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Carolina Alliance Bank offers a variety of loan programs to meet your needs.

 

Fixed Rate Mortgage
A fixed rate mortgage has the same interest rate and monthly payment throughout the term of the mortgage which provide a stable payment for the life of the loan.  10, 15, 20 and 30 year fixed rate terms are available.

 

Adjustable Rate Mortgage (ARM)
An Adjustable Rate Mortgage offers a low initial interest rate and payment. After the initial fixed interest rate period has passed, the interest rate and payment adjusts annually.  3/1, 5/1, 7/1 and 10/1 ARM loan programs are offered which can be great for people moving before the initial fixed period.

 

FHA Mortgage
An FHA mortgage allows for the refinance or purchase of a home with a low down payment.  These loans are great for first time buyers and those looking for minimum down payment requirements.

 

VA Mortgage
The Department of Veterans Affairs offers a guaranteed mortgage loan to eligible veterans.  This special program makes it easier to finance the purchase of a new home by offering 100% financing. 

 

Rural Housing Mortgage (USDA RD)
The Rural Development authority offers this loan program to provide 100% financing for eligible homebuyers to buy homes located in designated rural areas.  This program is only available for the purchase of a primary residence.

 

Construction/Renovation Financing
A construction loan offers financing if you are planning to build a home or want to make renovations to an existing one.  Interest only payments are made during construction based on the amount borrowed.  Once the construction phase is complete, loans can either be refinanced into fixed rate or ARM mortgages.  The borrower can choose one loan closing for the loan, which automatically modifies into a portfolio ARM mortgage loan, or refinance into a fixed rate conventional mortgage.

 

Property Lot Loan

Found the perfect land to build your dream home? Whether you plan to build your home right away or a few years from now, we can help get you started.  Our Lot Loan is a loan that can be used to finance the purchase of land or a lot for your new home.

 

JUMBO Loan

 A jumbo loan provides financing for loan amounts higher than the maximum conforming limits set by Fannie Mae and Freddie Mac, currently $424,100.  If you have a higher value property, we can help with that purchase or refinance.

 

Bridge Loan

A twelve month interest-only program that allows buyer to purchase a new home before selling their existing home.  This loan is secured by both properties and offers a fixed rate.