Equity Loan Exchange was created to provide consumers with access to every major mortgage loan product on the market in a single powerful location. Along with this unparalleled product selection comes real-time market based pricing, same day rate locks and among the fastest execution in the industry.

KBDM
Knowledge Based Decision Making. It’s at the heart of ELX’s customer-focused philosophy for loan origination. Simply put if a lender isn’t showing their borrower the mathematical difference in borrowing costs between every applicable loan product in the market, they are denying them the ability to make a fully informed financial decision. Worse still, they are potentially exposing them to opportunity costs that can run into tens or hundreds of thousands of dollars over the course of many years. At ELX, we provide our clients with a detailed amortization comparison of every applicable loan product so they can easily identify the loan instrument that empirically maximizes their net worth over time.

Chess not Checkers
Index rates drive mortgage rates. This simple truth impacts the cost and profitability of every mortgage loan, yet most lenders never mention them let alone offer their borrowers a choice of index-based loan products. At ELX we realize that index rates react differently to prevailing market conditions, and that one
mortgage product’s pricing may rise in the market at the same time another’s is falling. In this context, obtaining a comparative basis for your 6 figure financial transaction isn’t just a luxury- it’s absolutely vital to ensuring that you receive the maximum return on what is after all “your biggest investment”.

Structure Matters
While the note rate of any loan is an important driver of borrowing costs over time, it is just the tip of the iceberg. For shorter term requirements a lower note rate may cost more than a “no cost” loan at a higher fixed rate, since the borrower wouldn’t hit the “break even” point on their settlement costs over the expected term. Keeping one’s low fixed rate 1st mortgage by taking out a 2nd position loan or HELOC may be a great option, but it must be verified that the new Blended Rate is actually lower than the APR on a 1st position consolidation. Refinancing one’s “obsolete” rate can look good on the surface, but if the borrower is far enough into the term of the old loan their “effective rate” may actually be lower than the new “lower” note rate. And refinancing your Jumbo loan to a new tandem loan structure (1st and 2nd) may be a clever way to eliminate higher Jumbo rates for the majority of your existing housing debt. If your lender doesn’t compare each of these outcomes, your outcome is likely to be a lot more costly.

Don’t “Bet the Mortgage”
Given the dynamic nature of market-based pricing and the impact your mortgage transaction will have on your net worth
over time, you owe it to yourself and your loved ones to let us assess your lending requirements against the entire market. Nobody measures more relevant data points, or compares more index-based loan instruments than ELX. If you believe in Knowledge Based Decision Making as we do, you literally can’t afford not to talk to ELX about a free amortization comparison on your current or proposed mortgage requirements today.