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Types of Loans

Fixed-Rate and Adjustable Rate Mortgages

FHA Home Loan Mortgages
An FHA refinance mortgage or a new FHA loan allows for the refinance or purchase of a home with a low down payment.  These loans are great for first time home buyers.

  • Backed by the Federal Housing Administration (FHA)
  • Closing costs can be paid by the seller or gifted by family members
  • No income limitations
  • No prepayment penalties if you pay off the loan early

VA Home Loan
As a veteran, you have earned several mortgage and lending benefits in refinancing or purchasing a home and as a first time home buyer.

  •  Financing for qualified veterans, reservist, active duty personnel, or eligible family members
  • No Private Mortgage Insurance (PMI) and flexible credit criteria
  • Closing costs can be paid by seller
  • VA funding fee can be financed into the loan amount
  • Little to no down payment

USDA Rural Housing
USDA stands for United States Department of Agriculture.  USDA rural mortgage loans can offer low closing costs and down payment options.

  • Financing for low to moderate income families
  • Dwelling must be located in a rural or semi-rural area deemed eligible by USDA
  • Household income must be under certain limits established by USDA
  • Closing costs can be paid by seller
  • Low monthly mortgage insurance

Contact any one of our branch locations or call our Mortgage Department (864) 834-9031/ toll free (888) 557-2265 for additional information on our lending products at Bank of Travelers Rest.

Bank of Travelers Rest
P.O. BOX 1067, TRAVELERS REST, SC  29690
Toll Free:  (888) 557-2265
Direct:  (864) 834-9031
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