Personal Lending

Installment Loans

• Installment loans made for nearly any purpose to qualifying applicants
• Rates always competitive, and lenders work hard to provide fast turn-around from the time completed application is received to final approval

Mortgage Loans

• Fixed rate or adjustable rate (ARM) mortgages available at competitive rates with moderate closing costs
• Generally no penalty for pre-payment
• Southern Commercial Bank can service your mortgage for the life of your loan

Home Equity Credit Lines

• Home equity loans may be used as a personal line of credit to cover all financial requirements, including home improvements
• Competitive rates
• Funds may be used all at once or over a period of time
• Rates fixed for up to 3 years, as well as variable-rate loans available
• Interest-only option available.  You may however have to make a balloon payment when your loan matures.
• Maximum line depends on the equity you have in your home and other credit factors
• Interest is generally tax deductible. See your tax advisor.

New Home Construction Loans

• Home building loans are available at competitive rates and moderate closing costs
• Pay interest only on funds disbursed
• Funds disbursed by title company
• Monthly bills for interest due
• No penalty for pre-payment
• You may be able to roll construction loan into an amortized mortgage loan