done this with. Normally, it takes forever. Abby was super helpful and diligent about getting me to the next step. I appreciate the great rate and the low cost involved. Thank you again. -Bob G.

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  • author
    Mike L
    Apr 17, 2021
    Fast and friendly!

    Very happy with the Beeline experience. Knowledgeable staff always ready to help and move the process forward. We got a great rate and all proceeded smoothly. Thanks to all the staff who helped us along the way.

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  • author
    Frank b
    Apr 13, 2021
    Overall a good experience

    Overall a good experience. Rand Harper was excellent to work with as she followed up with my questions and got things done!

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  • author
    Josh Cerame
    Mar 25, 2021
    Excellent service and easy to use

    I had a second lien on my house and other lenders didn't take the time to figure out if I really even could refinance. Rebecca helped work through all the math and numbers and we figured out that I actually could. Rebecca and Chamira were always quick to respond and answered all the questions that I had. The website shows you a step by step progression of your lending which makes it easy to understand where you are and what's next. I would highly recommend Beeline to anyone and will.

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  • author
    Allie
    Mar 23, 2021
    Excellent service!

    My brother and I found Beeline and are using them to buy our first home. The process has been very smooth, technology is superb, and communication has been great. The whole team was very helpful and went above and beyond to answer all of our questions. We are locked at 2.87% and are putting 5% down. It is moving quickly, and we could not be more excited to close. Thank you, Beeline team, for all your help!

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  • author
    J King
    Mar 21, 2021
    Chamira Watkins got the ball rolling on…

    Chamira Watkins got the ball rolling on our cash out Refi. We were able to pay off our credit card debt with our equity and therefore reducing our stress level!!! Thanks Chamira along with Chantel Sherrill, Jennifer Williamson, and Jamie Childress!

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  • author
    Duke T
    Mar 04, 2021
    Great service, good rate

    We closed on a refinance at a good rate, we thought it was good enough to don't even shop for better rates with other lenders. The process starts very easily online, once you are pre-approved and moving to the next step is when they actually review every single line of everything you submit and ask to clarify everything. On one side they are very thorough, which is good, on the other they should make it clear from the beginning that the first step online is just a basic screening that will require you to send them a ton more documents later on. All along we dealt with Chamira Watkins, she was very active and kept me informed of the status of each step via text, emails, and calls. From start to finish took about 2 months. Overall we would work again with Makeabeeline and recommend them because their team is very active in following up and staying on top of the process. Thnak you Chamira for your help!

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  • author
    TheloveUlove
    Mar 03, 2021
    It took little while to close it .But…

    It took little while to close it .But its smooth and didn't see any hidden charges .Definitely I like Beeline the way they process the loan.

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  • author
    Robert Miller
    Feb 24, 2021
    I researched for a week or so to get a…

    I researched for a week or so to get a good easy process to refinance. After reading many reviews I thought Beeline Loans would be great. I have an excellent credit score of 750-800, over $100,000 in equity, never have any late payments and wanted the quick simple hassle free experience. Come to find out quickly that this is not the company. If you want to be bounced around from one to another company agent every other week, impersonalized experience, lots of hassle, delays, no explanations, very long waits to your inquiries then be my guest. The process took two aggravating months of logging into a portal and email conversations with numerous case workers, was locked in with my rate twice, was approved twice, given 2 closing dates that passed and after waiting for weeks on the go ahead I logged back into the portal and it says "unsuccessful" no one has replied to my emails, no explanations, just waisted two months. Should have refinanced through my current mortgage lender. I would not waste your time with this company if you value time.

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  • author
    GR
    Feb 24, 2021
    I would avoid Beeline

    Just wanted to chime share my experience with everyone considering using this company. I would never recommend them, here's my experience: They have a flashy webpage and it appears to be faster and easier than some traditional lenders, but it's an illusion. After you get approved all the information they didn't ask you for earlier they simply ask for later. The biggest issue I had was documents I already uploaded they would request again. Considering the private nature of these documents I questioned where my "lost" personal info ended up. They didn't know and insisted I just send it again. When I spoke with them on the phone they were incredibly arrogant and offered no assurance that your personal data is protected. It also is also important to know they are nothing but a middleman and are simply shopping rates for you just like any other broker. Unlike your bank that wants to do business with you on a regular basis, their goal is in and out. In the end, the quote I got was ok, but nothing special and the experience with their website and staff was horrendous. I would never recommend them to anyone and suggest you find someone local, who protects your data.

