Security 1st Bank

Mortgage Loan Options

Whether you’re buying a home, fixing the one you have or refinancing your current mortgage, Security First Bank offers professional advice, affordable financing solutions and a wide range of mortgage loan options.

Special Offer Now Extended Until the End of the Year!

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*Offer good until 12/31/2017 on loans approved on secondary market only. Must mention or present this coupon with credit application. Not redeemable for cash. Subject to credit qualifications and other restrictions apply. See bank for details. NMLS# 505011.

 

SECONDARY LOANS

Conventional Mortgage

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This is a traditional fixed-rate loan that provides predictable rates and payments. The underlying terms meet the funding criteria of Fannie Mae and Freddie Mac.

VA Loan

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This type of loan is administered by the Department of Veterans Affairs and provides the opportunity for American Veterans to buy a home with no down payment.

Federal Housing Administration (FHA) Mortgage

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This type of loan is insured by the FHA and assists home buyers who have lower down payments, along with more flexible income or credit requirements.

Rural Development

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A USDA Rural Development home loan offers qualified borrowers in rural communities a chance to obtain a home loan with easier qualifications and financing options than other conventional loans.

Federal Home Loan

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This type of loan is a long term, fixed-rate loan with competitive pricing. These loans are serviced by the bank. The underlying terms meet the funding criteria of Fannie Mae and Freddie Mac.

First-Time Home Buyer Grant

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This is a fund that can be utilized with secondary market products to assist with down payments and/or closing costs. These grants are available in qualified areas only.

 

IN-HOUSE LOANS

 

Construction Loan

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This type of loan is for both builders and homeowners, and is used to fund home construction. One the home is completed, permanent financing, generally a mortgage loan, is established.

Home Equity Loan

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Homeowners can borrow against the equity in their home to finance major or specific expenses.

Home Equity Line of Credit (HELOC)

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Borrowers can use the equity in their home to access an ongoing line of credit, up to a determined amount, to meet ongoing cash needs.

Jumbo Loan

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This type of loan is for well-qualified borrowers interested in purchasing a home or property that exceeds the conforming or secondary market loan limits.

Fixed-Rate Loan

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This type of loan features the same interest rate and monthly principle and interest payments throughout the entire term of the loan.

Adjustable Rate Mortgage (ARM)

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This type of loan offers borrowers a low, fixed-rate for 10 years. After the fixed-rate period expires, the interest rate and payment may increase. Various amortization options are also available.

First Time Home Buyers Grant

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This is a fund that can be utilized with in-house loan products to assist with down payments and/or closing costs. These grants are available in qualified areas only.