LoanSnap gives you a clear view of your finances so you can see if you’re losing money every month to high interest credit cards and loans. Our 'Lowest Rate Guarantee' with match and improve any competing loan offers by $500! Our smart loans show you options that help put more money in your wallet every month and our loan experts guide you every step of the way. LoanSnap is your best option for a Refi, HELOC or Mortgage loan.
I applied for our home Refi in Early March . I was given a 2.99% interest rate by agent CDuong , then I was told that if I get a better rate in 2 was they can beat it. I was able to get a better rate @ 2.875 from another loan co. Mr. Duong was not able to go lower than 2,875 but just match the rate with the incentive of $500. Less from the loan cost. We agreed on the terms & the rate locked @2.875% with the loan to close on June 14 as indicated on his text mesg. We sent all the documents that were requested to CDuong . Then in early July he told me that our DTI WAS HIGH , surprised to hear that after 3 mos of waiting, they just figured that out when they have all our docs & excellent Fico. We sent him our latest tax return of 2019 that showed our higher income & he said in order to qualify I have to include in new loan our car loan of $210**. So I already agreed & he said all is fine now . All we had to do is wait for the final disclosures to be prepared by the underwriter & loan processor was told that they will send a notary for us to sign the docs. After 2 weeks I didn’t hear from The agent so I started calling to check when will we close, I can’t get hold of him but just left messages & text & when I call the office sometimes there’s someone who answers & when they check my account they said my loan looks good as per their supervisor , a lot of times it’s only a recording when I call but my calls were never returned. By July 30 my rate expired & that’s the only time I got hold of Charles , he seemed surprised that nothing was done on my loan. I was upset to know that they will charge extra since the lock expired.
This was the worst experience we had doing a Refi & definitely not going to recommend this company to my friends.
In a way it opened another door for us to look for a much better company that is now processing our loan with 2.75 % rate lock , our loan amount is only $351**0 compared to yours @ $379**0 bec you required to add the car loan in order to approve it.
Received an immediate text from a "Senior" Loan Officer who asked me to do a few things and I asked to set up a time to speak. She then asked me to fill out financial information and I asked for a little more guidance and was "ghosted!"
I texted back after the weekend and still have not heard anything. If this is how they start the beginning of the process, imagine what the actual process is like!!!
They make it seem easy up front by saving you time with the online application process (Which IS easy!) but after you go through the process you find out that what they quoted you wasn't near what they used to get you in the door. (I understand that they have limited information on the front end, but it APPEARS like they are just throwing low numbers out there to get you to click and apply, but I have perfect credit, 65% LTV, long employment record and plenty of cash to close, and I was still given much higher numbers.) They advertised on lending tree that there were no points, but the only way to get to the lowest rate (not even the low rate they advertised) was to make you pay points, (or prepaid int********.don't be scammed by poi*****.they are just making you prepay your interest at closing to make you think you are getting a lower rate).
Rate was higher, closing costs were double and to top it off they tell you that you can get $50 off of your closing costs for every friend that "vouches" for you. They don't tell YOU that they are going to ask your friends a lot of personal questions so they can make a "soft pull" of their credit to generate future leads. That literally ask your friends for permission to pull their credit!!! SHAME ON THE***.it made me look like a fool and I had to apologize to 10 different friends.
I asked them to permanently remove all of my information and to delete all of my friends information as well. They said they would, but we will see.
JUST BE UPFRONT WITH PEOPLE!!! Your website was great and made things easy, but the rest of it made y'all seem dishonest and shady. Lending Tree, you need to do a better job of screening your affiliates.
Complete bait and switch! My offer here through Lendingtree for a 30 Year Fixed is 3.058% APR with a cost of $1634. When you accept the offer it turns into 3.375%. While the cost is approximately the same, the APR is not even close!!!!! Why did I waste my time with this fake loan? Absolutely disappointed with LoanSnap as well as Lendingtree for allowing them to play this bait and switch game.
We’ve done several loans over the years and this was by far our best experience. Bradley gave us great advice and was always available to answer questions or address concerns.
LoanSnap is an online lending company that was founded in 2018, the same year it acquired the mortgage lender DLJ Financial. It is headquartered in San Francisco, and its lending operations are based in Costa Mesa, Calif.
Using a “smart loan” approach, LoanSnap offers financial analyses of borrowers’ circumstances beyond their homebuying potential. Once you upload your information to LoanSnap’s platform, you may be given options for how to reduce your debts and save on your monthly payments. The application algorithm accounts not just for your income and FICO score, but for additional debts, such as an auto loan or credit card balances. By analyzing the full spectrum of your finances, the system may be able to recommend loans that are more cost-effective than those you’d find at traditional lenders.
Cameron Findlay, LoanSnap’s senior vice president of secondary markets, described LoanSnap as “a technology company first and foremost” that emphasizes customer experience and speed to origination.
LoanSnap is licensed in the following states:
You can meet with loan officers in person at LoanSnap’s Costa Mesa location or call to speak with a representative to get started. Otherwise, the application process can be completed online. The minimum credit score required to qualify for a LoanSnap product is 560, and the lender does offer manual underwriting.
LoanSnap offers loans for the following property types:
LoanSnap partners with investors to reduce closing times on home equity products and will create custom programs based on a borrower’s unique needs. The company offers this assistance even to borrowers without excellent credit.
Borrowers who live in the Costa Mesa area can begin the application process in LoanSnap’s office where they will meet both their loan officer and loan processor, who will help them set up a digital account they can check at any time.
If you are not local to LoanSnap’s Costa Mesa office, you can begin the application process over the phone. The lender’s office hours are 7 a.m. – 7 p.m. PST.
You can also apply through the LoanSnap website or digital app. LoanSnap strongly encourages borrowers to apply via the site, app or phone, as that is the fastest way to receive their financial analysis and begin evaluating their options.
The first step in the website application is to give LoanSnap permission to access your financial information. The site will then pre-fill your personal data and information about your current mortgage if you have one. If you apply via the mobile app, you can upload a picture of your driver’s license, and LoanSnap will pre-fill your data based on what it reads there. Both options reduce the amount of time you need to spend inputting your data. This preapproval process occurs in under five minutes.
After you’ve begun the application, a loan officer will contact you to discuss your application and financial options. In addition to helping you through the loan process, he or she will discuss debt-reduction strategies, whether to pay down points to lower your interest rate and other potential strategies.
At this point, you’ll have the option to lock your loan, although you can also choose to lock at a later date. If you lock your loan but rates drop before you close, LoanSnap offers a float-down match so you can secure the lower rate.
LoanSnap offers e-signature options, but it does not support e-closing. However, Findlay said the company is working toward offering e-closings in the future. LoanSnap will work with you to find a convenient time for your closing. Most LoanSnap loans close within 20 days.
During the process, your application will be transferred to a loan processor who will request additional documentation needed to complete the loan. Once the loan processor takes over your application, he or she will be your primary point of contact through closing. After you’ve submitted your intent to proceed, you can work with the processor to order your appraisal.
While the loan is being processed, you can log into your account 24/7 to check the application status and find out whether there are any additional documents you need to submit. The processor will help if you’re unsure of where to obtain particular records or if you run into any other problems while completing the application.
Editorial Note: Parts of this article were reviewed by a lender to ensure accuracy prior to publication. The overall conclusions, recommendations and opinions are the author’s alone.