Growing your wealth takes time, but refinancing your mortgage is a great way to speed up the process and save money. Our CEO, Karl Jacob, shares why you should look for a mortgage lender that offers debt consolidation.
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.
Digital mortgage startup LoanSnap has a goal of getting a mortgage to close in a week by the end of the year; the company already closed 5 loans in 8 days this past June; “We’re automating and creating efficiencies,” said Karl Jacob, CEO, and Founder of LoanSnap, to Forbes. “We’re reducing the mountain of data you have to supply.”
Digital mortgages are becoming a more popular choice for consumers. However, the new startups do not fully understand the lending landscape, according to Karl Jacob, of LoanSnap as he explains to Digital Journal.
Applying for a mortgage, and closing one, can be a tedious process. Lenders must scan your credit reports and study your credit score. You’ll have to provide copies of such documents as your most recent pay stubs, bank statements and tax returns to verify your income.
How the founder of a fintech startup got backed by Richard Branson after pitching him while kiteboarding
Karl Jacob pitched his startup LoanSnap to Richard Branson during a kiteboarding trip and walked away with the billionaire’s backing for its $8 million Series A in 2018. Jacob was an early advisor to Facebook, and says his experience working in the early days of social networking reinforced his belief in taking bigger risks and bigger failures.
LoanSnap announced it has raised an additional $4.7 Million investment led by Thomvest Ventures and existing investors, bringing the company’s total financing to $17 Million.
Loansnap’s CEO Karl Jacob discussed with PYMNTS how Loansnap’s AI is transforming the mortgage industry.