Low Interest Mortgage Program
Beaucatcher Heights Development Corporation is a developer customer of Citizens South Bank. Therefore, our owner/occupied customers have the opportunity to be considered for the *low-interest mortgage program by Citizens South Bank.
- 3.875% fixed interest rate for the first two years
- 4.875% fixed interest rate beginning in 25th month
- 30-year term
- 80% loan to value (“LTV”) ratio based on the lesser of value or cost (75% LTV for jumbo loans)
- 90% LTV ratio with mortgage insurance
- No closing costs
- Citizens South to waive origination fee, builder to pay all other closing costs including but not limited to commitment fee, appraisal fee, flood, title insurance, attorneys fees, etc
- Citizens South to waive origination fee, builder to pay all other closing costs including but not limited to commitment fee, appraisal fee, flood, title insurance, attorneys fees, etc
- Construction / Permanent loans are included in the CPP Mortgage program
- Only owner-occupied residential properties are eligible for this program
- No second homes or investment properties
- No second homes or investment properties
- This program is available exclusively to the buyers of homes and lots currently financed for participating builder and developer customers of Citizens South Bank
- Limited Time Offer
*Mortgage Loan Program: For a $200,000 30-year term loan example with an initial interest rate of 3.875% for the first 24 months and then adjusting to a rate of 4.875% for the remaining term and no closing cost has an Annual Percentage Rate (APR) of 4.710%. Terms of payment are based on initial principal and interest payments of $940.47 per month for the first 24 months then adjusting to $1,052.11 per month on the 25th month for the remaining term. Loan example assumes a loan to value (LTV) of 80% or less on primary residence valued at $250,000. Loans are subject to credit approval.
Member FDIC
