The Smartfi Difference
We are dedicated to always putting the other person first, whether that be our client, our coworker, or you – our partner. We focus on cultivating our relationship with you to ensure that you have everything you need to succeed. 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, LLC, we take the thoughtful approach to lending.
The Smartfi Experience
Establishing our roots in 1911, Smartfi Home Loans, LLC began as Bankers Guarantee in Ohio, with a mission to serve locals from the beginning of their mortgage loan, to the very end. After decades of experience and developing our expertise, we set our sights on meeting the needs of our partners and clients as Smartfi Home Loans, LLC.
Part of The Smartfi Difference is our attitude and culture. 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.
Frequently Asked Questions
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.
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.
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.
Loan proceeds are determined by the youngest borrower’s age, the product type and the corresponding interest rate.
Basic requirements for reverse mortgage eligibility include the following:
- All borrowers are at least age 60**
- 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
Yes. With a reverse mortgage, the title to the home remains with the borrower.
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.
A partnership with Smartfi Home Loans, LLC 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.
Yes, we have an experienced team of experts to provide you with all the training and education you need to start offering reverse mortgages.
Click here to submit your partner application.