We are a reverse mortgage wholesale lender with over 110 years of collective reverse mortgage experience. We are dedicated to always putting our partners, and their clients, first. From our comprehensive and easy onboarding process – to our innovative products, pricing and training – to our competitive broker compensation, we are committed to your success and your borrowers’ dreams. At Smartfi Home Loans, we take the thoughtful approach to lending.
The Smartfi Experience is having 110+ years of reverse mortgage expertise at your fingertips. It’s leaning on the knowledge of our passionate Account Executives when you need to. It’s knowing we have an open door and a commitment to your success – inviting you to ask for support where you need it, and us rising to the occasion to meet your needs.
At Smartfi, we value progress, innovation, transparency, integrity, and positivity. Every Smartfi specialist you work with exhibits these characteristics and is committed to our mission – to put every America senior in a position to succeed and make informed decisions about their retirement.
Why Be a Partner?
If you're looking for a lender who you can have confidence in, then a partnership with Smartfi Home Loans is for you. Our stability, experience and expertise have seen us through decades, helping our team succeed year after year. A partnership with us grants you access to our senior-focused lending solutions, a streamlined loan origination system, and the support of our knowledgeable and friendly experts.
A reverse mortgage loan allows homeowners to borrow money using their home as security for the loan. When you take out a reverse mortgage loan, the title to your home remains in your name. However, unlike a traditional mortgage, with a reverse mortgage loan, borrowers don’t make monthly mortgage payments. The loan is repaid when the borrower no longer lives in the home. Interest and fees are added to the loan balance each month and the balance grows. With a reverse mortgage loan, homeowners are required to pay property taxes and homeowners insurance, use the property as their principal residence, and keep their house in good condition.
How does a reverse mortgage work?
With a reverse mortgage, a borrower receives loan proceeds in the form of a lump sum, monthly payments, a line of credit, or a combination of any of these. As with any other loan, terms and payouts are determined by the product, fees and interest rate.
When and how is the loan repaid?
Reverse mortgage loans typically must be repaid either when a borrower moves out of the home or when they pass away. However, the loan may need to be paid back sooner if the home is no longer a borrower’s principal residence, they fail to pay their property taxes or homeowners insurance, or do not keep the home in good repair.
How much is a borrower eligible for?
Loan proceeds are determined by the youngest borrower’s age, the product type and the corresponding interest rate.
How does a borrower qualify/who can get a reverse mortgage?
Basic requirements for reverse mortgage eligibility include the following:
All borrowers are at least age 55**
The subject property is a borrower's primary residence and has an acceptable appraisal
There is sufficient equity in the home
Borrower passes product specific residual income and credit requirements
Borrower completes reverse mortgage counseling
**Age requirements differ by product and state.
Does the borrower own their home when they have a reverse mortgage?
Yes. With a reverse mortgage, the title to the home remains with the borrower.
What are the benefits of offering a reverse mortgage?
Offering a reverse mortgage allows you to broaden your potential client base and referral providers, diversify your portfolio and help seniors meet their retirement goals.
Why should I partner with Smartfi Home Loans?
A partnership with Smartfi® grants you access to our innovative products, experience and expertise. Our industry leading turn times and pricing will help ensure you grow your borrower opportunities.
Will Smartfi help me get set up to offer reverse mortgages?
Yes, we have an experienced team of experts to provide you with all the training and education you need to start offering reverse mortgages.