Uploading Your Loan Estimate FAQ's
A Loan Estimate contains the exact pricing of your mortgage. By uploading it, BANKIRR can introduce real-time pricing from over 30 lenders and directly improve the structure of your loan. This section explains how your information is used, how the process works, and what to expect after submission.
1. Why are you asking for my Loan Estimate?
Your Loan Estimate allows us to see exactly how your mortgage is priced. From a single Loan Estimate, we introduce real-time pricing from over 30 lenders to compare and improve your interest rate.
2. Is my personal information safe?
Yes. Your Loan Estimate is treated as confidential financial data and is used strictly for pricing analysis. Your information is not sold or distributed for marketing purposes.
3. What information do you actually use?
We focus on the pricing components of your loan:
- Interest rate
- Discount points
- Lender credits
- Loan structure
Sensitive personal identifiers are not required for analysis.
4. Who will see my Loan Estimate?
Your Loan Estimate is reviewed only by licensed mortgage professionals and the BANKIRR research team. BANKIRR operates under NMLS ID 2507388 and executes loans through a licensed mortgage broker (NMLS ID 1429243) via a technology partnership with Morty Inc.
5. Are you selling my information to lenders?
No. Your Loan Estimate is not distributed broadly. It is used to generate targeted pricing comparisons across lenders to improve your loan.
6. How does this help me get a lower rate?
Your Loan Estimate becomes the starting point. We introduce competing lender pricing, adjust structure and credits, and refine the loan until a lower interest rate is achieved.
7. Do I have to commit if I upload my Loan Estimate?
No. Uploading your Loan Estimate does not obligate you to proceed. It simply allows us to evaluate whether a lower rate is achievable.
8. How do you get paid?
Our compensation comes from the lender when a loan closes. Borrowers do not pay us for submitting a Loan Estimate or for the research and pricing work performed.
9. How long does it take to receive a response?
Responses are typically emailed to the address provided with your Loan Estimate within 24 hours.
10. Can I redact information before uploading?
Yes. You may remove personal identifiers such as Social Security numbers or account numbers. As long as loan terms and pricing details remain visible, we can complete the analysis.