Home Loans

Home loans designed to make your dreams affordable!

You've found the perfect place. For your lifestyle, for your family, for your future. Now you need the financing to make it all happen. That's where we come in. At Anderson Brothers Bank, we offer a variety of mortgage options, all designed to make your dreams a little more affordable. Our friendly lending team can explain all the details, answer any questions, and guide you to a loan that's as sweet as your new home.

Fixed-Rate Mortgages

Competitive rates
Stable monthly payments over the life of the loan, making long-term budgeting easier
Refinancing options available

Adjustable-Rate Mortgages

Lower initial rate for set number of years
After initial period ends, rate are adjusted periodically
Loan caps limit size of rate increases
Good choice if you expect your finances to improve or you plan to move again in a few years

FHA Home Loans

Down payments as low as 3.5%
Qualify with less-than-perfect credit
Family members can help with down payment
Fixed-rate and adjustable-rate options
Good choice for many first-time homebuyers

VA Home Loans

Active duty military, veterans and reservists are all eligible
Down payments as low as 0%
Low interest rates and closing costs
No private mortgage insurance required
Fixed-rate and adjustable-rate loans available

USDA Home Loans

Available to borrowers who want to live in rural areas and certain suburbs
Down payments as low as 0%
Qualify with less-than-perfect credit
Fixed-rate options
Low fees take the place of private mortgage insurance

Your Home Loan Tool Kit

Our Mortgage Team will make applying for a home loan as easy as possible. If you want to get a head start, here are the documents that will be required at some point during the process.

Copy of your purchase contract
Your two most recent pay stubs with year-to-date earnings. If you have had more than one job this year, provide your final pay stub from your previous employer.
The two most recent years' W2s
Your two most recent bank statements. If the cash to close your loan comes from another source, provide documentation
Your residence history for the last two years (name and address of the landlord/mortgage holder)
Current homeowners' insurance provider and payment amount (if applicable)
Current property taxes (if applicable)
Loan and/or credit card information, including name, address, and account number of creditor
Letter from any relatives providing you with monetary gifts
Signed relocation agreement if your employer is paying for your move
Divorce decree/stipulation if alimony, child support or property settlement is involved (Note: alimony, child support, or separate maintenance income need not be revealed if you choose not to have it considered for paying the loan)
School transcripts if you've attended classes during the past two years
Letter of explanation for adverse credit or an employment gap

Anderson Brothers Bank is a full-service community bank with branches throughout the Pee Dee, Coastal and Low Country regions of South Carolina.

MEET THE 'HOME TEAM'

It's an exciting time for you. But the finances can be confusing. Relax, our experienced Mortgage Team prides itself on offering friendly personal service. They're happy to explain the benefits of each loan type and assist you through the entire application process. Here's how you contact them:

Tim McCoy

VP Mortgage Banking

Myrtle Beach, SC

843-685-7772 (cell)

NMLS # 459361