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Beeline Loans Mortgage Review: Using Tech to Make Mortgages Painless


In early 2019, a new mortgage lender was created, known as Beeline Loans, or Beeline for short. Their mission: to completely transform the home loan experience.

No small task, but they’ve already made meaningful changes that should make it both more fun and cheaper to take out a mortgage.

They say they’ve “removed pointless steps,” while automating others. And they don’t charge a pricey loan origination fee, nor do they pay out commissions to middlemen.

This is similar to Better Mortgage, which also doesn’t charge lender fees.

Let’s learn more about this up-and-coming mortgage lender that’s looking to shake things up.

Beeline Loans Fast Facts

  • Direct-to-consumer mortgage lender
  • Offers home purchase loans and mortgage refinancing
  • Founded in 2019, located in Providence, Rhode Island
  • Currently licensed to do business in 28 states and D.C.
  • Charge a flat $650 flat lender fee

Beeline Loans is a direct-to-consumer mortgage lender that was founded in 2019. They offer both home purchase loans and mortgage refinances.

The company is located in Providence, Rhode Island and are currently licensed to do business in 28 states and the District of Columbia.

Those states include Alabama, Arizona, Arkansas, California, Colorado, Delaware, Florida, Georgia, Illinois, Indiana, Iowa, Kansas, Kentucky, Louisiana, Maryland, Massachusetts, Michigan, Mississippi, North Carolina, Ohio, Oklahoma, Pennsylvania, Rhode Island, South Carolina, Tennessee, Texas, Virginia, and Wisconsin.

Getting a Mortgage with Beeline Loans

  • They offer a completely digital home loan process
  • First you build your borrower profile on the Beeline website by answering some basic questions
  • Only five steps that take around 15 minutes to generate a mortgage approval
  • Aim to close your mortgage in just 14 days as opposed to 45

The company says Beeline is “the shortest possible path to your new home or your refi.” By that, they mean they’re making it easier to apply for a mortgage and close the thing.

So they’re leaning on newer technologies, like the ability to link financial accounts such as bank accounts, pay stubs, and tax returns.

Apparently, the home loan application process is completed in 5 steps and 15 minutes. And once approved, they aim to close your mortgage in just 14 days, as opposed to 45.

After completing the five steps, two of which are listed as “nothing,” which appears to be tongue-in-cheek, you’ll receive your purchase-ready (mortgage pre-approval) or refi-ready approval.

The steps are mostly just providing basic information and signing up at Beeline, then linking all your financial accounts so you can see what type of home loan you qualify for.

Beeline says the entire loan application process is done online, and can be accomplished without speaking to a single human being.

But if you need assistance, you can always reach out to your Loan Guide at any time via phone, text, email, or DM.

What Types of Home Loans Does Beeline Offer?

  • Home purchase loans and refinance loans (rate and term and cash out)
  • Conventional fixed-rate loans and ARMs
  • Fixed-rate FHA loans
  • Fixed-rate loans come in terms of 15, 20, 25, and 30 years
  • Adjustable-rate loans come with initial fixed-rate periods of 3, 5, 7, and 10 years

At the moment, their loan offerings are pretty basic compared to the more established mortgage players out there.

They offer both home purchase loans and refinance loans, including rate and term refis and cash out refis.

But they don’t offer home renovation loans, such as FHA 203k loans, or construction loans.

Additionally, you can’t get a USDA loan or a VA loan from Beeline Loans, though that will hopefully change in the near future.

While they do lend on primary residences, second homes, and investment properties, financing is limited to fixed and adjustable-rate conventional loans and fixed-rate FHA loans.

They do offer financing on both townhouses and condominiums, and you can get a Texas Cash Out Home Equity Loan if you reside in that state.

They plan to offer jumbo home loans once the COVID-19-related market disruptions are behind us.

Beeline Loans Lender Fees

You should always shop around for your mortgage – simply getting one quote and calling it a day is not a good idea if you care about your money.

After all, the mortgage could stay with you for many years, if not decades, to come. This means it’s imperative to lock in a good price.

The company used to offer the Beeline Price Pact, where they would pledge to beat their competitors.

While this is no longer available, perhaps due to unsteady market conditions, chances are Beeline will offer you a competitive rate relative to the other guys.

And because they only charge a flat $650 lender fee, you should be in good shape in the closing costs department.

Beyond that, all they charge is $60 for a credit report and $9 for a flood certification, along with a third-party home appraisal.

Beeline Mortgage Rates

One great thing about Beeline is the fact that they advertise their mortgage rates right on their website.

So they get bonus points for transparency, seeing that many mortgage lenders do not openly disclose their rates upfront.

You can see mortgage rates for both home purchase loans and refinance loans, and you’re able to customize your loan scenario to get real pricing, as opposed to just an advertised rate for a vanilla scenario.

Additionally, they present you with several options side-by-side, such as the lowest monthly payment, a balanced mix of upfront costs and payment, and the lowest upfront cost in exchange for a higher monthly payment.

All in all, their mortgage rates looked competitive relative to other lenders, but take the time to shop around as always.

Beeline Loans Mortgage Reviews

Since they’re so new, they don’t have tons of customer reviews just yet. For example, they’ve only got 26 reviews on Zillow.

However, they have a 4.31-star rating out of 5, which is pretty solid. We should know more over time as the reviews grow in numbers.

There are also a handful of reviews from Facebook and Google featured on their own website, both of which boast 5-star reviews.

The good news is Beeline Loans, Inc. is an accredited business with the Better Business Bureau, and has been since late 2019.

They have an ‘A’ rating with the BBB, and 4.52 stars out of 5 based on roughly 50 customer reviews. Again, only a handful at the moment, but even more positive than what they have over at Zillow.

Beeline Loans Pros and Cons

The Good

  • Can apply for a mortgage directly from their website
  • Only charge a flat $650 lender fee
  • Use a completely digital home loan process
  • Advertise their mortgage rates online
  • Say they close home loans fast
  • BBB accredited

The Potential Not Good

  • Not licensed in all states currently
  • Limited loan programs available at the moment
  • Do not offer VA loans, USDA loans, jumbo loans, second mortgages, or HELOCs
  • Do not service the loans they originate

1 thought on “Beeline Loans Mortgage Review: Using Tech to Make Mortgages Painless”

  1. Trying to close a loan with Beeline now. I thought I would just make everyone aware that they do link accounts for pre-approval, but somehow the taxes are not. I have had to go in and upload many bank statements, pay stubs, w2’s, taxes, etc…I do not feel advertising is accurate. It is still a headache loading everything, and except for paper to hand a realtor with your offer, it does not save you time. They still request you upload docs. Just so you know, it is only paperless for pre-approval, not the rest of the loan. You will be gathering docs, scanning and uploading.

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