There's a lot that goes into buying a home, but we're here to help you make an informed decision. Whether you're a first-time homebuyer or looking to buy or build your home, at Southern Bank you can find competitive rates, customized repayment terms, and localized processes.
There's no place like home.
Find out what loan type is right for you:
A fixed-rate mortgage has an interest rate that remains the same for the life of the loan. A fixed-rate mortgage is the most popular type of financing because it offers predictability and stability for your budget.
Adjustable-Rate Mortgages (ARMs)
An adjustable-rate mortgage (ARM) is a loan in which the interest rate may change periodically, usually based upon a pre-determined index. The ARM loan is especially good for people that might move soon, since the fixed-rate period is typically 1 to 7 years and could adjust afterwards.
USDA Mortgage Loans
A USDA home loan is a zero-down payment mortgage for eligible rural and suburban homebuyers. Eligibility is based on the buyer and the property. First, the home must be in a qualified “rural” area, which USDA typically defines as a population of less than 20,000. Second, the buyer must meet USDA income caps and residence regulations.
Construction loans are short-term interest-only loans used while you are building or remodeling. When you're ready you can look into obtaining a more long-term option.