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Rating by Finanso®

The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.



About lender

LoanSnap is a mortgage lender that focuses on finding methods to save money by considering your other monthly costs. It's a mortgage loan that uses AI to quickly assess a customer's financial situation and provide tailored recommendations for difficulties like high debt levels and other typical economic challenges.

After acquiring DLJ Financial, an Irvine, California-based mortgage lender, LoanSnap was born in 1998. DLJ Financial had been in business for almost 24 years. The company's headquarters are in the thriving tech hub of San Francisco, but its current location is in Costa Mesa, California.

The company considers the customer's need for a fast turnaround time or the cheapest mortgage loan rate with their smart loans. It takes into account the mortgage rate and processing time when serving a client.

LoanSnap facilitates the acquisition of smart loan mortgages, refinancing loans, and home equity lines of credit in 30 states. According to LoanSnap, their clients saved over $80 million in 2021. Currently, LoanSnap is only available for condominiums and single-family homes. No manufactured or business properties are included.

Pros and cons


  • Present in 30 states
  • Offers a wide variety of lending programs
  • Advice from professionals
  • Includes both detached and attached residences
  • Provides "Smart Loans".


  • Availability varies by state

  • An absence of resources on the Internet.

Terms and conditions

On its website, LoanSnap does not disclose any information on rates or fees. You must apply LoanSnap either online or over the phone to obtain information regarding your rate. At this time, they have been granted licenses in the following states: Arizona, California, Oregon, Pennsylvania, Colorado, Florida, Georgia, Illinois, Texas, Washington, Iowa, Kansas, Ohio, South Carolina, South Dakota, Michigan, Nebraska, Tennessee, and Wisconsin.

Mortgage refinance

There are two different refinancing options available through LoanSnap. If you carry out a standard mortgage refinance, you can replace your existing mortgage with a new loan with a reduced monthly payment. It will allow you to save money over your loan's term. With a cash-out mortgage refinance, you can free up the equity in your house and put the money toward other obligations, such as paying off credit card debt, if you like.


A Home Equity Line of Credit, often known as a "HELOC," is a line of credit with a low-interest rate that functions like a credit card, but the value of your home secures funding. If you want to acquire more financial freedom, renovate your kitchen, and pay off high-interest credit cards, you may consider applying for a home equity line of credit (HELOC). It provides you with the financial flexibility to do things like rebuild your home or pay off your credit card debt, and the only thing you have to pay back is the interest rates on the amount you borrow.


Mortgage smart loans are available from LoanSnap and come in various types, including FHA loans, VA loans, and nonconforming loans. After you have been pre-approved for a loan, the preapproval letter that you receive from LoanSnap can be used to demonstrate to a property seller that you can borrow the money that is required to purchase a home. You can use this letter to verify that you can borrow the necessary funds to buy a home. Veterans of the United States are entitled to receive funds from the Department of Veterans Affairs (VA). They make it possible for veterans to buy a house with no money down and without paying for private mortgage insurance. LoanSnap also assists our nation's veterans through the LoanSnap Operation Home Foundation. This organization helps former members of the United States armed forces and their families as they readjust to life in civilian society.

Funding a loan

You can begin your experience with LoanSnap either online or over the phone. To start, you will be asked a series of questions designed to help the organization better comprehend your present level of financial situation. After that, it will present you with a mortgage, refinance, and home equity line of credit choices tailored to your requirements and potentially save you money.

After you've decided on a loan, the organization will walk you through the rest of the procedure and keep you updated. They will only require those documents that are completely necessary. Suppose you had the following experiences or fall under any of these categories. In that case, they may require additional documentation from you: changed your name, are self-employed, have been divorced, or own property that is subject to liens. You can receive the money by receiving a check in the mail or wire transfer.

The time it takes to receive funds after they have been funded can range anywhere from three to eight business days. In general, it takes three to eight business days for mailed checks to arrive, although wire transfers might take anywhere from one to three business days. If, after eight business days, you have not received anything, don't hesitate to contact LoanSnap at the following number: 888-680-5777.

