What is the right loan for you? We know buying a new home, second home or investment property is one of the biggest financial investments you’ll ever make. That’s why we have put together information about all of our home mortgage loan products for you to review.
Loan Options
- Down Payment as low as 3%
- Easy Application
- No Private Mortgage Insurance (PMI) required for loans with 10% down
- Maximum closing costs of $1,000
- Home$tart Down Payment Assistance
- Purchase Only
| Rate as low as | *APR as low as |
|---|---|
| 6.625% | 6.748% |
- Only 15 year loan
- Interest Rate and monthly payments remain the same for the entire term of the loan
- Protection against rising interest rates
- Home$tart Down Payment Assistance
- Purchase or Refinance Option
| Rate as low as | *APR as low as |
|---|---|
| 6.375% | 6.657% |
- Interest Rate and monthly payments remain the same for the entire term of the loan
- Protection against rising interest rates
- Home$tart Down Payment Assistance
- Purchase or Refinance Option
| Rate as low as | *APR as low as |
|---|---|
| 7.000% | 7.180% |
- Purchase a more expensive property
- Variety of terms available
- Purchase or Refinance Option
| Rate as low as | *APR as low as |
|---|---|
| 6.875% | 6.909% |
- Flexible down payment options
- No minimum cash contribution required
- Affordable Payments
- Cancellable mortgage insurance
- No income restrictions in designated low-income communities
- Home$tart Down Payment Assistance
- Purchase or Refinance Option
| Rate as low as | *APR as low as |
|---|---|
| 6.500% | 6.672% |
- No closing cost options
- 10 or 15 year term with low fixed rate
- No annual fees
- Refinance Only
| Rate as low as | *APR as low as |
|---|---|
| 7.125% | 7.234% |
Rates effective as of November 20, 2024.
All rates are subject to change.
All rates quoted are listed in percent.
Payment Example:
Mortgage Loan: $100,000 borrowed for 360 months (30 years) with an APR of 6.00% would have a monthly payment of $599.55.
The payment example does not include amounts for taxes and insurance premium, if applicable, and that the actual payment obligation will be greater.
The terms listed are the maximum term available for qualified borrowers.
*APR = Annual Percentage Rate
**Interest rates are subject to change based on the type of loan, the collateral, loan to value, borrower’s credit history, account relationship, and automatic payments. Rates disclosed are the lowest rates available at SouthPoint Home Mortgage. Other conditions may apply.