Residential Loans
For most of us, owning our own home will be the biggest investment of our lives. Atlantic Bank's Residential Loans were designed with you in mind. Our competitive interest rates, low processing fees and flexible repayment schedules make attaining your goal just a little easier. Get started today with an Atlantic Bank Residential Loan; we know how to get you there!
Recommended for:
- Construction of a New Home
- Purchasing Home and Land
- Purchasing Land
- Home Improvements/ Renovations
Product Features and Benefits:
- Competitive Interest Rates
- Flexible Repayment Period
- Low Equity Contribution
- Loan Insurance
Requirements for Services:
- Be between the ages of 18 and 65
- Be gainfully employed for 12 months or show evidence of self employment
- Earn a minimum of $1,500.00 monthly
- Repayment Capacity of 30% of gross salary
- 10% Equity Contribution
- May apply for joint loan and combine salaries to meet established criteria
Required Documents:
Basic Documents:
- Valid ID: Social Security Card or Passport
- Valid ID: Social Security Card or Passport
- Letter of Employment – stating years of service and annual income. If self employed, evidence to support income including financial statements for the last year
- Recent Utility Bill
Purchasing Home and Land:
- Current updated valuation from a certified evaluator
Construction of a New Home:
- Approved Building Plans
- Property Appraisal Report
- Land Documents
- Bill of Quantity/ Cost Estimate for new construction or expansion
- Land Tax Statement (denoting updated status)
Home Improvements/ Renovations:
- Property Appraisal Report
- Land Documents
- Bill of Quantity/ Cost Estimate for new construction or expansion
- Land Tax Statement (denoting updated status)
Opening of Account/Service:
To apply, call your nearest Atlantic Bank branch to make an appointment. For a complete list of locations and phone numbers, visit our Locations page.
Value Added Products:
- Free Personal Online Banking
- Free Debit Card