SMI Lending Services

Services

SMI Lending, Inc. (NMLS #224642) is a Dallas-based mortgage banker that specializes in residential home loan purchases and refinances, including conventional conforming, jumbo, FHA, VA, and USDA. SMI tailors its loans to an individual’s specifications, customizing the terms to meet the needs of the client. SMI takes pride in its honest and straightforward approach, disclosing all loan terms up front and ensuring that those terms stay the same from origination to closing.

Home Purchase Loans

Preapproval Process

As a new home buyer, you will want to be preapproved before you begin searching for properties. A preapproval is critical in determining how much house you can purchase. The process is simple: together, we will complete a mortgage loan application and review your credit history. Your employment status (whether W-2 employee or self-employed) will determine the income documentation required to complete the process. Typically, paystubs, W-2 forms, and a current bank statement are necessary for a preapproval, meaning I have personally reviewed your financial documentation and assessed your credit worthiness. We will then review your mortgage options, and I will write you a preapproval letter indicating the maximum amount you are able to borrow. You are then free to make an offer on a property.

Please note that a preapproval letter is not binding. For instance, if your financial situation changes, a credit report expires, or interest rates rise above a certain threshold, we will need to re-review your situation accordingly.

Home Refinance Loans

As an existing home owner, there are many benefits to refinancing, whether it’s lowering your monthly payment, moving from an adjustable-rate to a fixed-rate, shortening or lengthening your loan term, taking cash out for renovations, or consolidating debt. The key decision to refinancing is weighing the benefits and deciding whether it makes financial sense. After discussing your current financial situation, I will be able to tailor the best loan options that meet your respective goals. I will also provide you with break-even points, so you know exactly when you will recoup any costs associated with refinancing.