Loan Programs

The following is a partial list of programs offered by Service First Financial, LLC with a brief description of the key elements of each. For a complete list of the programs that we offer, please contact us at 970-377-0753 .


Traditional loan programs that usually require 5% down and offer competitive interest rates. Documentation and fair-to-good credit are necessary.

No Down Payment

0% down payment required and closing costs paid by the borrower (seller can contribute up to 6% towards closing costs).

Credit Problems

Troubled credit? Bankruptcy? Been turned down somewhere else? We offer options for customers with credit problems.

HomePath Program

HomePath® is a fixed-rate, fully amortizing loan program which offers low down payment options. Highlights of the HomePath® Program Include; • Available for Owner-Occupied, 2nd Home, and Investment transactions • No Mortgage Insurance required • No Appraisal required - LTV calculated from Fannie Mae sales price • Up to 6% seller contributions allowed • Fannie Mae must designate a property as eligible for a HomePath Mortgage • Minimum credit score starting at 660 • FLEX guidelines allow 3% down-payment funded by borrower, gift, grant, loan from non-profit, state or local government, or employer • Available for Conforming High Balance loan limits • Standard Conforming Limits; Owner occupied FLEX to 97%, Owner occupied to 95% LTV, 2nd home to 90% LTV, Investment to 85% LTV • High Balance Limits; Owner occupied to 90% LTV, 2nd home & Investment to 65% LTV


This is a loan which carries a second mortgage for up to 10% of the purchase price of the property. It is usually used when wishing to avoid PMI insurance or to keep your first mortgage under the FNMA/FHLMC limit to avoid Jumbo rates. The borrower puts down a 10% down payment and then finances a first mortgage up to the FNMA/FHLMC limit and a second mortgage of up to 10% of the purchase price.

Jumbo Loans

Offers 30 and 15 year fixed rate mortgage and competitive ARM products. Cash out and No cash out refinance are allowable. Single family detached, Condo's, PUD's and single-family second homes can be financed with no prepayment penalty.

95% One-Loan

One loan with a 5% down payment.

High Debt Ratio Loans

A ratio of monthly bills to monthly income higher than 45% is considered a high debt ratio. Loan programs are available for borrowers in this situation, allowing them to finance the purchase of a home or property.

Second Mortgage Loans

Subordinate to the first mortgage, these loans offer the borrower the ability to get money for home improvement, debt consolidation, or many other reasons without disturbing their first mortgage. Convenient when you have a low interest first mortgage.

Construction Loans

Building a new home can be an exciting prospect - unless you get caught up in a construction loan approval process that is overly complicated and time consuming. With this loan, we will finance up to 90% of the cost of land plus the costs of construction. We offer a one-time fixed rate closing or traditional ARM products.

Investment / Rental-Property Loans

Used to finance 1-4 family properties that will be for investment. Aggressively priced, these programs have many variations. Program may not be available in some states.

FHA Mortgage

Backed by the Department of Housing and Urban Development, this mortgage offers the borrower the ability to put as little as 3% down payment – and they can even finance “allowable” closing costs. Seller can contribute up to 6% of the purchase price to the buyer towards closing costs.

Flex 97%

Similar to FHA, but without maximum mortgage amount limitations. Must be a single family, owner occupied home and borrower must have a credit score of over 680.

VA Mortgages

Backed by the Veterans Administration and the federal government, it is similar to FHA except that you have to be a qualified Veteran or military person.

USDA / Rural Housing

The USDA loan is designed to assist qualifying rural residents with better access to affordable financing options. Highlights of the USDA Rural Program Include; • Owner-occupied primary residence only • LTV/CLTV is 100% of market appraised value and may include all recurring and non-recurring closing costs • Single family non-farm residences, approved condos, and PUDs • Purchase and Rate/Term refinance available • 30 year fixed rate • Generous income limits • No maximum purchase price • No monthly mortgage insurance • Guaranty fee of 3.5% may be financed above 100% LTV • Max LTV for refinance is 101% • Max LTV for purchase is 103.5% when the guaranty fee is financed • The property must be located in a designated rural area as determined by the RHS office • Flexible credit guidelines • Not limited to first-time homebuyers • No asset or reserve requirements • New construction properties are eligible