On their website, LoanSnap does not disclose the hours they are open for business; nevertheless, you can always contact them by calling (888) 680-5777 or emailing


What is LoanSnap?

LoanSnap is a mortgage lender that offers options based on the borrower's financial situation. They consider more than simply the lowest interest rates to determine your best option. You may have student loans or credit cards, which will affect your total monthly bill payment amount. They will show you where you are at this moment and where you may go in the future, enabling you to avoid losing money and receive the most advantageous mortgage, home equity line of credit or refinance option for your specific monetary circumstances.

What loans does LoanSnap offer?

LoanSnap has options for refinancing, home equity lines of credit (HELOCs), and mortgages that help you get more money in your pocket. Its goal is to help every American improve their finances.

Is it safe to use LoanSnap?

One of LoanSnap's main concerns is ensuring the safety and confidentiality of your data. For further details, please review their Privacy Statement. They've helped consumers get smart loans in states including California, Illinois, and Florida, and they comply with all applicable federal and state regulations. The lender's legal documentation and disclosures are available on their website.

Do I need an appraisal to apply for LoanSnap?

Yes. Appraisals are often conducted during the closing phase of a property purchase or refinance. Lenders typically require it to ensure borrowers aren't paying too much debt when purchasing or refinancing a house. The deal's closing could be delayed if the home's appraisal comes in lower than the contract price and the LoanSnap only lends up to that amount. The closing process will proceed if the appraised value is equal to or higher than the contract price.

Company documents

Terms and Conditions
Privacy Policy
Licenses and Disclosures

Our Mission is to improve every American's financial situation.

© LoanSnap

Calculate loan payments at LoanSnap

LoanSnap calculator will allow you to calculate an approximate payment schedule for the loan

LoanSnap calculator
Interest rates are given in accordance with the rates of the LoanSnap in Washington, D.C. as of 01.10.2022
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What to focus on before applying for a loan with LoanSnap

To ensure the lender is legitimate, check if it meets the following criteria:

How do you know if a loan company is registered?

The lending company is registered with the US Securities and Exchange Commission (SEC) and has a tax identification number (EIN). Note that tribal lending companies operate under the jurisdiction of tribal laws, and they don't have to register with the SEC. But still, tribes must act under federal consumer protection laws enforced by the Consumer Financial Protection Bureau (CFPB) and Federal Trade Commission (FTC).

According to the FTC requirement, the lending company is registered in your state, excluding tribal lenders abiding by tribal and federal laws only. That is why tribal lending companies can charge interest rates exceeding your state's maximum.

Finally, the State Attorney General can verify the registration of the lending company if you need additional proof of whether it is legitimate.

If a US lending company scams you, please report to local law enforcement, your state attorney general, CFPB, or FTC.

Finanso® also recommends

Learn the total cost of a loan, including:

It will be best to read a loan agreement carefully before signing it. If any part of the agreement seems incomprehensible, do not hesitate to ask the lender about particulars.

Remember that you don’t have to make an immediate decision when considering getting a loan. However, you must be sure that you are ready to repay following your loan documents. If the lender’s terms and conditions are uncomfortable for you, you are free to search for another proposal, as there are about 780 lending companies in the US.

What’s the difference between LoanSnap and a bank?

  1. You need to have a good credit history to qualify for a credit card with a bank. In contrast, even bad credit history debtors can borrow money from US lenders with personal or payday loans. 
  2. Interest rates and annual percentage rate for a loan with an online lending company are significantly higher than with a credit card released by a bank.
  3. Applying for an online loan with a lending company doesn’t require paperwork or even visiting their office. Instead, a borrower can apply entirely online and receive money via direct deposit on the next business day.
  4. The online lending business is high-risk for investors, and their capital is not protected from unfair borrowers.
  5. A loan with legitimate loan companies for bad credit is a simple but expensive form of borrowing to resolve financial hardship.
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