LoanSnap
Reviews and Complaints

LoanSnap started a $300K loan on a $2.3M property for me in the beginning of Aug 2020 and drug me along with excuses as to why they weren't closing and as of Oct 12, told me it would be at least another 30 days. Wife and I both have 800+ credit and high income with this as our only debt. Terrible service, full of excuses and I finally cancelled the loan for lack of progress and now face new ***/*** fees. Stay away from this firm, they are the worst I have dealt with in 30 years.

These guys are the absolute worst and deserve "zero" or "negative" rating. I started my loan application with LoanSnap on 07/14 giving all the documents and stating our income to the last penny and today (10/02) I get a call, they can't do my loan. All the documents were submitted before 07/20 and we signed off the initial edisclosures on 07/20. It is ridiculous they inform me after 81 days that my loan can't be done. LoanSnap is absolutely the worst. STAY CLEAR OF LOANSNAP.

We would not recommend this company for anyone we feel they are an illegitimate Mortgage Company that does not follow proper protocol did not return phone calls. They did not communicate properly. They accepted all of our loan information and bait and switch us to push out there inadequacy of closing a loan. We have excellent credit and after 8 to 10 weeks of waiting, we stopped negotiations. We're disgusted. they should not be allowed to treat consumer's this way we will never do business with them we feel they are inept and possibly corrupt.

Don't waste your time attempting to acquire a mortgage or refinance with SnapLoan. They will not deliver on the loan they promised you! My FICO score 842 out of 850; Loan to value of home 50%; income to expenses - 25%. And enough money in the bank to payoff my current mortgage if I choose to. LoanSnap immediately approved my loan, cleared Title search but when it came to delivering the no / low cost refinance mortgage - they no longer responded to my phone calls or messages! Two plus months waisted sending documents back and forth. Don't let them scam you!

Don't be fooled! I would give LoanSnap a 0 review if I could. They promised a quick turn-around time and even with the large number of people wanting to refinance, it should have taken 60 to maybe even 90 days. It has been 5 MONTHS and then I was told it would be ANOTHER 30-60 days before they could complete everything even though I had already reviewed my closing documents. I ended up going with a different lender even though that will still take 60 days, just so I don't give LoanSnap any of my money. In addition, it is ridiculously challenging to get in touch with someone and get answers. Walk away!

LoanSnap offers competitive rates and very poor service. While making commitments and charging fees they have not followed through on a simple refinance for many months. As the customer I have met all of their information requests in a timely fashion and followed their loan process to the letter. I suspect they look at retired persons and don't know how to handle their loans and are using passive aggressive approach - hoping I will just go away. To put this in a time context - I have been trying to reach LoanSnap for greater than 60 days - via email, through their Title Company (***) and voicemail. The only response I have had have been through their Title company trying to get LoanSnap to respond or move this forward.

LoanSnap was so easy and no pressure for my refi. *** was amazing and even called me on her day off while with her family to answer my question. I could hear her kids in the background. Using the portal was a breeze and I was able to upload the documents within hours of it posting. My closing was delayed by a few days because the title company was backed up. Everyone and their mother were refinancing to get the lower rates. By far the lowest closing fees Ive ever seen. My current bank thought I was making it up to try to get them lower. The rate was great too. Was the same rate as what my current bank was offering. Other lender offered 0.2% lower but with $6,000 in points. No thanks. LoanSnap you helped me save a ton by paying off my credit cards with my refi. *** you are the best, after my wife of course!

The original experience was very easy (uploading documents, etc.). I am very organized; so, I uploaded all items needed with 1-2 hours of their request. I also have been very responsive to any other requests in kind. The closing was supposed to be tomorrow (July 15), according to the loan disclosure; however, now the company is telling me the closing will not even be next week and I will not receive the funds until 3 business days after! The 15th magical business day is Tuesday, July 20. We will see if they actually follow through on their $500 "closing guarantee." Being a former realtor and investor since ***, I have purchased and refinanced many homes and I have yet to ever have a closing surpass the projected dates on the closing disclosure statements. I am very disappointed with the performance of this company and I am at best suspect of their "closing guarantee."

LoanSnap at first seemed like a reasonable lender to work with. Their promise of technology to speed the promise along coupled with *** partnering with them hasn't really helped. They have the WORST customer service. I got a few calls from a lending rep who was to be with me throughout the process. She stopped responding to emails and phone calls well after the initial disclosures were released. The only good thing was the scheduled an appraisal on my home quickly. They charge a hefty $475 for the appraisal, eventually gave me a copy of it after repeated calls after reaching someone else. I since moved to another company for the refi. While they have a copy of the appraisal, LoanSnap has yet to officially release the appraisal to the other lender. Kind of dirty. Very much disappointing overall. It seems they are not ready for primetime. Apparently out of reviews, this is not a new assessment. I've found one review that made it through with LoanSnap at all.

