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| LoanApp Star Ratings |
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Home Equity Loans are simpler to find now than ever before. The power of the web allows you to enter your information into a simple web page and wait for the lenders to come to you. When the Star Reviews team began to compare home equity loans we came across the LoanApp site and knew we had to include them in our reviews. The website was very basic, yet appeared to be intuitive, so we decided to give them a go. Here’s the scoop on LoanApp.
What's New with LoanApp?
- Lenders for people with less-than-perfect credit or special credit needs.
- Helpful market updates and loan calculators.
- Quotes from up to 4 different lenders.
Star Reviews' Favorite Feature:
The thing we like best about LoanApp isn't necessarily a feature – it's more like a business approach. Like many of the other home equity loan websites on the Internet, LoanApp.com is more of a matchmaker than an actual lender. However, unlike many of the other "matchmakers" we ran into on the Web, LoanApp is very up front and honest about this fact and they don't try to hide it. Honesty is everything in the world of finance and that's what makes this service perfect for those who would like to benefit from a local lender referral service rather than a direct online lender.
The LoanApp Experience:
When you go to the LoanApp website you'll notice there are numerous tools and resources to peruse. In addition to home equity loans, LoanApp.com offers quotes for mortgage loans and home refinancing. Simply select the type of loan you'd like a quote for and fill out LoanApp.com's easy 1-2-3 quote request form.
Unlike many of the other "matchmaking" sites on the Web, LoanApp doesn't act as though you'll get your home equity loan quote instantly. They are very up front about the fact that your information will be shared with local lenders and those lenders will be contacting you with rate information. If you prefer to work with local lenders and don't mind getting calls, this is the perfect solution.
The honesty factor really put LoanApp up a few notches in our eyes. Some of the lender referral sites we encountered never even bothered to tell homeowners that their information would be given to local lenders. These sites had homeowners believing they'd be getting instant home equity loan quotes online. Then, when those instant quotes are mysteriously "unavailable" the site informs the cosumer that someone will be in contact with them. LoanApp.com's honesty was truly a breath of fresh air.
In addition to integrity, LoanApp offers a great website. The layout was easy to navigate and the 1-2-3 form couldn't have been any easier to use. In less than five minutes you can be on your way to getting calls from local lenders ready to give you home equity loan quotes.
LoanApp Features:
- Easy 1-2-3 quote request form
- Informative home equity articles
- Helpful tools and calculators
LoanApp Customer Support:
Because LoanApp isn't really a lender and acts more like a referral service, customer support is a bit different. The level of customer service in regards to your loan will really depend on the specific lender you use. However, LoanApp does offer a helpful toll-free number where you can submit your home equity loan rate request to a live person rather than using their online web form, if that's the route you'd rather go. When we called the number our hold time was less than one minute and even though we weren't ready to give the rep our personal information, they were happy to help answer the questions we had about their home equity rate quote services.
Upside:
Honest website, easy 1-2-3 form, referrals to up to 4 local lenders that match your needs.
Downside:
Not a direct lender.
Summary:
If you're looking to be matched with home equity loan lenders, then LoanApp is a great resource to check out. While they merely connect you with the folks that can review your finances and help sort out a specific loan for you, they are up front about it and do a good job! The online form is very simple to complete and shouldn't take you too long. You will receive referrals for up to four local lenders matching your needs, so you have a great chance of receiving some competitive rates. There are lots of tools, calculators, and helpful resources here, as well. While direct financing questions should be relayed to your lender, LoanApp's telephone support was more than helpful, which we appreciated. They get a thumbs up overall!
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