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  • author
    John Piotrowski
    Feb 22, 2021
    Beeline is a great company to work with…

    Beeline is a great company to work with they made my refinance very easy. I worked with Abby Puntch and she was great always there to answer my questions and helped me through out the whole process.

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  • author
    Jim Gingras
    Feb 22, 2021
    What an amazing and painless refi of…

    What an amazing and painless refi of our home, from the beginning with Rebecca right up till the end with Casey, they were there every step of the way answering questions for us, highly recommend Beeline for sure!

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  • author
    Bruce
    Feb 02, 2021
    This company was excellent to work…

    This company was excellent to work with. They were professional. They said what they would do and did what they said. They kept their word. I highly recommend them.

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  • author
    Thach
    Jan 12, 2021
    The services were phenomenal

    The services were phenomenal. Answers are given when questions are asked

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  • author
    Mitch Moyer Mitch M
    Dec 20, 2020
    Beeline- Give The New Team A Chance- You’ll Be Glad You Did

    In preparation for my refinance, I did my homework on Beeline. Reviews reflected highly competitive rates along a new level of service led by tech savvy associates. Rebecca was my first point of contact and she was all that was described and more. Her customer service was through the roof and she put any concerns I had all to rest as I’m not the most knowledgeable person when it comes to uploading documents and using what is now basic tech skills. She was customer friendly, always reassuring and best of all, always accessible on short notice. Rebecca transitioned me to Greg who was equally personable and deeply knowledgeable about the process, the expectations, traditional customer worries and the nuisances of successfully bringing such an important step in life to a successful conclusion. And, Greg helped us do just that and in a joyful and timely manner. Special Kudos to this outstanding professional as he worked tirelessly and at times of the day that I’m quite certain that others in his industry had already called it a day. In my way of thinking and from this highly successful experience, once again it demonstrates it’s always about the standard and expectations in regard to communication and follow through along with the “A+ Attitude” of those on the front line, that makes all the difference in the world. Rebecca and Greg made a lasting and positive impression with their people and technology skills in route to making life better for me and my family. GO BEELINE - YOU’RE NUMBER ONE ON THE CHARTS!

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  • author
    Mary Carole McCauley
    Dec 20, 2020
    Low rates, great customer service

    Beeline is a new entrant in the mortgage biz, but if they can keep doing business the way they’re doing it, I worked with them for only a few weeks because of prior commitments to a different lender. But, I’d work with them again in a heartbeat. They’re smart, they’re honest, they do what they say they’re going to do when they’re going to do it, and they’re extremely accessible. Their rates are unbeatable, their closing costs are low, and Evan Zalios was even able to obtain a waiver for a refi appraisal — something three previous lenders were unable to achieve. It’s a winning combination. Moreover, the nature of the mortgage biz (you’re in and out in 30 days and don’t pay most costs until closing) makes working with them low-risk, at least for a refi. Even their website is appealing and extremely user-friendly. I’ve been singing their praises to family and friends.

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  • author
    Pierre Lipton
    Dec 02, 2020
    Best rates on the market

    Incredibly impressed by Beeline’s rates and commitment to being competitive in the marketplace. They put customer happiness first, and you can feel it.

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  • author
    Cody
    Oct 20, 2020
    Hands down best mortgage interaction!

    Beeline originated my loan at a great rate and the closing was smooth as ever. I was put at ease with their customer service and care during what is typically a hassle of a process. It really felt like you had someone there for you at all times. All team members working the loan from start to finish were great! I'll continue to return to Beeline for all of my mortgage needs!

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  • author
    Dan Sklar
    Oct 14, 2020
    My experience with BeelineLoans was a breeze!

    My experience with BeelineLoans was amazing. The entire process was a breeze and the added personal touch removed all of the challenges we all have learned to expect! Great Job!!

    ...

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