Frequently Asked Questions
Have a question? Here are answers to common questions. Discover the Smart Hippo online community where members compare and get the best possible mortgage rates and bank loans. If you have other questions, please contact support at smarthippo dot com.What is Smart Hippo?
SmartHippo.com is the first web site to use the power of the community to bring transparency to the financial services industry. How do you know if your mortgage rate is the best available? SmartHippo matches our member's profiles and by comparing rates, our members find the rates their looking for. We provide a forum to share stories and experiences that shed light on making better financial choices.
Okay, but why SmartHippo?
Why SmartHippo? Hippos spend group time at watering holes, have mud treatments, go wading, relax under water, and can outrun humans. Hippos symbolize success by living both in water and on land and follow set group patterns that lead to success.
Our idea: What would happen if people with similar financial profiles could compare rates they receive from banks? And what if they could know every time a better or lower rate was reported? Banking choices would change, making these big financial decisions actually fun and less intimidating.
What is the source for rates posted on SmartHippo?
Rates are reported by other members like you, as well as by banks and mortgage companies themselves.
If anyone can post rates, how do I know they are accurate?
Anyone who's ever shopped for interest rates knows that a bank's posted rates are not always the same as the actual rates their customers obtain. We think that by allowing anyone to post a rate, the rates you see on the site will be more accurate. But that's not all: Any rate submitted can be commented on and voted on by the community, weeding out inaccurate or misleading rates.
How does SmartHippo know which rates are for me?
Our search engine sorts members according the criteria that typically have an impact on interest rates: things like your credit score, where you live, and how much equity you have in your home relative to the amount you borrow.
What's the difference between Compare Rates and Get quotes?
Compare Rates lets you enter your loan criteria and then displays rates reported by the community that match those criteria. Get quotes allows you to enter your criteria and contact information, and then get instantly matched with up to four lenders who will contact you with a personalized offer. You're under no obligation to accept any of these offers.
Can I keep my privacy and still participate?
Joining the Smart Hippo community means you can maintain your privacy. Many members choose to remain anonymous. It is your choice. Your security and privacy are protected through our secure and encrypted channels. If you decide to use the Get Quotes feature, you will be required to enter your personal information so that lenders may contact you.
What does it cost to join SmartHippo?
Membership in the SmartHippo community is free. Our vision is to grow this online community by empowering our members to have remarkable experiences while saving themselves tons of money in the mortgage and loan process.
What do you mean by transparency?
We like to think of transparency as shedding light on mortgage bank processes. People should not feel they are at the mercy of a loan officer. By sharing information, we are no longer isolated and kept in the dark when it comes to what mortgage companies and banks are capable of offering.
What type of rates can I compare on SmartHippo?
At this beta stage you can use SmartHippo to compare rates on mortgages (including refinance, home equity line of credit, debt consolidation and new home purchases). Over time, based on feedback from members, we will be gradually adding other types of products to the site.
