Good news, we found lot financing on Hilton Head Island!


If you have been considering buying a great home site in the Hilton Head Area but wanted to finance the purchase, we  found a source for lot loans!  This financing is available for qualified buyers that want to build in the future as a second home or primary residence(no investment properties).

Following are criteria for these lot loans:

  1. 25% down on the purchase price with a 1% origination charge
  2. They have 1, 2 and 3 year balloon loans that are amortized on 15 years with rates from 6.25% to 6.875%  depending on the term these rate may be adjusted down with a deposit relationship.  (Rate may be reduced one basis point per $1,000 in deposits, up to ten (10) basis points
  3. Borrowers need to have a 720 middle credit score
  4. Borrowers debt to income may not exceed 38% back ratio
  5. A banking deposit relationship is required
  6. An acceptable apprasial is required.
  7. A loan application is required

Please contact Mike at the email address below or call him on one of the phone numbers for more information:

Mike Platt, Mortgage Loan Officer
South Carolina Bank and Trust
Hilton Head Island, SC 29928
843-342-1958 office
843-842-5872 fax
843-812-8428 cell