Did you know that for just 1% reduction in interest rate saves you $100.00/mo in interest savings over 20 years? Refinance today! Example based on a $120,000 loan.

 

Southern Home Mortgage Corp offers a variety of loan programs to meet your needs. We work with the leading lenders in the industry to provide: FHA, VA, RECD(Rural Economic Community Development) and Conventional Residential Home Loans.
 
FHA (Federal Housing Administration)
RECD(Rural Economic Community Development) NO DOWN PAYMENT
Conventional
VA (Veterans Administration)

Rates last updated on Tuesday, August 30, 2016

FHA (Federal Housing Administration)

An FHA loan is a Federal Housing Administration mortgage insurance backed mortgage loan which are provided by FHA-approved lenders. FHA insured loans are a type of federal assistance and have historically allowed lower income Americans to borrow money for the purchase of a home that they would not otherwise be able to afford. To obtain mortgage insurance from the Federal Housing Administration, a mortgage insurance premium (MIP) equal to a percentage of the loan amount at closing is required, and is normally financed by the lender and paid to FHA on the borrower's behalf. Depending on the loan-to-value ratio, there may be a monthly premium as well.

Term: 30 years  

RECD(Rural Economic Community Development) NO DOWN PAYMENT
Term: 30 years  

Conventional
Term: 30 years  

VA (Veterans Administration)
Term: 30 years  



Unless otherwise indicated, these APR calculations are based on the following: Conforming loans (whose maximum loan amount is below $424,100 for the contiguous states, District of Columbia, and Puerto Rico or below $636,150 for Alaska, Guam, Hawaii and the Virgin Islands) are calculated based on a loan amount of $417,000 with closing costs of $8,340. Jumbo Loans (whose maximum loan amount exceed $424,100 for the contiguous states, District of Columbia, and Puerto Rico or exceed $636,150 for Alaska, Guam, Hawaii and the Virgin Islands) are calculated based on a loan amount of $1,000,000 with closing costs of $20,000. Your actual APR may be different depending upon these factors.