Southern Trust Mortgage
If you are interested in purchasing a home, consider getting a loan from Southern Trust Mortgage. The company has competitive interest rates and loans that are suited for first-time homebuyers. It is also a regional lender with several locations in the US. Read on for more information about the mortgage lender. Also, keep in mind that you have a choice between a fixed rate and adjustable-rate mortgage.
Southern Trust Mortgage offers loans for first time homebuyers
First time homebuyers have several options to consider. There are loans available that allow down payments as low as 3%. These loans are commonly known as conventional mortgages and conform to requirements set by the mortgage financing agencies. Typically, borrowers need a credit score of 620 or higher to qualify for these loans. They can choose between a fixed-rate and adjustable-rate mortgage. A fixed-rate mortgage has a fixed interest rate for life, while an adjustable-rate mortgage (ARM) can change. This can affect the monthly payment amount.
A loan officer at Southern Trust Mortgage can walk you through the process and help you make the best decision. Their goal is to make the entire process simple and stress-free. They can help you stay focused and help you get pre-approved for the loan. Before you even hire a real estate agent, make an appointment with your loan officer. Having a pre-approval letter is important when you are shopping for a home, as it shows that you are serious about making a purchase.
If you’re buying a home for the first time, you can choose from several types of loans. There are VA loans and FHA loans, and you can even find loans for first-time buyers through the USDA Rural Development Guaranteed Housing Mortgage. These government-backed loans have lower credit requirements and down payment requirements. The down payment may even be as little as 3.5% of the total purchase price. In order to qualify, you must pay mortgage insurance premiums to protect the lender.
Competitive interest rates
Southern Trust Mortgages provides home finance services at competitive interest rates. Its seasoned loan officers have extensive knowledge of the industry and can find the most competitive mortgage loan rates for your needs. These mortgage loan rates are based on information from the Federal Financial Institutions Examination Council (FFIEC), an agency of the Federal Reserve Board. They are based on a sample of mortgages originated within the last year. The data are weighted by various factors, including loan-to-value ratios, loan-to-income ratios, and term.
Since 1998, Southern Trust Mortgage has been trusted by over 70,000 families to make home buying easy and painless. The company’s innovative and consistent approach makes the home-buying process simple and stress-free. It works with clients for months to understand their goals and create an integrated plan that helps them achieve those goals. Its mortgage loan programs are flexible, so you can start moving on your dream home as quickly as possible.
Loans for first time homebuyers
There are several types of first-time homebuyer mortgages available, including fixed-rate mortgages and adjustable-rate mortgages. Fixed-rate mortgages have a constant interest rate and monthly payment for a specified period of time, typically fifteen or thirty years. Adjustable-rate mortgages, on the other hand, have variable interest rates and may be a better option if the buyer is planning to sell the house before the rates go up. These mortgages also have low down-payment options.
Southern Trust mortgages for first-time homebuyers offer a range of different programs. For instance, “Good Neighbor” loans are available for key members of the community. Other types of loans include VA and FHA loans. There are also reverse mortgage and refinancing options.
FHA mortgages, on the other hand, have stricter credit requirements. They require a minimum credit score of 580 with a minimum 10 percent down payment. FHA mortgages also require borrowers to pay mortgage insurance. This entails an up-front fee of 1.75 percent and annual premiums.
The Community Affordable Loan Solution program offered by Bank of America also offers a low-down payment and mortgage insurance requirements for borrowers who are first-time homebuyers. Borrowers may qualify for this program if they are a member of a minority or low-income neighborhood. The program’s criteria are based on race, income, and credit score.
Southern Trust Mortgage is a regional lender based on the east coast. The company is growing rapidly in the Carolina and Virginia regions, and it is expanding into the northern regions as well. It is led by Brian Picker, SVP and Regional Manager. Brian has extensive industry knowledge and focuses on helping loan officers grow in their career. This includes providing resources and tools that help them build their business.
Southern Trust Mortgage is a full-service mortgage lender with diverse product lines. They recently announced the opening of a new branch in Venice, Florida. This office will be their second in Florida and their 24th on the East Coast. Nic Gills, vice president of marketing at the branch, has 15 years of experience in the mortgage industry. He specializes in first-time homebuyers, conventional loans, and FHA loans.
Southern Trust Mortgage has 17 regional branch offices in the mid-Atlantic region. Founded in 1997, the company offers a full range of mortgage products. It is a full-service lender with offices in Maryland, Virginia, Georgia, and Pennsylvania. The Chester branch is managed by Nicholas Gills and includes loan officers Alicia Schimbeck and Jordan Mayoral.