Loan Officer | NMLS # 1692522

Hi my name is Erica Smith. I am a small town country girl raised in the great state of Idaho. I currently live in Salem with my four incredible kids! We love the outdoors, the sun is our best friend. The majority of my kids’ lives were spent on the Island of Oahu, we moved here in 2017.
I pride myself in problem solving and clear communication. There is no greater purchase than your home! I look forward to working with you and making your home buying process as smooth and enjoyable as possible!

Office: (435) 201-6150

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I will work with you in the beginning stages of your home loans to help you see what your mortgage payment could be based on your current income, assets and debts. 


 We will go over a simple loan application and collect any documentation you need to ensure I give you an accurate pre-approval letter. 


Can you imagine the day where you can relax and begin to see all the possibilities of home owning or a refinance? I sure can! I’m excited to help you and answer any questions!

Sun American Mortgage has a program for you!

Choose a program to learn more about.

Conventional mortgages can have a fixed interest rate or an adjustable interest rate. Typical fixed-rate loans have a term of 30 or 15 years. However, Sun American Mortgage also offers 25-year, 20-year, and 10-year fixed-rate options. 

Conventional mortgages typically require a higher down payment, usually 5%–20%. However, first-time homebuyers can now purchase a home with as little as 3% down!

An FHA loan is a home loan that is insured by the FHA. In other words, there’s a guarantee that if you fail to repay the mortgage, FHA insures the lender that a portion of that debt will be paid. This is the reason you are required to pay a Mortgage Insurance Premium (MIP) in your loan. 

Disclosure: This material is not provided by, nor was it approved by the Department of Housing & Urban Development (HUD) or by the Federal Housing Administration (FHA).

A Jumbo mortgage is a home loan with an amount that exceeds conforming loan limits imposed by Fannie Mae and Freddie Mac, the two government-sponsored enterprises that buy mortgages from lenders. The limit is $417,000 in most parts of the United States, but is $625,500 in the highest-cost areas and in-between in others.

Generally the qualifying factors are the same as a conventional loan. However, the down payment and credit worthiness requirements are less flexible, as the risk is greater with larger loan amounts. 

If you’ve never heard of the USDA loan program, you’re not alone. It’s a niche product serving a fraction of the U.S. housing market, and most banks don’t offer them. However, eligible suburban and rural home buyers can use it for 100%, no-money down mortgage financing, and it’s a program that we offer our clients here at Sun American Mortgage. 

USDA loans are intended for moderate-income families, those having annual household income at or below 115% of the median income for the area. USDA loans are insured by the U.S. Department of Agriculture and the program’s biggest feature is its option for “no money down” financing. Via the USDA you can finance 100% of a home’s purchase price, while having access to better-than-average mortgage rates. Click Here to check your income eligibility.

The VA home loan program is specifically for veterans, active military and surviving military spouses, although there are a few basic service requirements each must initially meet. Those interested likely meet the service requirements if the potential homebuyer served 181 days on active duty during peacetime; 90 days on active duty during wartime; or served six years in the Reserves or National Guard – unless otherwise eligible.

The Department of Veterans Affairs does not issue VA home loans, but guarantees a portion of each mortgage to be paid in the event that the purchaser is unable to fulfill the loan.

Disclosure: This material is not provided by, nor was it approved by the Department of Housing & Urban Development (HUD) or by the Federal Housing Administration (FHA).

These unique renovator products really change the game for some. There is a misconception that these loans are only for beat-up old shacks…not so! You can purchase a home that may need a new kitchen, carpet or an extra bedroom, and have the money to accomplish this through one loan. Borrowers can choose between an FHA or conventional loan financing. 

One of the best features of these loans is that the final value of the home is based on all the improvements and renovations completed. 

Loan Process is so Easy at Sun American Mortgage When Buying a Home


Most frequently asked questions

We know you have many choices when it comes to choosing a company to help you with your mortgage. However, we feel that no other company will work harder, care more, or better ensure that your loan process is extremely successful! We’ve been doing this for over 30 YEARS, and most of our staff has been with us for 15 years or longer! We are the foundation you want to trust your mortgage with!

In our day and age, the vast majority of all loans are regulated by the federal government. As such, today’s borrowers are required to supply detailed information on credit, income, assets and liabilities. Oftentimes, certain scenarios require more information than others. However, we are here to walk you through this process every step of the way so you understand what is needed.

Your debt-to-income ratio is one way lenders measure your ability to manage the payments you make every month to repay the money you have borrowed. 

To calculate your debt-to-income ratio, you add up all your monthly debt payments and divide them by your gross monthly income. Your gross monthly income is generally the amount of money you have earned before your taxes and other deductions are taken out.  For example, if you pay $1500 a month for your mortgage and another $100 a month for an auto loan and $400 a month for the rest of your debts, your monthly debt payments are $2000. ($1500 + $100 + $400 = $2,000.) If your gross monthly income is $6000, then your debt-to-income ratio is 33 percent. ($2000 is 33% of $6000.)

