LoanSnap Launches VA Smart Loans & Charitable Foundation to Support U.S. Service Members
Makes Home Ownership More Affordable, Accessible for Vets & Their Families; Foundation Lets Any LoanSnap Customer Support Veterans' Programs at No Cost
SAN FRANCISCO, Nov. 15, 2018 /PRNewswire/ -- LoanSnap, the smart loan technology that uses AI to analyze a person's entire financial picture to provide smarter loan options, today announced the launch of VA Smart Loans, a new LoanSnap service designed to provide personalized mortgage options to help U.S. service members take charge of their financial future. In tandem, LoanSnap also launched Operation Home Foundation, a new charitable foundation to support U.S. military veterans and their families as they transition to civilian life.
LoanSnap's new VA Smart Loans program streamlines the Veterans Administration (VA) mortgage process using LoanSnap's smart loan technology. With interest rates as much as 0.625 percent lower than other loan types and no prepayment penalties, the VA Smart Loan program makes owning a home more affordable and accessible for service personnel and their families.
Eligible active or retired military personnel can secure a new mortgage or refinance an existing mortgage through LoanSnap with no down payment and no monthly mortgage insurance premiums or PMI, helping to dramatically lower closing costs and the barrier to financial security for service personnel and their families. For those looking to refinance an existing mortgage, the program provides two options. Veterans with existing VA loans can refinance to lower their monthly payment with a new interest rate. Or, eligible service members with a non-VA mortgage can refinance through LoanSnap's VA Smart Loan program to lower their monthly payments.
LoanSnap will donate 1 percent of the proceeds from every VA mortgage to Operation Home Foundation for one year, which will hand-select the charity that demonstrates innovative and effective ways to support veterans and their families. The Foundation is guided by a newly appointed board of directors, which includes LoanSnap co-founder and CEO Karl Jacob, United States Navy Master Chief Special Warfare Operator (SEAL) Ronald Culpepper (Ret.), and Strike Fighter Wing Atlantic Commander Kevin McLaughlin.
For conventional consumer mortgages, individuals who support veterans and their service may also choose to have 1% of the profit from their mortgage transaction donated to the Foundation.
"Providing access to housing worthy of their sacrifice and service is critical for veterans who are returning home from active duty," Command Master Chief (SEAL) Culpepper said. "That's why I'm proud to work with LoanSnap, which has already helped thousands of vets and civilians alike take control of their financial future. Now, we're doubling down on that assistance by giving back and empowering Americans to do the same to support the men and women who protect our freedom and keep us safe."
For the average consumer, understanding the full range of options to improve financial security is a challenge because conventional mortgage providers only care about the mortgage itself, and don't take other factors like credit card debt into account. This is often worse for veterans, who frequently return to civilian life only to discover that their families have struggled financially in their absence, sometimes racking up substantial debt in the process.
LoanSnap solves that problem with a smart mortgage solution that uses artificial intelligence to analyze a customer's complete financial situation in seconds to help them save money. With LoanSnap, customers can consolidate credit card debt with their mortgage to slash ten or more percent off their interest rate and save thousands of dollars each year.
"When our veterans return home, they have an immediate need to understand their financial situation and make smart decisions," Jacob said. "Their home loan is one of the most powerful tools they can use to make sure they land firmly on their feet when they return from active duty. Our service makes the process extremely fast, easy and secure, and now we're adding this extra layer of support to show our vets and their families how much we appreciate their sacrifice."
Each year, the foundation's board will select a veterans service organization as a benefactor with an eye toward those that demonstrate innovative and effective ways to support or improves quality of life for veterans and their families.
Every new LoanSnap customer can participate in the Operation Home Foundation program by simply opting in to have 1% of the proceeds from their mortgage loan directed to the foundation during the closing process.
For more information or to get started with LoanSnap today, visit www.goloansnap.com.
About LoanSnap Inc.
LoanSnap invented the world's first smart loan technology that uses artificial intelligence to analyze a person's entire financial picture and shows simple ways to benefit from a smarter loan now and into the future. By working with LoanSnap, users can save money, time and feel confident that their home 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.
MEDIA CONTACT:
Kayli Berlin
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SOURCE LoanSnap Inc.
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