SmartFi Home Loans at a glance, 2025
Every figure is from the lender's own HMDA filing. "vs national" compares with all lenders combined.
How the D grade breaks down
Each component is a percentile rank among 8 reverse-mortgage lenders. Higher is better. Components the lender does not report are left out and the weights redistributed.
Approval oddsdecision denial rate, weight 45%
0th24.1% deniedProcesswithdrawn + incomplete share, weight 15%
86th9.8%Trend, 2023–2025
| Year | Applications | Originated | Denial rate | Decision denial | Median rate | Volume |
|---|---|---|---|---|---|---|
| 2023 | 169 | 134 | 11.8% | 12.8% | 9.69% | $51M |
| 2024 | 429 | 298 | 20.5% | 22.5% | 9.69% | $120M |
| 2025 | 1,644 | 1,116 | 21.7% | 24.1% | 8.98% | $360M |
What SmartFi Home Loans lends
Applications by purpose and loan type in 2025, with the denial rate for each. A lender's mix explains a lot of its headline rate: HELOCs and FHA loans are denied far more often than conventional purchase loans.
By loan purpose
By loan type
Also: 627 home-equity lines, 1,644 reverse mortgages, 42 manufactured homes, 0 investment properties.
Why SmartFi Home Loans denies applications
Primary reason reported for each of the 357 denials in 2025. Lenders can cite up to four reasons; this is the first one listed.
Who gets approved at SmartFi Home Loans
Decision denial rate by applicant profile. Groups with fewer than 20 applications are omitted.
| Applicant income | Applications | Originated | Decision denial rate |
|---|---|---|---|
| Under $50k | 1,169 | 774 | 25.4% |
| $50k – $100k | 296 | 210 | 22.1% |
| $100k – $150k | 30 | 13 | 51.9% |
| Applicant age | Applications | Originated | Decision denial rate |
|---|---|---|---|
| 55–64 | 184 | 103 | 38.0% |
| 65–74 | 645 | 431 | 25.7% |
| Over 74 | 815 | 582 | 19.6% |
Where SmartFi Home Loans lends
35 states and 377 counties in 2025. Click a state for the lender's full record there.
| State | Applications | Originated | Denial rate | Median rate | Rank in state |
|---|---|---|---|---|---|
| California | 508 | 361 | 19.3% | 8.98% | #259 |
| Florida | 435 | 302 | 20.0% | 8.99% | #258 |
| Texas | 135 | 72 | 31.9% | 8.98% | #497 |
| Washington | 91 | 62 | 17.6% | 7.87% | #246 |
| Arizona | 72 | 48 | 31.9% | 8.98% | #271 |
| Colorado | 58 | 39 | 20.7% | 8.98% | #283 |
| Michigan | 35 | 27 | 17.1% | 8.99% | #371 |
| Oregon | 35 | 22 | 31.4% | 7.76% | #258 |
| Georgia | 33 | 12 | 39.4% | 8.98% | #512 |
| Pennsylvania | 33 | 25 | 9.1% | 8.98% | #540 |
| Utah | 27 | 21 | 14.8% | 8.99% | #220 |
| Illinois | 19 | 15 | 10.5% | 8.98% | #598 |
| New Jersey | 17 | 12 | 29.4% | 8.99% | #470 |
| Ohio | 17 | 9 | 41.2% | 8.99% | #553 |
| Idaho | 16 | 14 | 6.3% | 8.99% | #240 |
| New Mexico | 16 | 11 | 25.0% | 6.25% | #219 |
| Oklahoma | 14 | 8 | 14.3% | 6.38% | #370 |
| Montana | 11 | 7 | 36.4% | 6.38% | #175 |
| Tennessee | 11 | 6 | 36.4% | 6.13% | #621 |
| Indiana | 10 | 9 | 0.0% | 8.99% | #539 |
| Maryland | 9 | 5 | 22.2% | 6.50% | #489 |
| Alabama | 8 | 4 | 50.0% | 6.31% | #499 |
| South Carolina | 8 | 6 | 25.0% | 8.98% | #572 |
| North Carolina | 5 | 4 | 20.0% | 6.75% | #745 |
Frequently asked questions
SmartFi Home Loans denied 24.1% of the applications it decided on in 2025. The national figure across all lenders was 22.6%. On approval odds it ranks in the 0th percentile of reverse-mortgage lenders.
The most common reason SmartFi Home Loans gave in 2025 was "insufficient cash", cited on 29.4% of its denials. Lenders report up to four reasons per denial to the CFPB; the full breakdown is on this page.
The median interest rate on loans SmartFi Home Loans originated in 2025 was 8.98%, and its median rate spread over the average prime offer rate was 0.00 points. Rates on this page are what borrowers actually got, not advertised rates.
In 2025, 5% of its applications were for home purchases, 73% for refinancing (including cash-out), and 22% for home improvement or other purposes. By loan type: 62% conventional, 38% FHA, 0% VA.
Every figure on this page comes from the Home Mortgage Disclosure Act (HMDA) Loan/Application Register published by the CFPB, which lenders are required by federal law to file. We add the grade and the comparisons; we do not add facts.