LoanSnap

HORRIBLE EXPERIENCE

Currently waiting over 100 days and the communication is terrible. I have a very difficult time getting in touch with anyone at Loan snap.

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Never gets finished

Started the refi process 3 months and 3 days ago. Was told due to volume it would take 35 days. It has now been 95 days and still not done. Not sure this company can close a loan. Awful service.

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Horrible Communication and Customer Service

I just cancelled my refinance request with LoanSnap after I wasted a month of my time with them. Most of their communication is done using their website and it is difficult to actually talk with a person. They have a chat window that is basically an AI bot that responds with an annoying canned response that they are processing your loan and to view their status page that does not tell you anything. If you want to talk with a person you have to go through a main number that no one seems to answer. The kicker for me was when they wanted me to provide my username, pin, and password to all my bank accounts. I had already uploaded a copy of all my bank statements, but they absolutely had to have all of my sign in information for my bank accounts or we could not proceed. No one should ever be asking for that information and you should never provide it to anyone no matter how often they tell you that the information is secure and they can't see it. That is computer security 101. I would avoid this company like the plague (or COVID) and go with someone else.

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Terrible Experience

After working with multiple people and receiving several phone calls for over 70 days with the same excuses on why we were not in underwriting as promised, we cancelled our refi and went with a different company with a better rate. we got Loan Snap all of the info that they requested on day one, then waited and waited and listened to all of their excuses. Most of the times we would receive two phone calls from two different people that said the exact same thing, so they were definitely reading from a script. Spoiler alert, here's what the phone call will sound like when you start getting them "Mr. X, we're calling with some bad news, you're going to think that we're idiots and don't know what we're doing, but it's going to be another 30 days before you are in underwriting. This is due to the backlog, the average closing time is around 60 days." You should get this lame call two times in a day from two different agents with the exact same wording. Then when you ask them why they say the average closing time is 60 days and we're currently at 70 days they just change the sub********.what a joke. What's really happening is that they make you a great promise to draw you in and then start shopping around to find someone to take the deal.
From day #1 we were closed in 23 days with the other company and they did exactly what they said they would and delivered on their initial numbers. Do not use Loan Snap unless you want to be jerked around with their lame excuses.......

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Fraud, Misrepresentation, and Lies

Put in my information on lending tree and LoanSnap was one of the companies to reach out.
As we were going through the numbers the representative came back and said, "you're not going to like this but the rates are higher than what is showing on Lending Tree." I asked why, given the my credit score is superb and I was getting EXACTLY the product advertised on the site. I was told that it just hadn't updated yet. I asked how, in the age of the internet, it could take any time at all to update and was told it was Lending Tree's fault!
So, I continue talking to get the details of the deal and then got a hard sell trying to force me to lock in, which I refused. Then I was informed of their "Price Match and Beat GUARANTEE" stating that if I found a better offer, they would match and even beat the costs by $500. I tho******.great*
So I went and found a better offer and asked them to meet it. I sent them the actual offer so they could see if for themselves. They came back and said, "that's a good deal, we cannot match it."
So, let's summarize:
1. They misrepresent their rates
2. They tell you they will match and beat when in reality they don't
Run awa****.fast* Don't waste your time.

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Outbidding game these guys are playing and wasting time after receiving your information on line

Provided Quote
2.341%
EST. PAYMENT
$1,258/mo
LOAN TERM
30 Year Fixed
But when I talked the loan officer, quoted $1332.00 monthly payment. Finally, loan officer tells that lending tree didn't update the quote currently.
Outbidding game these guys are playing and wasting time after receiving your information on line. I feel offended.

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Bait and switch

Spoke with a representative who flat out told me the rate you see on lending tree is not whats actually available at this time. He stated its most likely a couple of months old. Offered a much higher rate. I have an 800 credit score and 200,000 dollars in equity on a half million dollar home.

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