Smart Lending 
If you need a lot of cash for a large expense and own your home, you may consider borrowing some of your equity. One option is to get a home equity loan, which is a second mortgage that may allow you to borrow a portion of your equity at a fixed rate. Home equity loan … Read more
Home equity is the difference between your property’s market value and any outstanding mortgage is a valuable financial tool for homeowners. It can provide a safety net for unexpected expenses, fund significant investments, or consolidate debt. Smart Lending’s team help you leverage your home equity with financing opportunities that improve your financial condition. 5 Ways … Read more
Rent-to-own agreements offer an alternative path to homeownership for individuals who may not yet qualify for a traditional mortgage. This option allows potential buyers to rent a property with the intent to purchase it at a future date. But how exactly do rent-to-own homes work, and is this the right approach for you? Let’s explore … Read more
Yes, you can secure a mortgage for land, but the process and terms differ from those for traditional home loans. Land mortgages are used for purchasing raw land, lots for building, or undeveloped property. They come with more stringent conditions because lenders consider land purchases riskier than mortgages for homes, primarily because land doesn’t generate … Read more
Deciding whether to pay extra on your mortgage or student loans can feel like navigating uncharted waters. Both types of debt carry financial weight, and choosing which one to prioritize depends on various factors, including interest rates, loan terms, and long-term goals. But how do you determine which debt deserves your attention first? In this … Read more
The HELOC is a popular second mortgage loan and the interest is calculated a unique way. As you may already know, the HELOC or home equity line of credit operates similarly to a credit card, offering a revolving line of credit that you can draw from, repay, and draw from again. One of the critical … Read more
Home improvements can enhance the value and comfort of your property, but what if you have little or no equity in your home? Can you still secure a loan to finance your renovation dreams? Fortunately, several financial options are available that don’t rely on the equity in your home. This Smart Lending guide explores the … Read more
Many borrowers are not sure how underwriters consider student loans and debt when they apply for a HELOC line of credit as a homeowner. Student loans differ slightly from other types of debt and generally have less impact than credit card debt, for example. In fact, student loans don’t always appear on your credit report, … Read more
Smart Lending can help you in your quest to connect with best private money mortgage lenders that offer you unique opportunities that the conventional banks do not offer. Whether you’re seeking capital to fund a real estate project, buy a business, or pay for a large personal expense, finding the right private money lender can … Read more
Buying a second home is a dream for many homeowners, offering the opportunity for a vacation getaway, investment property, or a place to retire. However, purchasing a second home without selling your first can be a complex financial decision that requires careful planning and strategy. Whether you’re looking to generate rental income, build equity in … Read more
More and more borrowers have been asking about closed-end second mortgages as interest rates are more favorable to taking out home equity loans compare to a cash out refinance. Many people do not actually know what a closed end second mortgage is, so we though we would publish this article and explain it. A closed-end … Read more
While you will pay interest similar to a traditional loan, the interest payments go back into your own account, effectively paying interest to yourself. You can borrow against your 401(k) for various purposes, such as debt consolidation, purchasing a home or paying for a family members college tuition. If you need money, borrowing from your … Read more