AFFORDABLE HOUSING PROGRAM
and YOU'VE GOT THIS.
The world of home loans can be overwhelming and intimidating – especially for a first-time homebuyer. Our kind and compassionate mortgage advisors at Southern Bank are here to walk with you every step of the way. We’ll explain the meaning behind terms like variable rate, adjustable rate, PMI, etc., helping you figure out the best path forward for your circumstances and your budget.
Home Ownership Is Within Reach.
The Southern Bank Home Team Advantage – your personalized support throughout the process – includes a special program for first-time homebuyers.1 Qualified buyers benefit from several Affordable Housing loan features that help make your dream of home ownership a reality.
- Borrow up to 97% of the cost of your home2
- Gifts and grants can be used to cover your 3% down payment
- Fixed-rate financing
- Private Mortgage Insurance (PMI) is not required
- The seller may pay closing costs and prepaids
- Liquid assets cannot exceed $75,000
- A free homebuyers course is required
1Applies when purchasing a single-family residence (modular or stick-built) as a primary residence.
2There are income limits for this program. Talk with your Home Team Advisor for more details.
All loan products are subject to credit approval.
Let's talk.
Please give us a call at 1.855.275.7226 or fill out the form below, and we’ll be in touch soon to answer your questions and determine the right solutions for you.
