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Home Loans

Our loans will help you navigate through buying, selling, building, or renovating your home, a process that we know can be a seemingly overwhelming task. Our experienced loan officers are local, knowledgeable, and ready to work with you on a personal basis. This translates to loans made at competitive rates and catered to your unique circumstances rather than being approved based solely upon anonymous statistics and averages. We offer a range of loan products to meet almost any home financing requirement. Purchasing a home can be a very exciting process to say the least. Give us a call today to get started. Or, crunch some quick numbers to see what an estimated mortgage might look like while you do your research.

Home Loan Options

Traditional Fixed Rate Mortgage

A fixed rate mortgage guarantees the interest rate for the life of the loan. This loan offers a predictable monthly payment of principal and interest. A long term mortgage loan offers lower monthly payments of principal and interest and greater buying power, but the interest rate is generally higher than a shorter term mortgage. A short term mortgage builds the equity in your home faster, with monthly payments approximately 15% to 20% more a month than the monthly payment on a long term mortgage of the same amount. First Palmetto Bank offers fixed rate loans over a wide range of terms.

Balloon Mortgages

Balloon/Reset Mortgages generally offer a competitive rate with a payment amount usually based on fifteen to thirty years with the total balance due after five years. Benefits include a fixed rate for the five year period with a payment based on a longer amortization term.

Construction/Permanent Loans

If you are considering building a home, this loan offers you the convenient advantage of having both your construction loan and permanent financing in one package with one closing. In certain cases, the interest rate on the loan is fixed while you build your home, and funds are disbursed based on the percentage of completion of the construction of your home. There are a variety of financing options from which you may choose.