Loan Options

New South Mortgage offers a wide selection of loan packages to meet the needs of each customer’s unique situation. Because we work with many lenders, we take the hassle out of shopping for a loan by doing the shopping for our clients. Our long time relationships with lenders also enable us to offer discounts and rates not available elsewhere. We assume the overhead costs of the lenders and as a result we can offer lower rates. Whether you are a first-time home buyer or purchasing a million dollar second home, New South Mortgage develops creative solutions for every customer. A few of our loan options include:

• Conventional fixed rates insured by Fannie Mae and Freddie Mac
• Conventional ARMs (Adjustable Rate Mortgage)
• FHA loans for borrowers with credit scores as low as 580
• FHA loan with down payment grants to provide 100% financing
• USDA and VA loans that provide 100% financing
• Jumbo loans (>$484K) with 95% financing
• Jumbo loans up to $4MM
• Bank Statement Program for self-employed clients
• Conventional and FHA financing for manufactured homes
• FHA 203K and Conventional owner occupied renovation loans
• FHA construction loan
• Equity lines to 95%
• THE ZERO LOAN

BAD CREDIT?

Need a home mortgage, but concerned about bad credit? You’ve come to the right place! Many people don’t realize that certain loans can help people with bad credit. We can tell you about loan programs that can get you into a new home – even if you have less than perfect credit – because the loans are insured by the federal government. If you’ve had accounts forwarded to collections, have filed bankruptcy in the past, or have high debt, you still may qualify for an FHA or other portfolio mortgage options. These loans can work for you even if you don’t have much cash for a down payment or closing costs and we can guide you through any credit repair that may be needed,

We’ve worked with many people who described themselves as having “bad credit” – but who are now homeowners! The truth is that many more people qualify for FHA mortgages than for traditional mortgages. We even have FHA lenders that will allow down to a 580 credit score in certain situations. Our FHA specialists are ready to work with you to turn your dream of owning a home into reality. They’ll never judge you based on your credit history, and can tell you the specific steps you will need to take to own a home. Don’t hesitate to apply!”