Construction Loan
Build your dream home from the ground up.
New construction loans for building homes. Personalized support, competitive rates, extended rate locks, and one-time close options available.
NOW!
Southern Bancorp believes that homeownership is an important part of building generational wealth, and access to an affordable mortgage is an opportunity that should be within reach of everyone, no matter their financial story. Whether you are new to the home buying process or a seasoned veteran, Southern Bancorp has the tools to help you realize your homeownership dream.
FIND A LENDER NEAR YOU
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OUR LEADERSHIP
At Southern Bancorp, we're dedicated to revolutionizing accessibility and guiding every individual toward their path to homeownership. Whether someone needs help with an affordable mortgage, down payment assistance, or homebuyer counseling, it's not just about opening doors; it's about ensuring everyone has the key to unlock the possibilities of a brighter future.
— Jeremy Ray Davis, President of Mortgage
RUN THE NUMBERS
Use these calculators to help crunch the numbers and make estimates for mortgage payments, affordability, and more!
Monthly Payment
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Principal & Interest
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Property Tax
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Insurance
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While using the calculator, keep in mind that the displayed dollar amounts are not guaranteed, and your actual payments may vary. The estimates provided are for illustrative and educational purposes only.
Available Home Equity
Based on your home value and mortgage balance, here's how much equity you may be able to access at different loan-to-value ratios.
80% LTV
Most common
85% LTV
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90% LTV
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95% LTV
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These estimates are for illustrative purposes only. Actual available equity depends on your lender's requirements, credit profile, and property appraisal.
Max Cash-Out Available
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Adjusted Cash-Out
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New Loan Balance
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New Monthly Payment
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These estimates are for illustrative purposes only. Actual cash-out amounts, rates, and payments depend on your lender's requirements, credit profile, and property appraisal.
You Can Afford Up To
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Loan Amount
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Down Payment
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Est. Monthly Payment
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Assumes housing costs target 30% of gross income and total DTI cap of 36%. These estimates are for illustrative purposes only.
DOWN PAYMENT ASSISTANCE AVAILABLE
Need help with your down payment?
1
WHAT IT IS
Down payment assistance programs provide financial aid to homebuyers, making homeownership more accessible, particularly for first buyers or those with limited funds.
2
WHAT ARE MY CHOICES?
There are grant and second-lien options for first-time homebuyers, civil and essential workers, minority families, and more! Just ask your Mortgage Community Development Lender.
3
DO I QUALIFY?
Each DPA is different and has different qualifications. Your Lender can go over options with you to see what fits your needs.
Raise your financial wellbeing with HomeRise100.
Southern Bancorp is committed to making homeownership a possibility for everyone. With an affordable mortgage fueled by HomeRise 100, you can purchase your home with a minimum of a $1,000 contribution, making the process affordable and sustainable.
- Minimum 640 FICO score
- 105% Maximum CLTV
- Down Payment Assistance and Gift Funds Allowed
- No mortgage insurance
- Homebuyer Education is Required for First Time Homebuyers
- Income limits may apply
FIND THE LOAN THAT FITS YOUR NEEDS
Conventional Loan
Flexible financing. Competitive rates.
Conventional mortgage financing for primary residences, second homes, and investment properties. Competitive rates with flexible closing cost options.
FHA Loan
Low down payments. Favorable rates.
FHA-insured loans with low down payments, less restrictive credit requirements, and favorable interest rates.
HomeRise100
Purchase your home with just $1,000.
Our affordable mortgage program lets you purchase your home with a minimum $1,000 contribution. No mortgage insurance required.
Jumbo Loan
For high-value properties up to $3M.
Jumbo loans for high-value properties and larger loan amounts. Accommodates up to $3 million with no mortgage insurance required.
Refinancing
Lower payments. Shorter terms. Your equity, your way.
Refinance to leverage your home equity, reduce your monthly payment, or shorten your loan term. Multiple refinancing options to fit your financial goals.
Revive25
Up to $25K toward your next home.
Down payment assistance program providing up to $25,000 as a 15-year mortgage at 0% interest. For down payments, closing costs, and prepaids.
USDA Loan
Up to 100% financing in rural areas.
USDA-backed loans for individuals and families in qualifying rural areas. Up to 100% financing with no minimum down payment required.
VA Loan
$0 down. No mortgage insurance.
VA-insured loans for active duty personnel, veterans, and surviving spouses. $0 down payment options, no mortgage insurance, and up to 100% financing.
Access to an affordable mortgage and the opportunity of homeownership should be within reach of everyone, no matter the zip code, starting point, or income level. That's the mission that moves us at Southern Bancorp, and it's the service we provide to everyone in our communities.
GET THE MOST FROM YOUR REFINANCE
Find affordable mortgage solutions that fit your financial needs.
GET IN TOUCH
Fill out the contact form below and one of our mortgage team will reach out to explain your options and opportunities.