Loan Options

Whether a first-time home-buyer who needs a mortgage with no down payment or an experienced investor looking to build a home with no money out of pocket, New South Mortgage offers a variety of loan packages to suit nearly every customer in any phase of their financial life. Over the years, we have built strong relationships with dozens of lenders that enable us to offer discounts and rates not available elsewhere. At New South Mortgage, our consultants actually “shop” the best deal with these lenders to find creative solutions for your unique situation. If you think you can’t afford that house, let us find a way that you can. Listed below, you’ll find just a sample of the programs we have to offer.

The Zero Loan
Mortgage loan withzerodown payment,zeroorigination, andzerohassles.

The Option ARM
an adjustable rate mortgage that allows you to choose your monthly payment and builders recommend us because they trust we will always provide the highest level of service.

10-, 15-, 20-, 25- and 30-year loans

1-, 3-, 5-, 7- and 10-year ARMs

Interest-Only Payments

Lot Loans

Construction Loans

100% Financing Programs
These programs are ideal for borrowers with no down payment and first-time homebuyers.  Even if you have owned a home before, you can qualify for these programs.  Sellers are allowed to pay up to 3% of the sales price towards your closing cost.  We have loan programs that go up to $1,800,000.  These programs include no mortgage insurance, lender paid mortgage insurance and tax-deductible mortgage insurance options.  Let us show you the benefits of 100% financing.

My Community Mortgage Program
This program which is not credit score driven is ideal for borrowers seeking 100% financing.  This loan has reduced mortgage insurance, that is tax deductible.  The My Community Mortgage Program has payment options with terms up to 40 years with interest only payments available.  This program allows for the seller to pay the borrowers’ closing cost up to 6% of the sales price and requires no contributions by the borrower.  Let us show you the cost savings and benefits with the My Community Mortgage Program.

State Housing Program
This program is ideal for borrowers that can contribute up to 3% of the purchase price toward their down payment.  This loan has a fixed rate that is below market interest rates and a lower tax deductible mortgage insurance payment.  We provide a 97% loan and the South Carolina Housing Authority provides a $2,000 deferred second mortgage.  In additon, the South Carolina Housing Authority provides approved borrowers with an additional $2,000 “forgiven grant”.  These are special benefits for single parent families and borrowers with disabilities.  Let us help you determine if you qualify for this program.

VA Loans
This program is ideal for veterans, active military and reservists.  This allows financing up to 100% of the purchase price and the seller can pay all of your closing costs.  The veteran does not pay mortgage insurance, but rather finances a “funding fee” to the VA which is included in the loan amount.  Let us help you take advantage of your guaranteed loan.

Alternative Documentation
These programs are ideal for borrowers that have difficulty documenting income and/or assets.  They are designed to accomodate the self employed, commissioned and bonus income borrower.  For individuals that cannot provide income and asset documentation, we have a wide selection of No Doc Programs to meet your needs.  These programs come in a variety of fixed and variable rates with Interest Only features.  They include 100% financing and no loan size is too large for our Alt Doc family of products.  Let us show you creative ways to overcome income and asset documentation issues.

Investment Properties
This program is ideal for the real estate investor.  We offer programs that will finance up to 100% of the purchase price.  The borrower can use the projected rental income to offset the payment for qualifying purposes.  Let us help you create wealth with properly structured real estate investor loans.

Construction Perm
This program is ideal for borrowers wanting to build their dream home, a vacation home or investment property.  We have programs that go up to 95% of appraised value which allows the borrower to build with no cash out of pocket!  Our one-time close interest only Construction Perm loans are available for full doucmentation, stated income, and no ratio borrowers.  Let us construct the perfect loan to finance your dream home.

Option ARM
This program is ideal for the borrower seeking the ultimate the payment flexibilty.  The Option ARM borrower has a required monthly payment that is less than the accrued interest while maintaining the ability to make a larger payment at anytime.  This program is ideal for self employed, commisioned and bonus income borrowers.  In addition, it is a great way to cash flow your investment property.  Let us explain how the most creative mortgage product on the market can benefit you.

For more information, check out our “Build your Perfect Loan” section here.