We recently found a source for home-site(lot) financing on Hilton Head Island.  For a limited time because the Island has a limited resource of land, lots offer some very compelling pricing and incredible locations on Hilton Head Island right now.  Listed below are the basics from Alan Perry from Synovous Mortage.

• Purpose- primary or second home proposed use- no spec or investor
• 75% Loan to value
• 1% origination fee
• 15 year amortization with a 5 year call
• Credit risk scoring model for rates (currently we are seeing them around 5%
• They do require a banking relationship be established if there is not one already.

The application process is pretty simple. A buyer will be required to out a personal financial statement, a preference letter, provide 2 years tax returns and asset statements.  Contact Alan below for more information: