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Southern Mortgage

If you are thinking of buying a home, we have good news. Whether you’re buying your first home, your dream home, or your retirement home, Southern Bank has financing options to meet your needs. Here is a sampling of the choices you have as a home buyer or owner:

Affordable Housing Programs

Southern Bank offers a number of ways for home buyers with modest incomes and limited savings to turn the dream of home ownership into a reality. These programs are generally easier to qualify for than a conventional mortgage.

USDA Government Backed Mortgages

Rural Development’s housing programs finance new or improved housing for very low-to-moderate income families and individuals who wish to live in rural areas or rural cities and towns. The purpose is to provide financing with no down payment and at favorable rates and terms. Guaranteed loans are available to qualifying applicants who would not be able to purchase a home with a conventional loan without the loan guarantee.


A VA loan is a federal program for veterans, members of the military, or a surviving spouse of a veteran purchasing a primary residence. A VA loan allows a qualified borrower to finance 100% of the home’s value and purchase with no down payment.

Conventional ARM Rate Mortgages

Adjustable Rate Mortgages offer a fixed initial interest rate during a designated period of time and subsequently offers a variable interest rate. The combination of this interest rate structure could result in significant savings, depending on your long term plans for your home. Terms for the fixed period are generally 3, 5, 7, or 10 years. Once the initial fixed rate period expires, the interest rate will begin adjusting up or down. Each potential interest rate adjustment is set with a maximum or “cap” regarding how high the interest rate can reach over the life of the loan.


If you are in the market to buy a larger home, a JUMBO product could be the product of choice. If the loan amount requested exceeds the conforming loan limits established by the industry guidelines, we have just the right flexible options. These options allow you to decide which best suits your individual requirements

Professional Program options

You may be eligible for this specialized loan product designed for particular professions. Ask your Mortgage Loan Officer more about this unique offering.

Conventional Fixed Rate Mortgages

As the most popular mortgage program for home buyers, a fixed rate mortgage offers the stability and consistency of predictable monthly principal and interest payments for the life of the loan, from 10 to 30 years. It may be a good choice for people who expect to live in a home for an extended period of time, or who want to lock in current low interest rates. Fixed rate mortgage payments remaining constant will allow you to plan and budget without factoring potential interest rate fluctuations.

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