Loan Servicing

Payments are due on the first of each month with a 15-day grace period. Your first payment date will be included in your loan documents. Borrowers will receive periodic reminders of the start date of principal and interest payments.

Your payment will be considered late if it is postmarked after the 16th of the month.

If you pay after the 16^th of the month, a 5% late fee will be added to your regular loan payment.

City First Enterprises (CFE) will send a link to the online payment portal, where you can set up your online account. Payments can be set up and made via ACH. If you did not receive the payment link, please contact your loan officer for assistance.

CFE also accepts payments by check mailed to the address above. Please include your loan number to ensure proper application of your payment.

ACH is the preferred method of payment.

Loan status and payment history information are available online through the payment portal.

For the most accurate payoff balance, please get in touch with your loan officer directly.

Yes! Payments during the deferred interest period will be applied to the accrued deferred interest. Any amount over the accumulated interest will then be applied toward the principal. Borrowers can submit additional payments anytime to pay down their loan faster. Any amount over the required monthly payment in year six will be applied directly to the principal. Please get in touch with us if you have any questions regarding the application of funds.

Please contact your loan officer as soon as possible to discuss your options and other assistance that can be provided. If your loan is over 30 days late, a representative will contact you about completing financial counseling through one of our partners in homeownership counseling.