Conventional Loans

Southern Trust Mortgage Company offers a wide array of conventional loan products with terms ranging from 10 years to 40 years. Conforming loan amounts up to $252,700 and Non-conforming (Jumbo) loan amounts up to $1,000,000 are available to qualified borrowers. Bi-weekly payments, interest rate buydowns and rate protection for extended lock terms are examples of options available to meet your special requirements.

Fixed Rate Mortgages

• 10-30 year terms
• Conforming loan amounts up to $252,700,
• Non-Conforming loan amounts up to $1,000,000.
• By-weekly payment options available
• 1st and 2nd mortgage combination loans available up to 95% LTV
• Owner occupied, second homes and investment property
• 2/1 buydowns are available on most conventional loans

Adjustable Rate Mortgage (ARM)

• Terms up to 40 years.
• Programs available with 1,2,3,5,7 or 10 year adjustment period.
• Option to convert to fixed rate is available on many programs.

Balloon Loans

• 5 or 7 year Balloon loans amortized over 30 years.
• Extension option is offered for the qualified borrower.

First Time Homebuyer

Southern Trust offers a number of low interest rate options for the First Time Homebuyer. The following requirements apply:

• Buyer has not owned a home for the past three years
• Limits on cost of acquired property
• Income limitations

No Down Payment

For the homeowner looking to move up, Southern Trust offers a unique product that couples a 1st & 2nd mortgage up to 100% financing with no mortgage insurance required. Only one closing is required to complete the transaction. This product is available for owner occupied primary residence only.

No Documentation

A true "No Doc" loan, with no income, employment or asset verification. A minimum down payment of 25% is required for this product.

Second Home and Investment

Southern Trust offers several programs for second homes and investment property with as little as 10% down.

Credit Impaired

Southern Trust offers a variety of alternative credit programs for those individuals who have experienced a blemished credit history.

Government Loans

Fixed Rate Mortgages - 30, 20 and 15 year term loans available

Adjustable Rate Mortgages (ARM) - We offer an FHA 1 year Adjustable Rate Mortgage, with a cap of 1% maximum adjustment per year and 5% over the life of the loan. Qualifying rate is 1% over the start rate.

Buydowns - We offer a 2/1 buydown on FHA loans, allowing you a payment 2% below the note rate for the first year, and 1% below the note rate for the second year of the loan. The actual note rate is paid from the third year through the remaining term. Permanent buydowns are available on both FHA and VA loans.

203k - An Extraordinary Renovation/ Repair loan for 1-4 family owner occupied properties. Renovate your existing residence or buy and improve a property with a single mortgage. The funds for repair and upgrade are included in the purchase mortgage - one loan to buy and fix up!.

Individuals

Southern Trust Mortgage Company offers individual borrowers construction/permanent options for financing new home construction:

One-Closing Construction/Permanent Loan

170 day Extended Lock-In with float-down option to a lower rate prior to modifying to permanent mortgage.