Home Financing with a Personal Touch
When you're ready to build, buy, or refinance a home, Roxboro Savings Bank is here to make the process smooth and personal. In most cases, you’ll meet with a loan officer right away — and chances are, that same person will be the one who approves your loan. That’s because all of our lending decisions are made locally, right here in Roxboro.
We’re committed to being part of your homeownership journey from start to finish. From the moment you apply to the day your mortgage is paid off, we’ll be here servicing your loan and answering your questions every step of the way.
Want to explore your options? Use our helpful calculators to estimate what kind of mortgage payment might fit your budget, and check out today’s rates to get started. Have questions? Reach out to a member of our team today and we'll be happy to help!
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Your Mortgage Loan Options
| Feature | Fixed Rate Mortgages | Adjustable Rate Mortgages | Construction to Permanent Mortgages |
|---|---|---|---|
| Loan-to-Value Ratio | Up to 97% for qualified buyers* | Not specified | Not specified |
| Loan Term Options | Up to 30 years | 30 years | Construction period for up to 12 months. Permanent mortgage for 30 years |
| Interest Rate Type | Fixed | Initial period fixed for 3, 5, or 7 years, Adjustable after initial period | Same rate maintained for construction (12 months) and permanent phases for up to 7 years |
| Rate Adjustment | N/A | Annually after initial period | Annually after initial period |
| Rate Caps | N/A | Annual and lifetime caps | Annual and lifetime caps |
| Rate Index & Margin | N/A | 1-Year Treasury + 2.75% margin | 1-Year Treasury + 2.75% margin |
| Origination Fee | 1.00% | 1.00% | 1.00% |
| Closing Costs | Standard out-of-pocket costs; FNMA fees may apply | Standard out-of-pocket costs | Single closing; standard out-of-pocket costs |
| Payment Methods | In person, by mail, on our website, or auto-deduction from RSB account** | In person, by mail, on our website, or auto-deduction from RSB account** | In person, by mail, on our website, or auto-deduction from RSB account** |
| Special Features | No discount points or unnecessary fees | Initial rates subject to change; no unnecessary fees | Acts like line of credit during construction; flexible draws; internal inspections; interest-only phase |
*Certain requirements apply, like Private Mortgage Insurance (PMI).
**Automatic deductions can also be made from accounts at other financial institutions.
Manufactured Housing Financing
Roxboro Savings Bank is proud to be one of the only banks in our area to offer manufactured housing financing mortgages, making purchasing or refinancing a manufactured home easy! Our mortgage options for manufactured housing feature fixed and adjustable rate mortgages with great interest rates, and you can use land you already own as part of your equity! Call our team today for more information, or come visit us at one of our locations.