As the Credit Union for the Internet Community, AllSouth has learned that it must be an expert in a wide variety of Mortgages to assist our members with their home financing needs. AllSouth Federal Credit Union offers fixed rate and adjustable rate mortgages along with fixed rate VA loans with terms up to 40 years. We also offer home equity lines, fixed rate second mortgages and many other mortgage products.

Visit our Online Mortgage Center for comprehensive mortgage lending information or to submit your first mortgage application online. To apply for a second mortgage or a home equity loan, click here.

Please note: AllSouth Federal Credit Union only offers mortgages on real estate within the State of South Carolina.

FIRST MORTGAGE LOAN
AllSouth offers fixed rate First Mortgage Loans with terms up to 40 years to assist you with your home purchase, refinancing or home improvement needs. Just some of the benefits of these loans are:

• Choice of either low fixed or adjustable interest rates.
• Finance up to 100% of the purchase price of your primary residence.
• Cash-out refinances available up to 90% of the appraised value.
• AllSouth services almost all of our first mortgage products.

Products Offered:

3/1 Fixed Period Adjustable Rate Mortgage - Our lowest rate mortgage gives you the lowest payment! Extremely low initial interest rate is locked in for the first 3 years of the loan. Subject to annual adjustments after 3rd year - 2% annual and 6% lifetime rate caps. (No origination fee on ARMs.)

5/1 Fixed Period Adjustable Rate Mortgage - Combines the advantages of a low interest rate and payment with the stability of locking in the initial rate for the first 5 years. Subject to annual adjustments after 5th year - 2% annual and 6% lifetime rate caps. (No origination fee on ARMs.)

7/1 Fixed Period Adjustable Rate Mortgage - Offers even greater stability because the low initial interest rate is locked in for a full 7 years prior to any interest rate adjustment. Subject to annual adjustments after 7th year - 2% annual and 6% lifetime rate caps. (No origination fee on ARMs.)

Reverse Mortgage - Available to senior members age 62 and older regardless of their credit history or income level. Provides the ability to convert some of their home's equity into cash without any monthly payments. Ideal for senior members who may be struggling financially or who simply need extra cash.

My Community Mortgage - Allows low to moderate income home buyers to finance up to 100% of the purchase price with reduced private mortgage insurance costs and no minimum contribution requirement. Great program for 1st time home buyers looking to minimize or eliminate out of pocket costs.

SC State Housing Authority Loan Programs - We are now partnered with the SC State Housing Authority to offer our lowest fixed rate option. Single parents can qualify for an even lower rate. Up to $5,000 in forgivable down payment/closing costs assistance is also available to cover most out of pocket expenses.

Traditional First Mortgage - Can be used to purchase or refinance your primary or second home. Terms up to 95% of value and up to 40 years.

Community 97 - Allows you to purchase your primary residence with only a 3% down payment at the same rate as our traditional first mortgages. There are maximum income restrictions for this loan. 25 and 30 year terms only.

Flexible 100 - Allows you to purchase your primary residence with no down payment as long as the borrower contributes a minimum of $500 towards closing costs.

VA Guaranteed Mortgage - Allows members with VA eligibility to purchase their home with no money down, or refinance their existing VA home loan.

Investment/Rental Property - Purchase or refinance a rental home. Terms up to 12 years and 80% of the property value.

Construction Loans - Build your dream home. Maximum loan is 80% of the combined value of the lot and proposed home. Two construction loan options are available.

Jumbo Loans - For purchase or refinance of your primary residence when the loan amount exceeds the current conforming limit of $417,000. Terms up to 95% and 30 years.

Unimproved Property - Purchase or refinance a lot or piece of land for future use. You can borrow up to 80% of the value for 12 years or less.

Mobile/Modular Home with Land - Finance your mobile or modular home together with your land. Terms vary depending on home type.

FIXED RATE SECOND MORTGAGE LOAN
AllSouth Federal Credit Union also provides fixed rate Second Mortgage loans. Members may apply for up to 100% of their home's value less any existing first mortgage balance, and can repay up to 12 years. You can apply for this loan using our Consumer Loan Application.

HOME EQUITY LINE
The Home Equity Line allows members to borrow against their home's accumulated equity without disturbing their savings or other investments, or without relying on more costly types of loans. The Home Equity Line has a low interest rate that is subject to change monthly and there are no loan-advance fees or annual fees.

Members can establish a credit line for a maximum of 100% of their home's value less any existing first mortgage balance. You can apply for this loan using our Consumer Loan Application.

At AllSouth Federal Credit Union, we’re committed to meeting your financial needs and offer several mortgage loan products designed to fit your lifestyle and budget. Whether you’re planning on buying your dream home, or refinancing an existing property, AllSouth has a mortgage loan just right for you.

To learn more, call our mortgage department, (803) 736-3110 ext. 3230 or
e-mail us at: mortgage@allsouth.org.