Life is full of big purchases, and California-based start-up SmartAsset wants to be there to help. Officially launching to the public today, SmartAsset.com makes personalized buying recommendations based on each user’s specific requirements.
At launch, SmartAsset is helping people make an informed decision regarding home purchases, but other large purchases are in the works, including buying or leasing a car, refinancing, paying for education and saving for retirement.
Users enter personal information, such as income, savings, expenses and debt as well as location and credit score, and SmartAsset returned valuable information including suggested home value, down payment and mortgage value. There are also calculations comparing renting versus buying, impact on annual taxes and mortgage comparisons.
By using a model that includes fields such as debt, living expenses and tax amounts by zip code, SmartAsset is smarter than most other mortgage calculators, empowering users to make informed, confident financial decisions.
Prior to co-founding SmartAsset, Michael Carvin worked in private equity, building financial models to help businesses make better decisions. SmartAsset is a way to allow individuals make big decisions based on similar financial models. “When making big purchases, people always ask the same questions,” said Carvin. “Unfortunately, the answers to these questions are always different, since everyone’s financial situation is unique.”