Customized mortgage options to meet your individual needs.

 

Welcome to Security First Financial, a Division of PRMI. As a reputable and highly rated Colorado Mortgage Lender, our goal is to provide friendly, personalized service to make our customers' lives easier.

 

We'll work closely with you to help you understand your options and guide you towards finding a home loan that meets your needs, whether you're looking to buy your first home, invest in a property, or refinance your current mortgage.

 

We specialize in a wide range of home loans, including...

We are proud to have assisted thousands of borrowers throughout the beautiful state of Colorado in realizing their dream of homeownership.

Contact our mortgage company today to discuss your options, or start the process by applying online.

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Making Home Loan Applications Simple

With Security First Financial, obtaining a mortgage loan is simple. In addition to providing a variety of home loans tailored to your specific needs, we take pride in our streamlined application process known as ClickApproval™. It's a quicker, easier, and more secure way to apply for a home loan.

Our local team takes great pride in giving each client the individual attention they deserve. We provide a positive and personal mortgage experience for our clients because we take the time to assess their mortgage needs and desires and customize a solution based on their specific goals. Learn about our team and feel free to contact us with any questions.

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Portrait Of Excited Couple Standing Outside New Home
Happy loan originator and her clients listening while analyzing a document during a meeting
Nov 17, 2021 10:36 AM

by: Security First Financial, A Division of Primary Residential Mortgage, Inc.

Most homebuyers enjoy talking about their new homes. They want to share their exciting new purchase and tell others how they can do it too. But every homebuying situation is different and all that talk can be misunderstood. So, we at Security First Financial want to debunk some common mortgage myths you may have heard through the grapevine.

Myth #1: You must have a 20% down payment

While having a good chunk of money to put toward a down payment can help with the cost of your loan and help kick start your equity, you don’t necessarily need twenty percent.* We offer a variety of loans for people in all kinds of financial situations, including little to no down payment options.**

*Possible loan scenario: 30-year term with 3.730% APR, a $245,471 loan amount, and zero down. **Closing costs and fees may still apply.

Myth #2: You must have great credit

Similar to our first myth, good credit can be more of a nice-to-have than a must-have. If you have perfect credit, kudos to you! You might get more favorable interest rates. But, if you have mediocre credit or even a credit score that needs work, you have options. 

Talk to one of our Loan Originators to learn about FHA loans, VA loans, or loans with adjustable interest rates. We’ll help to find a loan to fit your score.

Myth #3: Pre-qualified is the same as pre-approved

Pre-qualified DOES NOT mean pre-approved.

Getting prequalified involves providing your Loan Officer with some basic financial information. Then they give you an estimate for how much you may be able to borrow. Getting pre-approved takes more work. The lender needs to collect and verify all the information and present it to the underwriter to get approved.

Myth #4: A 30-year fixed mortgage is a loan for anyone

No loan is one-size-fits-all. The loan you need depends on your situation. How long do you plan to stay in the house? If it’s fewer than five to seven years, you may want an adjustable-rate mortgage (ARM) because they often have smaller interest rates the first few years. Are you near retirement age? If so, a 15-year fixed mortgage with no prepayment penalties might be what you want. Meet with a Loan Originator to discuss the options that are right for you.

Myth #5: Your down payment covers all your upfront costs

In addition to your down payment, you will likely have other expenses when buying a home. The most common expenses are fees and closing costs. If you have a down payment, these fees can eat into how much goes toward the loan. Either way, they may affect how much you can afford to borrow.

Knowing these costs and planning ahead for them can help keep you within your budget.

Remember, every situation is different. Just because someone had one experience when buying a home, doesn’t mean it’s that way for everyone. Know the facts and talk to a Loan Originator.

Contact one of our Local Loan Originators today to learn about home mortgages.


Original blog post by Primary Residential Mortgage Inc.: https://www.primeres.com/about/blog/article/2020/05/04/5-mortgage-myths-debunked