Types of Home Loan Programs
At Service First, we provide different types of mortgage loans that will meet your individual needs whether you are looking to purchase or refinance a home. Check out the list below to learn more about the different loan options you can choose from during the home buying process.
Our loan team of highly trained professionals can help you select the right loan for you. Need help deciding which loan is right for you? Contact us today and we'll help get your questions answered. Contact us today!
- Repair Plus
You can use this loan for any repairs that your seller cannot or will not complete prior to closing.
- Liberty Plus
Our Liberty Plus loan gives you an option to pay mortgage insurance, which will help with reducing your monthly mortgage payments.
- Liberty Professional
This program is for those who have a professional degree and starting a new job. This program is for individuals who are on a regular salary with an employment contract. By choosing this loan, you can start your job and close on your home before you have the traditional 30 days of earnings.
USDA sponsors a loan program for properties located in designated rural areas for borrowers with low to moderate-income levels. USDA sets specific guidelines for this program that center around credit requirements, down payment, property location, and income limits.
- VA (Veterans Administration)
Service First Mortgage has always made our veterans a priority. We know our veterans deserve the best, so we give them the best. VA loans are available to eligible veterans, which allows them to buy a home or refinance a home loan.
- FHA Freedom Loans
This FHA program is not available to most lenders. FHA Freedom is for first-time homebuyers, no score buyers, or a borrower in need of a second chance.
- Jumbo (Non-Conforming)
Financing for large loans is still available. If you have a higher property value and can manager larger monthly mortgage payments, you should consider a non-conforming jumbo loan.
- Liberty Asset Jumbo
This loan allows you to use your qualifying assets in lieu of verifiable income. With this program, you can use up to a certain percentage of your qualifying assets as income.