0 stars but that wasn't an option. LoanSnap, Inc. is the worst refi or loan company I have ever gone through. First they misled me by stating they close within 25 days, it took 90. Then they didn't handle anything I spent a lot of time up front explaining until AFTER I had a chance to review the closing papers and noticed that entire topic was COMPLETELY ignored, which then delayed the closing another week. I had to BEG many times for them to use the coupon they send through SoFi. I do understand these are difficult times with COVID and the interest rates are currently low, but they could have given me more realistic timelines along the way, instead a manager told me I would close before a date, and when that date came and went, she said there was NOTHING she could do. With loans it is really hard to back out because the process does take a while and if you back out along the way you know the clock will start over and that was NOT an option for me, so I stuck it out, but it was painful!

So this was my first refinance. On top of that, we were planning on taking some cash out for renovations. I was also nervous with non local mortgage brokers. So these were some big hurdles to overcome, and LoanSnap delivered. I'm a big fan of the phrase "if it's too good to be true, it probably is"; but LoanSnap was able to get my refi done, with a significantly better deal when it comes to rates/closing costs than their competition. I think I read the documents 100 times in disbelief they could do so much better. Full transparency, I am a highly qualified applicant on paper - which always makes things easier but this company was above and beyond that. My consultant was very communicative, and their portal was so easy to manage documents and everything else. If there's a way to make this process easier, I haven't heard of it because this was dead simple.Oh yeah... and closing timelines were incredible. Had cash deposited in less than 15 working days, incredible.So to sum it up, these guys are legit, easy to work with, and built for speed.

I'm confused as to how others had such a bad experience with LoanSnap. It seems the low ratings were mostly due to a long processing time of their loans. However, I had the opposite experience and was able to close in a very short time. Wanting to take advantage of the current low rates, I shopped around for my home refi with cashout, looking for the best rates with the lowest closing cost and the greatest cashout value. (To keep track of the flood of offers, I used a spreadsheet; this approach is the best way to make side-by-side comparisons) LoanSnap was among the offers from the many loan services. What differentiated this offer was LoanSnap loan officer, ***, saying she could close me in 15 days! Other loan agents were just as skeptical when I mentioned it and said 15-days was not possible. (LoanSnap's low reviews on this site would seem to attest to this.) However, LoanSnap did provide the best rates, the lowest closing cost, and the highest cashout offering. Competing loan officers also requested a copy of LoanSnap's Loan Estimate to see if they could beat it. LoanSnap's Loan Estimate was the best in the field of offers, so despite the naysayers and the bad reviews, I took a chance with *** claim of a quick closing date. After uploading all my supporting documents via their website, I started the countdown. As a relative newbie in the Refi Arena, I had many questions and concerns. *** was very patient in answering my questions, and addressed my concerns via LoanSnap's website chat application. The chat application was helpful in keeping track of the historical events of the loan process, although a print or download feature would have been helpful. An edit-post-before-submit or a wrap-around entry window would also be helpful for the user to view his entire entry, and make changes before submitting his chat entry. Access to a live answer desk would be an added benefit. True to *** claim, 15-days and many forms filled-in later, I was sitting at my dining table signing the closing documents with a notary! Two days later my cashout was deposited by the title company into my account! I'M GLAD I TOOK THE CHANCE WITH LOANSNAP! THANK YOU ROZIE & THE LOANSNAP TEAM! Perhaps for borrowers concerned about a timely closing, they should pursue multiple loan services, close with the fastest winning horse, and cancel the other horses for their unresponsive service.

I was lookin' for a loan and stumbled upon LoanSnap. At first, I was skeptical 'cause I ain't never heard of 'em before. But I decided to give it a try and boy, am I glad I did! The process was super easy and quick. I just had to answer a few questions and bam, I got my loan offer. Plus, they gave me personalized advice on how to pay off my debt faster. Ain't that cool? I highly recommend LoanSnap to anyone lookin' for a loan.

LoanSnap is a real pain in the neck. I've had problems getting them to respond to my questions before. We got an impounded account for insurance and property taxes, and now we're getting notices saying we haven't paid our property taxes. We might even get a bad mark on our credit report. I want to know if they're going to pay it or not. If we pay both October and April at the same time, how do we get our money back? The taxes are for our house. They're just terrible. They never call back, they don't answer emails, and one time I waited on hold for over an hour and then they just hung up on me. It's really stressful.

LoanSnap is a great way to get a loan. They make it easy to apply and get approved. I had some trouble with my credit score, but LoanSnap was able to help me out. They gave me a loan that I could afford and helped me get back on track. I would definitely recommend LoanSnap to anyone who needs a loan. They are fast, easy, and reliable.