SAN FRANCISCO, Sept. 10, 2019 /PRNewswire/ -- LoanSnap, the world's first smart loan technology, is now available to help consumers in Florida and Illinois save thousands of dollars a year on their mortgage and take control of their money. The expansion comes as part of LoanSnap's commitment to bringing smart loans to more Americans, with offerings now available in multiple states, including California, Colorado, Florida and Illinois.
With LoanSnap, anyone can use their mobile device to get a free financial checkup and see where they might be wasting money by paying high interest rates on credit cards or their mortgage. LoanSnap then offers multiple options that help users take control of their finances, reduce monthly bills and lower their overall debt. LoanSnap even helps users stay on top of their money situation with alerts about opportunities to save even more, long-term financial analysis and a staff licensed mortgage specialists who can answer questions and help keep users on track to meet their goals.
Unlike conventional banks and mortgage companies that offer every customer the same loan, LoanSnap analyzes each customer's complete money situation in seconds. Its real-time artificial intelligence technology then offers personalized options, including debt consolidation, that can help them save based on their unique financial goals.
LoanSnap's expansion comes at a pivotal time for the American economy. Interest rates have dropped giving many Americans a unique chance to improve their money situation. With Americans losing $58 billion in 2017 because they didn't take advantage of the opportunity to refinance their credit card debt to a lower rate now is the time.
"The good news is that the economy is doing well right now, but we all know that it may not always be so rosy," said Karl Jacob, CEO and founder of LoanSnap. "That's why it's a perfect time to invest in a new home or consider refinancing and consolidating credit card or other debt. With LoanSnap, we don't just sell you the lowest interest rate like other lenders — we look at your entire money situation and give you options that save you the most money across the board, today and in the future."
For example, a traditional lender might offer a 4% interest rate on a home loan, which seems like a great deal. But, if the borrower has credit card debt, that averages a 14% interest rate, they could still end up paying thousands of dollars a year in credit card interest alone.
Instead, LoanSnap looks at a customer's complete money situation and gives borrowers the option to consolidate credit card debt with a new mortgage or refinance in order to lower their interest rate. This could save families hundreds or even thousands of dollars each year and help them improve their overall financial stability.
To get started, customers simply enter a few pieces of information and LoanSnap's artificial intelligence technology analyzes their money situation and sorts through thousands of options to identify the best choice in just seconds. Consumers can choose from easy-to-understand options like "pay off your credit card debt and save $580 a month," or "save $766 per month by lowering your loan payment."
LoanSnap's revolutionary approach to lending has the potential to save Americans tens of billions of dollars each year, and the company's reach is growing.
"We're ready to help more Americans make better decisions about their future, and with LoanSnap, we've made the lending process incredibly fast and easy," Jacob said. "We look forward to bringing smart loans to more states in the coming months."
About LoanSnap Inc. LoanSnap invented the world's first smart loan technology that uses artificial intelligence to analyze a consumer's current money situation and alert them to opportunities that create an improved financial future. LoanSnap examines thousands of loans quickly and presents users with options in easy-to-understand terms based on customized benefits. With LoanSnap, users save money and time and feel confident that their smart loan will safeguard their financial needs. Visit www.goloansnap.com or download the iOS and Android apps to get pre-approved smart loan options now.