Smart Home Equity Loans
 


Preferred Loan Type

Property Type

Property Value

Credit Rating

Home Equity Wholesale
Prime Wholesale- Home Equity- Fixed Rate- 100%

Smart Home Equity connects lenders, brokers and consumers with a stellar wholesale home equity product line. We provide loan programs that feature both home equity loans and credit lines. Find out more about our high loan-to-value home equity loans and stated income home equity products that many home equity lenders and brokers are representing.

Our long-term relationships with home equity banks across the country translate to better pricing for home equity loans and credit lines. Let Smart Home Equity help you connect the best lender or broker for your situation.

  • High LTV Wholesale Rates for Home Equity Loans: offering fixed loans to 125%
  • Prime Wholesale for Home Equity Lines: Variable interest rate credit lines to 100%
  • Sub-Prime Wholesale Rates for Home Refinance: fixed rate loans to 95%
  • Non-Prime Wholesale Rates: Credit lines with interest only payments to 90%
  • 70 Percent Hard Money Equity Lending
  • No Income Verified Home Loans

How is becoming a Smart Home Equity broker or correspondent lender going to help me?
Smart Home Equity offers a full range of second mortgage products up to 125% LTV, and offer first mortgages too. We offer predictable service with good turn-times.

  • Piggyback- Combo Loans to 125% behind first Liens.
  • Stated income home equity programs up to 100%.
  • Second mortgages up to 125%.

Who is a Prime Smart Home Equity high LTV Customer?
We offer prime home equity programs with most of our borrowers' fico scores of 660 or better.

Who is a Sub-Prime Smart Home Equity high LTV Customer?
Although we offer A-paper home equity programs at higher fico score ranges, most of our borrowers in the sub-prime programs have poor to fair credit with fico scores starting at 570 and better.

Why are high loan-to-value home equity loans underwritten differently?
Since equity position is less in a high-to-value loan, a higher proportion of the credit decision is based on the borrower's credit characteristics.

It is a different lending model that is better in the hands of lenders who are in the mortgage business for the long run.

  • No Income Verified Home Equity Programs
  • 50- 55% Debt to Income Ratios
  • Fixed Rate- Interest Only
  • Competitive Home Equity Rates

We have 2 programs that can help any issues you are having with DTI:

* Credit Score Select– primary borrower is the borrower with the Highest Mid-Score! No Primary Wage-Earner required!

* Mixed Doc Option - Add a stated co-borrower to a full doc primary and the loan is underwritten as a full-doc home equity loan.

Interest Rate Reduction for all Fixed Rate Home Equity Loans
Overtime & part time income allowed with 1 year history
6 months seasoning to use appraised value
NOO mortgage history ignored when lending on OO property
Escrows optional and free; no PMI on any loan program
Rental income allowed without landlord experience

Stated Loans
Only 500 FICO required – Self-Employed and Wage Earner
Only LTV’s 95% and above require 2 months PITI sources
CPA letters allowed, 3 reference letters or other options allowed for proof