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SmartAsset Raises $1.5M For Home Mortgage Calculators

October 30, 2012

 

 

NYC-based SmartAsset has raised $1.5M led by Javelin Venture Partners and North Bridge Venture Partners, with YCombinator, Peterson Ventures, Quotidian Ventures, and Identified CEO Brendan Wallace.

The Web site offers a series of calculators such as: how much house can I afford, is it better to buy or rent, how much can I borrow, etc. In the future, they want to be able to help you to find a new home and finance it.

The site might work well for simple calculations but we found that it was way off the mark in suggesting what we can finance. In places like San Francisco our conversations with banks is that they are taking in other data on top of credit score, savings, down payment and income. If you run your business through a bank for example, banks here are more likely to want to work with you on a home loan.

As a lead generation tool, mortgages are a great vehicle. SmartAsset might be able to buy traffic for less than what they paid. Moreover, Google had to take down their mortgage tools so that’s one less competitor.

<p><a href=”http://vimeo.com/47883217″>SmartAsset Introduction</a> from <a href=”http://vimeo.com/smartasset”>SmartAsset</a&gt; on <a href=”http://vimeo.com”>Vimeo</a&gt;.</p>

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