Conventional Loans –
When you apply for a home loan, you can apply for a government-backed loan (such as an FHA or VA loan) or a conventional loan, which is not insured or guaranteed by the federal government. This means that, unlike federally insured loans, conventional loans carry no guarantees for the lender if you fail to repay the loan. For this reason, if you make less than a 20% down payment on the property, you’ll have to pay for private mortgage insurance (PMI) when you get a conventional loan. (If you default on the loan, the mortgage insurance company reimburses the lender for a portion of the loss.) Conventional mortgage loans must adhere to guidelines set by the Federal National Mortgage Association (Fannie Mae) and the Federal Home Loan Mortgage Corporation (Freddie Mac) and are available to everyone, but qualification is a little more difficult than VA and FHA loans. (Since there is no government insurance, conventional loans pose a higher risk for lenders, so credit and income requirements are stricter than for FHA and VA mortgages).

FHA Loans –
An FHA loan is a loan insured by the Federal Housing Administration (FHA). If you default on the loan, a portion of that debt is covered by the FHA. Since the loan is insured, the lender can offer you good terms which include: a low down payment (as low as 3.5% of the purchase price), the financing of some closing costs (which means they are included in the loan amount), and low closing costs.
Qualification for this type of loan is often easier than a conventional mortgage and anyone can apply. However, FHA loans have a maximum loan limit that varies depending on the average cost of housing in a given region.
Also, you’ll have to pay MIP (Mortgage Insurance Premium) as part of an FHA loan. (Conventional mortgages have PMI and FHA loans have MIP.) The premiums that borrowers pay contribute to the Mutual Mortgage Insurance Fund. FHA draws from this fund to pay lenders’ claims when borrowers default.

The answer is…it depends! Yes or not yet, are your real options. Do you know how “bad” the bad credit is? More importantly do you know why it is bad and how to fix it over the next 3-36 months? As qualified loan officers, we can help you answer these questions. We can also tell you what a lender really cares about and what’s blocking you from your home ownership or refinance goals. The best step for concrete answers is to fill out an online application or speak to one of our experienced loan officers.

It would depend on what type of loan you have, how long you have owned your home, and what your refinance goals are. We can look at your situation and help you accomplish your goals. Really the best answers to your questions are found by calling us (we don’t bite). All of our loan officers are competent, friendly, and highly qualified. 

A Reverse Mortgage is a loan program that allows you to convert some of the equity in your home into cash while you retain home ownership. A Reverse Mortgage works much like traditional mortgages, only in reverse. Rather than making a payment to your lender each month, the lender pays you. Unlike conventional home equity loans, Reverse Mortgages do not require any repayment for as long as you live in your home. Funds obtained from an Reverse Mortgage may be used for any purpose, including rising health care costs, supplement retirement, home improvements and/or travel.

To qualify for a Reverse Mortgage, you must own and occupy your home as your permanent residence. The Reverse Mortgage funds may be paid to you in a lump sum, in monthly advances, through a line-of-credit, or in a combination of the three. The amount you are eligible to borrow is based on your age, the value of your home, and your equity after any liens are paid off.

The answer is…it depends. Surprise! Give us a call today so we can determine your qualification. We have programs that allow for no money down, as well as, 0.5% down and up to 5% down for starters.

Really, your down payment is just one factor in obtaining a loan. Other factors depend on your income, credit, the type and the size of home you desire. So let’s see what the best option is for you. Give us a call today!

The short answer is Yes! Home refinances come in two types. One is called a rate-and-term refinance, which replaces your current mortgage balance with a new mortgage of the same amount. The other is called a cash-out refinance, which means you are increasing your mortgage balance, resulting in the lender giving you cash. Even though you are paying off consumer debt, the lender is giving you cash, which is used to pay off some or all of your consumer loans. Keep in mind that your home must have sufficient equity in order to use the cash to pay off other consumer debts.

Generating sufficient cash to pay off most or all of your consumer debt will improve your monthly cash flow. A single monthly payment for debt, which is spread out over 15 to 30 years at low interest rates, should be budget-friendly. Instead of credit card debt, with interest rates from 10 to 25 percent, you may pay this debt at 4 to 6 percent with a home refinance.

MORTGAGE BANKER (Sun American Mortgage Company) –

Mortgage bankers are a one-stop mortgage shop of sorts. With access to lenders such as Fannie Mae, Wells Fargo and Chase, bankers are able to offer a vast array of home loans such as Conventional, Jumbo, FHA, VA and USDA. Unlike banks, mortgage bankers concentrate solely on mortgage lending without the distraction of other lending products or personal finance services. They typically employ in-house underwriters and loan processors; however, in this case, in-house loan processing translates into accelerated loan processing -this allows them to close loans within 30 days or less.


Mortgage brokers are federally licensed firms or individuals who sell loan programs on behalf of lenders. Loan officers who work for mortgage brokers facilitate your search for the most suitable mortgage product and structure your loan to suit your financial goals. The main difference between a mortgage broker and mortgage banker is that mortgage brokers do not process any loans – every loan is sent to the lender for processing. Additionally it is the lender, not the mortgage broker, who provide the funds for your loan.


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Disclaimer: To get an accurate payment with an accurate interest rate, please contact us to evaluate your personalized loan options. PMI – stands for Private Mortgage Insurance. You can leave the default value or remove altogether.

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Disclaimer: To get an accurate payment with an accurate interest rate, please contact us to evaluate your personalized loan options. PMI – stands for Private Mortgage Insurance. You can leave the default value or remove altogether.

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