Borrower FAQ
Pre-Issuance
Smart Home Pay financing options allow you to conserve both your cash and your credit card spending limits, and typically offer a lower interest rate than credit cards. You can get the smart home security solution you need without having to pay upfront.
It depends on what loan plan you qualify for and which are available through your service provider. We offer access to both interest-free plans and reduced interest rate plants.
Smart Home Pay has no prepayment fees. So feel free to pay off your loan whenever you want! Smart Home Pay does have late fees and dishonored payment fees.
Smart Home Pay may include an origination fee. The origination fee would be the lesser of $29.99 or 5% of your loan. Smart Home Pay also has late fees and dishonored payment fees. You can learn more about these late fees in your borrower agreement.
The minimum loan amount is $100 and the maximum is the total cost of the installation of your smart home security system. Credit approval will determine the loan amount that you receive. You may also add a co-applicant when you apply for the loan, to maximize the loan amount that you could be approved for.
The loan will be originated based on the final ticket size of the installation hardware and labor that will be approved by you and your service provider. If you were approved for $5,000 and the job total was $2,000, your loan amount will be for $2,000.
Please visit www.smarthomepay.com/login and enter your credentials to gain access to your loan.
Your username is the email you used to create your account. If you have forgotten this, please call 866-788-7942 to update your email.
You can reset your password from www.smarthomepay.com/login by clicking Forgot Password. The reset link will go to the associated email.
If you still can’t log in please call 866-788-7942.
The first payment is due on or shortly after 30 days from when your loan is originated. You can see when your first payment is due by logging into the Smart Home Pay platform and going to the payments section. Additionally, details on your loan payment schedule will included with your loan agreement that you sign. The Smart Home Pay platform will also send you email reminders when your payments are due and received.
You can see when your payment schedule by logging into the Smart Home Pay platform and clicking on the Upcoming Payments section.
You can pay your bill from your bank account via ACH or debit card on the Smart Home Pay platform or by mailing a check. If you would like to mail us a check please call our support center to set up check payments and receive more details.
There is not a fee for paying off your balance early.
Post-Issuance
To make a single, one-time payment log in to the Smart Home Pay platform and go to the Loan Details page where you can click Make Payment.
If you log in to the Smart Home Pay platform and go to the Transactions page you can review your payment history.
The Smart Home Pay platform will reflect online payments against the balance almost immediately. As to when the funds will be debited from your bank, it depends on the payment method. Typically, for payments via ACH/bank draft, a debit for the payment amount will post within 24-48 business hours and same day for a payment made by debit card.
Yes, you can submit multiple payments in a day.
Yes, Smart Home Pay will send you an email confirmation when payment is processed.
The payment due date is on or shortly after 30 days from the signing and confirmation of the loan. You are not able to change the payment date.
When you make a payment via debit card or your bank account, it will post to your account nearly instantaneously. If you choose to submit a payment via check, please be prepared for at least ten business days before it posts.
If you made a payment over 24 hours ago, have a confirmation email, and it is not showing up on your Smart Home Pay account, you should first check and see if the payment is reflected on the transactions listed for your online bank account (if the payment is by ACH or debit). If you see the payment listed on your online bank account, you can call 866-788-7942 to see why it hasn’t posted to your Smart Home Pay Loan account. If it is not yet posted on your online bank account, please wait for at least 72 hours, check again, and then give us a call at the above phone number.
Yes, if you’d like to update your payment information, please call us at 866-788-7942 so we can help you.
It depends on the payment type used as well as what bank you are using. Most payments should post within 72 hours. If you are using a check, please give it at least 10 business days.
Yes, you can cancel an automatic payment. You will need to cancel three days before your payment is due to ensure your payment method is not debited. Please call our support center to disable autopay.
Please call us at 866-788-7942 and we can share relevant information.
There is not a fee for paying off your balance early.
Autopay will allow you to set up a payment method that will be used for monthly payments automatically for the duration of your loan without any action needed on your end.
You can (and we recommend it) enroll in autopay during the application and loan acceptance process. If you want to enroll at a later date, please call us at 866-788-7942.
Autopay will automatically be set to the amount due for the amount, including any applicable fees. Please note that autopay being enabled does not guarantee payment in full as insufficient funds in the associated account could result in missed payments and potentially incur fees.
Yes, we will send you email confirming your enrollment in autopay.
No, it will not. Autopay will end when the loan is paid in full.
We will not charge you for more than the remaining balance on your account via autopay If you send a check that is more than your remaining balance we will refund you whatever you pay over the remaining balance.
To ensure autopay works for your next payment, you need to enable it at least one day before your payment is due.
Canceling autopay will disable the feature within 24 hours.
Yes. You can make a one-time payment via Make Payment on the Loan Details page in the Smart Home Pay platform or a payment by check.
Email notifications will be sent for payment reminders, schedules, and confirmations.
Yes, you can call us at 866-788-7942 to change your email.
Transactional email notifications, including payment reminders, are non-configurable to ensure you know when payments are due and processed and that you receive other important account updates. You can opt out of marketing emails and other non-transactional emails using the unsubscribed link in those emails. We will also honor requests to cease collections communications.
Interest will accrue daily. Interest is calculated using the simple interest method, which equals the product of (i) your interest rate expressed as a daily rate, multiplied by (ii) the loan amount, multiple by (iii) the number of days between payments.
Fees are incurred from late payments and insufficient funds in your bank account or otherwise dishonored payments. You can avoid fees by ensuring you make payments on time, there are sufficient funds in your bank account, and that your payments are not otherwise dishonored.
Fees are only charged if a payment was not received by the due date, if there were insufficient funds in your bank account when a payment was processed, or the payment was otherwise dishonored. If all of this looks good on your online bank account and it appears there was a mistake, you can call our support center.
All historical information can be reviewed in your Smart Home Pay account.
Yes. You can change your password from your Smart Home Pay account via the Change Password button by clicking the profile in the upper right corner.
In order to change your username, you will need to update your email address on file in the borrower portal or by calling our support center.
Smart Home Pay uses advanced encryption techniques, including Secure Socket Layer (SSL) technology, to protect the information you provide us. You can verify that the session is secure when you see a locked padlock displayed at the top or bottom of most browser windows. In addition, before displaying any account information online, we verify your identity using your log in information.
Occasionally, the Smart Home Pay platform will have to do maintenance and the website will be inaccessible. If you experience this for an extended period of time, reach out to our support center.
If you believe there has been a mistake, don’t hesitate to reach out to our support center at 866-788-7942 or email disputes@smarthomepay.com.
Yes. You can find estimate a payoff by going to the Estimate Payoff page in the borrower portal.
We are happy to help with this. Please call us and submit a request that you canceled and returned your system. We will verify a few things and unwind your loan and you will not need to make any payments.
Reach out by Phone at (866) 788-7942 or (855) 204-3311
Email us anytime at applicants@smarthomepay.com or borrowers@smarthomepay.com
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