Frequently asked questionsEverything you need to know about the platform.

SnapRent is a financial solution designed to help renters dramatically reduce upfront move-in costs. We cover your security deposit, you just move in.

Our unique loan structure has the most affordable monthly minimum payments on the market, giving you the flexibility to pay in the way that works best for you.

Make a payment towards your principal at any time, or use one of our preset payment plans. No hidden fees, ever.

SnapRent always gives you the chance to recoup your security deposit before our payment plans end. This allows our users to use this money towards repayment of their broker fee.

Our payment plans start at 13 months to account for a standard 12-month lease, plus one month to receive your refunded deposit.

If you decide to stay in your apartment, you can always extend your loan without fees.

SnapRent was designed for security deposits and broker fees, but you can use the funds for any part of your move. Our maximum loan value is the value of your broker fee, or your security deposit if you don’t pay a broker fee.

SnapRent always gives you your requested funds directly. Most banks accept our transfers within minutes – even on weekends – but it can take up to one business day to receive your funds..

You can apply up to one month before or two months after moving into a new rental unit. If you apply before moving and are accepted, you’ll be pre-approved, but we’ll still need a copy of your lease before finishing the sign-up process.

1. Apply on our website in just minutes

2. SnapRent sends you the full amount of your security deposit or broker fee.

3. Set up automatic payments or pay manually each month. Our unique payment structure allows our minimum payments to easily fit into your budget.

4. Wait until your deposit is refunded to pay us back, or pay us on your own schedule. No hidden fees, ever.

5. Extend your loan for free if you stay in your lease for over a year.

This feature is in the works! Meanwhile, just email us if you’d like to do this, and we'll make it happen for you.

Applying won’t affect your credit score. Accepting a SnapRent loan may cause a temporary dip in your score, but it’s just temporary. On-time payments can also improve your credit score!

We cover your security deposit, but not your damages. You’ll need to pay for damages out-of-pocket, but we can always refinance if you’re not ready to pay yet.

We also provide guides for moving in, moving out, and getting as much of your security deposit back as possible. If you need additional support, just let us know.

Currently, SnapRent is only available in New York. Let us know if you'd like to see us in your area!

You can always pay off any portion of your SnapRent loan early. No extra fees.