Clear to close in 14 days
ICE tracks closings nationwide and puts the typical file at about 38 to 42 days. That 14-day number is the average for our files. We underwrite and fund here, so the file does not sit in some national underwriting hub.
NMLS 2591169 · Company 2647764
A better mortgage for first-time home buyers.
Buying your first house can feel complicated. The loan should not. I’m Rachael Smith, co-founder of Egan Financial Group LLC. We are a licensed Independent Mortgage Banker (IMB). We take the application, underwrite the file, and fund the loan in our own name.
Why I helped build this shop
A boutique team with full-service mortgage banking power.
Who is Rachael Smith?
I’m Rachael Smith, NMLS 2591169, co-founder of Egan Financial Group LLC (NMLS 2647764). Buying your first house can feel complicated. The mortgage should not. I take your application and stay on the file. The company underwrites and funds the loan in our own name.
What does a micro mortgage banker mean for you?
It means you are not handed off after you apply. We have the power of a larger lender without stadium ads and a floor of managers that raise the rate. I stay involved from the first call through closing. You have someone who knows your loan and will pick up the phone.
Why does underwriting experience matter?
I started as a processor — the person who gathers pay stubs, bank statements, and tax returns. Then I was an underwriter at a large lender. An underwriter is the person who decides if the loan can close. I have deep underwriter experience. I catch a problem while we can still fix it, not three days before you get the keys.
Direct-to-lender pricing
Egan Financial Group LLC is the lender. There is no broker markup and no corporate overhead built into the rate.
In-house underwriting
The file is underwritten here, to investor guidelines — not dropped into a national queue. If something is missing, you hear from the person who needs it.
Closings average 35 to 60 minutes
Most mortgage closings run 45 to 90 minutes. Ours average 35 to 60 minutes because we send the money to the title company in advance — no “waiting on the wire.”
Refinance
Reduced refinance fees for all of our customers.
When you close a purchase loan with Egan Financial Group LLC and you come back to refinance later, you get a $2,000 lender credit to offset your closing costs.
Loans
Purchase, refinance, and VA
Home purchase
Egan Financial Group LLC originates, underwrites, and funds home purchases. Start with how much house and cash you need, then a real pre-approval — not a letter based on what you typed in a box.
Learn moreRefinance
We refinance as the lender, not a broker sending your file to someone else. Rate-and-term, cash-out, and VA streamline. We run break-even in months before anyone orders a payoff.
Learn moreVA loans
We originate, underwrite, and fund VA purchase, cash-out, and IRRRL loans for eligible Veterans. Funding fee, Certificate of Eligibility, and residual income are a real loan file, not a brochure.
Learn moreMortgage FAQs
Answers you can actually use
The problem that brought you here. Where it goes wrong. What we do about it. How to get ready. Reviewed by Rachael Smith, NMLS 2591169.
ProcessAugust 28, 2026
What are mortgage points, and how do I watch for them in a low rate quote?
A point is one percent of the loan amount. Origination points are a fee for making the loan. They do not buy a lower rate. Discount points are prepaid interest: you pay cash at closing to lower the interest rate. A very low advertised rate often has those discount points hidden in the cash you bring to the table. Discount points can save you money if you keep the loan past the break-even month. They are a poor bet if you might sell or refinance before that, or if rates look likely to fall in the next few years.
Read the full answerProcessAugust 26, 2026
What is a Closing Disclosure, and when do I get it?
A Closing Disclosure is the five-page form with your final rate, payment, and closing costs. Its job is to let you compare those fees to the earlier Loan Estimate so a lender cannot sneak in last-minute charges the way some did in the 2000s. Federal law says you must have it at least three business days before you sign. Egan Financial Group LLC issues the Closing Disclosure when the loan is approved, so it is in your hands with plenty of time before closing.
Read the full answerProcessAugust 25, 2026
Can I use money from my business checking account for the down payment?
Sometimes, if you own the account and we can show the withdrawal will not starve the business. If we are also using your self-employment income, the underwriter looks at cash flow, not just the balance. A big outgoing transfer the week of closing can hurt both the company and the loan. Egan Financial Group LLC will not count business cash that makes the tax-return income unbelievable.
Read the full answerPurchaseAugust 24, 2026
How long do I pay FHA mortgage insurance?
FHA loans have an upfront premium plus a monthly premium called MIP. On a typical 30-year FHA loan with less than 10 percent down, monthly MIP lasts for the life of the loan. With 10 percent down or more, it usually stops after 11 years. That is different from conventional PMI, which can drop off when you reach enough equity. Egan Financial Group LLC will show both options with insurance included.
Read the full answer
Mortgage calculator
Estimate a payment before you apply.
Conventional, FHA, and VA. Enter the rate you were quoted — we do not invent one. Property tax is a starting point you can change. Compare three loans, roll debts into a refinance, or check rent versus own.
Headquarters
Aon Center
200 East Randolph Street
Suite 5100
Chicago, IL 60601
847-254-6472
By appointment, Monday–Saturday
- NMLS ID 2647764
- Illinois Residential Mortgage License 031.0086914
- Equal Housing Lender
- Originator & Co-founder: Rachael Smith