Smartfi Choice
Reverse Mortgage
Our Choice product can
put more cash in your hands.
Get Your Guide to Reverse
A Versatile & Non-Recourse Home Equity Solution
A Choice reverse mortgage, is a non-recourse, non-FHA loan that can be a great alternative for homeowners who want more cash out than a HECM allows for, want no upfront mortgage insurance, or who would like to receive all their loan proceeds at close.
Choice Borrower Benefits
- No monthly mortgage payment required*
- Loan amounts up to $4,000,000
- All loan proceeds available at close
- Can use proceeds to qualify (pay off debt or as income)
- Borrower can qualify at age 55**
- Allows you to age in place
- Is a non-recourse loan
- No upfront mortgage insurance requirement
*Borrower must pay property taxes, insurance, any HOA fees and maintain the property.
**Age requirements differ by product and state.
What a Smartfi Reverse Mortgage Can Do For You
Increase Cash Flow
- Get rid of your required monthly mortgage payments*
- Supplement your income
*Borrower must pay property taxes, insurance, any HOA fees and maintain the property.
Provide Lump Sum Cash Upfront
- Home repairs and improvements
- Eliminate high-interest credit card debt
- Means for in-home care needs
Be Your Financial Safety Net
- Avoid taxable withdrawals from your 401(k) or other retirement accounts by using tax-free2 reverse mortgage proceeds
- Cover property taxes and insurance
2Consult a tax advisor and appropriate government agency for any affect on taxes or government benefits.
Recommended Reverse Mortgage Education
