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BankSouth offers immediate and easy access to your mobile and online banking. You can also apply for and review your ReadyLoan mortgage application.

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For over ten years, BankSouth has helped thousands of families finance their homes.  We know how daunting this may be, but we take the worry and hassle out of the process.

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Construction & Renovation Loans

Sometimes the home of your dreams just isn’t available. With a renovation or new construction loan from BankSouth Mortgage, you can afford to turn a fixer-upper into your dream home or build it entirely from scratch. These loans are available as a stand-alone option or, in some cases, in conjunction with a new home purchase or refinance. BankSouth Mortgage offers a variety of programs to meet your needs. Check our products below, or contact a BankSouth Mortgage expert for more details.

Construction Loan Highlights

  • Down payments as low as 10%
  • Purchase and Renovation Loans
  • Conforming and Jumbo options
  • Primary or second homes
  • In-House Underwriting- Local Decision Making
  • Interest Only Payments During Construction
  • Lot Cost Can Be Included in the Construction Loan
  • Available for Properties Throughout Georgia

Escrow Holdback Program Highlights

BankSouth Mortgage offers you the flexibility to combine your home financing with renovation costs!

Conventional, FHA, VA, and USDA:

  • Maximum holdback of 10%, not to exceed $15,000
  • Purchase transactions
  • Non-structural repairs
  • Repairs must be completed within 10 days of closing


  • Maximum holdback of 10% of the appraised value, not to exceed $100,000
  • Purchase Transactions
  • Repairs must be completed within 30 days of closing
  • Non-structural repairs only

Sample Eligible Repairs/Improvements:

  • HVAC
  • Refinishing hardwood ­floors
  • Painting
  • Landscaping
  • Swimming pool repairs
  • Waterproofing
  • Fencing

FHA 203(K) Renovation Highlights

  • Through a single FHA mortgage, combine the financing of your home with the cost of non-structural renovations
  • Purchases and refinances
  • 3.5% down payment
  • 640 minimum credit scores
  • Non-structural repairs and alterations, improvements/modernizations, elimination of health/safety hazards, changes for aesthetic appeal, interior and exterior painting, installation of well and/or septic, reconditioning or replacement of heating/air conditioning, and replacement of roofing, guttering, and downspouts (no footings, foundations or load-bearing walls)
  • Potential to build equity immediately once renovations are complete

Credit and collateral are subject to approval. Terms and conditions apply. Rates, program terms and conditions are subject to change without notice. Some programs have geographic restrictions. This is not a commitment to lend.

Bank differently. BankSouth.

We’re a bank for your community. We’re digital-forward and people first. We’re built to help you build your dreams. Let’s build together.

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