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Review Counsel is affiliated with Mutual of Omaha Mortgage and Retirement Funding Solutions, and recommends them for their deep experience, customer service, and borrower reviews.

Smartfi Home Loans

Review Counsel Rating

3.1 | ★ ★ ★

About Smartfi Home Loans

Brief Summary of Services: 

  • Reverse Mortgage 
  • Home Purchase 
  • Mortgage Refinance 
  • FHA Loans 

Smartfi Home Loans Synopsis 

Review Summary: Smartfi Home Loans stands out as offering a broad range of mortgage products from reverse mortgages to loans for first time home buyers. The main downside to Smartfi is that it is only available in 40 states. (See the full list below.) 

Recommended for: Smartfi Home Loans is a great option for those that are looking for other alternatives to a Reverse Mortgage. 

What is a Reverse Mortgage? 
A Reverse Mortgage is also known as a Home Equity Conversion Mortgage (HECM). It is a financial tool available to seniors who are at least 62 years of age. It allows them to cash-in on the equity in their homes without having to sell their home. The money can be received as monthly installments, a lump sum, a line of credit or a combination of the three. A Reverse Mortgage can also be used to purchase a new home. This is known as a HECM for Purchase. Those who obtain a reverse mortgage are still required to stay current on property taxes, homeowner’s insurance, and any necessary maintenance costs. Read more about Reverse Mortgages here

Pros and Cons of Smartfi Home Loans 


  • Home purchase mortgage calculator

  • Online application available

  • Variety of loan options


  • No reverse mortgage calculator

  • Not available in all 50 states

Smartfi Home Loan Customer Reviews

Consumer Review PlatformRating
Better Business Bureau A+ Rating; No Reviews
ConsumerAffairs4.4/5 Stars with 13 Reviews
Trustpilot 4.0/5 Stars with 4 Reviews 

Smartfi Home Loans Full Review 


Smartfi Home Loans offers mortgages for new purchases, mortgage refinance, and reverse mortgages, as well as others.  

In addition to traditional reverse mortgages that are backed by the Federal Housing Administration (FHA), it also offers Smartfi Choice which is its proprietary product that allows homeowners to take out a larger loan at a younger age.  

This might be necessary if the home equity is greater than the current FHA-backed limit, which is $1,089,300. 

In Ohio, Smartfi goes by its original name Bankers Guarantee Mortgage Company, where it has been in business since 1911.  

Its website offers a mortgage calculator for new home purchases.  

Smartfi offers an informative blog that is primarily focused on its reverse mortgage products.  

Smartfi Home Loans Loan Options 

Smartfi Home Loans offers the following products and tools on their website: 

  • FHA Reverse Mortgage 
  • Smartfi Choice Reverse Mortgage 
  • Fixed Rate Mortgage 
  • FHA Home Loan 
  • VA Home Loan 
  • Mortgage refinance 

Smartfi Home Loans Reverse Mortgage Loan Application Process 

Smartfi lays out a four-step process borrowers can expect to go through when taking out a Home Equity Conversion Mortgage (HECM), which is also known as a reverse mortgage: 

  • Step 1: Research. Smartfi encourages borrowers to use this step to educate themselves about what reverse mortgages are and if it is a good option for them. Smartfi says the best way to do this is to talk to a reverse mortgage specialist who will be able to give homeowners specifics about how much equity they may be able to access and understand the next steps.  
  • Step 2: Counseling and Application. In order to complete the application, borrowers will need to complete a counseling session with a HUD-approved counselor. This is a required part of the process no matter what lender you work with.  
  • Step 3: Processing and Approval. Once the counseling and application are completed, the next step will be to schedule an appraisal. The application will then be submitted to underwriting for review.  
  • Step 4: Closing. At closing, the borrower will sign the closing documents and decide how to receive his or her funds.  

Smartfi Home Loans Company Information 

Smartfi Home Loans is based out of Medina, Ohio and has been in business for more than 100 years. It offers a variety of loan options and competitive rates within the mortgage industry. 

In the state of Ohio, it is known as Bankers Guarantee Mortgage Company.  

Smartfi says that it is committed to helping to meet the needs of America’s seniors in their retirement. And it intends to do this by being transparent with seniors about the mortgage industry and the options available to them.  

States Serviced by Smartfi Home Loans  

Smartfi is licensed to originate loans in 35 states. In Ohio, Smartfi does business as Bankers Guarantee Mortgage: 

  • Alabama 
  • Arizona 
  • Arkansas 
  • California 
  • Colorado 
  • Delaware
  • Florida 
  • Georgia 
  • Idaho 
  • Illinois 
  • Indiana
  • Iowa 
  • Kansas
  • Kentucky
  • Louisiana 
  • Maryland
  • Michigan 
  • Minnesota 
  • Mississippi 
  • Montana 
  • Nebraska 
  • New Hampshire 
  • New Jersey 
  • New Mexico
  • North Carolina 
  • North Dakota 
  • Ohio (does business as Bankers Guarantee Mortgage) 
  • Oklahoma 
  • Oregon 
  • Pennsylvania 
  • Rhode Island
  • South Carolina
  • South Dakota 
  • Tennessee 
  • Texas 
  • Utah
  • Washington 
  • Wisconsin 
  • Wyoming 

Office Locations 

  • Medina, Ohio 
  • San Diego, California 

Last updated: 9/1/23

Read More About This Topic:  

Our Methodology

Reverse Mortgage companies are evaluated based on six factors that we believe are important for consumers: years in business, number of products offered, customer service availability, state licensing footprint, Better Business Bureau (BBB) Ratings, and the inclusion and functionality of a mobile application. Please find a full description of our ratings system here

This information is intended to be general and educational in nature and should not be construed as financial advice. Consult your financial advisor before implementing financial strategies for your retirement. 

Address: 1113 Medina Road Suite 400 Medina, OH, 44256

NMLS# 1862952

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