Synovus Mortgage (NBSC)

Before applying for a Construction-to-Permanent Loan homebuyers are advised to take the following actions:

• Choose a lot and builder
• Negotiate the building specifications
• Finalize the building plans
• Execute a contract to build
• Obtain a detailed cost analysis
• Understand the equity deposit

After approval of the loan, a Synovus Mortgage Corp. representative will meet with the builder and attorney to finalize the necessary documents and settle the terms of the loan.

With a Construction-to-Permanent Loan from Synovus, homebuyers enjoy a variety of benefits, saving them time and money throughout the building process!

Homebuyers will benefit with:

• Lower costs and the tax benefits of carrying the construction loan themselves. (Homebuyers are advised to contact their tax advisor for details)
• Low interest rates during the construction period.
• Special programs that allow them to ock in interest rates while the home is under construction.
• The ability to pay all closing costs at the initial closing, with only prepaid items due once the home is complete.

Loan funds are disbursed in stages during the construction process. After each stage of work an inspection is performed and the next disbursement is authorized. These construction draws are deposited into a special account, which is managed by either the homebuyer or the builder depending on the terms of the contract.

Once the home is complete and the final inspection has been performed, it will be time to convert the construction loan to permanent financing.

Call today to learn more about our Construction-To-Permanent Loan!

South Carolina Bank and Trust

South Carolina Bank and Trust has partnered with Saluda River club to give you the best financing options available! SCBT will tailor a specific Lot Loan program designed to fit your needs.

• Interest only options available
• Up to 90% Loan to Value
• One, Two, and Three Year Balloon Options
• Quick application and closing
• Local processing and underwriting
• Balloon loans can be renewed at the maturity of the loan