The Loan Process

Loan Options

Service First offers a variety of loan products to meet your needs.

CONVENTIONAL

HomeReady®/Home Possible®
Designed to serve today’s market of creditworthy, low-to moderate-income borrowers and communities.

Cash Out Refinance
Turn your home’s equity into cash to consolidate debt, make home repairs, pay for education, and much more.

BUILDER/RENOVATION

2/1 Buydown
Buy today, with last year’s rates!
Great for builders or listings that need to attract interest.

Pool Escrow
Allows borrowers to buy a new home and include the cost of a new pool.

Renovation Loans
Allows borrowers to purchase or refinance a home that needs repairs and includes the funds needed for
renovation in the loan balance.

GOVERNMENT

FHA
FHA loans typically provide lower interest rates and lower down payment requirements, making it an attractive first time home buyer program for buyers with credit scores above 580.

VA
Reserved for veteran and active duty buyers and do not require a down payment or monthly mortgage insurance.

USDA
Properties in eligible rural areas, do not require a down payment, have low monthly mortgage insurance, and may allow closing costs to be rolled into the loan.

NON-TRADITIONAL

Jumbo Loans
Designed for loans above $548,250 and up to $3 million. Interest-only ARMs are also available.

Bridge Loans
Helps buyers avoid the hassle of selling their current homes before the purchase of their new homes.
Eliminates contingencies and makes offers more attractive to sellers.

Inherited Property
Finance the family property without the hassle.

Bond/Grant
Helps underserved buyers purchase homes by utilizing one of several available State and local bond/grant
programs.