At a Glance

Smartfi offers tailored reverse mortgage solutions for senior homeowners aged 62 and older.¹ With a transparent, user-friendly application process and flexible disbursement options, Smartfi helps retirees convert home equity into accessible funds. Seniors can achieve financial stability while remaining in their homes, with no monthly payments required.²

¹Age varies by product and state.

²Borrowers must pay property taxes, insurance, any HOA fees and maintain the property.

Key Figures

• Loan types: Reverse mortgages
• Loan disbursements: Lump sum, line of credit, monthly disbursements, or combination of these options.¹
• Credit requirements: Can be based on financial assessment rather than a strict score
• Repayment terms: Loan due upon home sale or vacating the residence or failing to meet loan terms

¹Not all payment options are available on all products.

How it Works

Applying for a reverse mortgage with Smartfi is a simple and transparent process.

1. Initial Consultation: Prospective borrowers speak with a Smartfi specialist to determine eligibility and discuss loan options.
2. Complete Required Counseling: Complete 1–2-hour reverse mortgage counseling session with an independent HUD-approved counselor to ensure you have the tools to make an informed decision.
3. Submit Application: Submit your completed counseling certificate, along with the required documentation.
4. Appraisal and Underwriting: Your home will be appraised by an appraiser, as required by the loan. Once complete, the loans documents are reviewed and finalized for closing.
5. Final Agreement: After review and approval, borrowers sign the agreement with a notary.
6. Disbursement: Funds are disbursed as a lump sum, monthly payments, a line of credit or a combination of these options

Key Points: The process typically takes 30-45 days, depending on the completeness of the documentation and property appraisal. Not all payment options are available on all products.

Loan Payout Options

Smartfi exclusively offers reverse mortgages, a specialized loan product designed for senior homeowners age 62 and older.¹ These loans allow retirees to access a portion of their home equity without monthly repayments.²

1. Lump Sum: Borrowers receive the loan amount as a one-time payment.
2. Line of Credit: Funds are available as needed, offering greater flexibility.
3. Monthly Payments to You: A structured option for receiving consistent funds.
4. Combination: Combine any of the above options for a customized disbursement.

Each loan type is tailored to suit different financial needs, providing seniors with options to enhance their retirement lifestyle. Of course, not all payment options are available on all products.

¹Age varies depending on product and state.

²Borrowers must pay property taxes, insurance, any HOA fees and maintain the property.

Loan Features

• No Monthly Payments: Borrowers defer repayment until the home is sold or vacated, as long as loan terms are met. Borrowers must pay property taxes, insurance, any HOA fees and maintain the property.
• Flexible Disbursement Options: Choose between lump sum, monthly installments line of credit, or combination of these options. Not all payment options are available on all products.
• Age-Specific Design: Loans are exclusively available to senior homeowners aged 62+. Age varies by product and state.
• Property Retention: Borrowers maintain ownership of their homes, as long as all loan terms are met.

Rates and Terms

Smartfi offers competitive rates. Repayment terms are flexible, with the loan becoming due when the homeowner sells the property or no longer resides there or loan terms are no longer met. Interest accrues over time but does not require monthly payments¹, offering peace of mind for borrowers.

¹Borrowers must pay property taxes, insurance, any HOA fees and maintain the property.

Summary

Smartfi provides a reliable and straightforward way for senior homeowners to access their home equity through reverse mortgages. With no monthly payments¹, flexible disbursement options, and a focus on customer satisfaction, Smartfi makes it easier for retirees to achieve financial freedom and enjoy their retirement.

¹Borrowers must pay property taxes, insurance, any HOA fees and maintain the property.

Contact Smartfi

Smartfi has received positive customer feedback on its user-friendly service and responsive support. While specific ratings on platforms like Better Business Bureau and Trustpilot vary, the company’s commitment to transparency is a common highlight.

• Contact Email: connect@smartfihomeloans.com
• Phone: 866-777-8134
• Physical Address:

• 3636 Nobel Dr.
• Suite 210
• San Diego, CA 92122

For additional assistance, Smartfi’s customer service team is available to answer questions and provide personalized guidance throughout the application process.

Disclaimer

AI was used in the generation of this content, along with human verification.

¹Borrowers must pay property taxes, insurance, any HOA fees and maintain the property