Home Financing Solutions

Whether you’re buying your first home, making an upgrade, or looking to refinance, Sandy Spring Bank has many solutions to help you accomplish your homeownership goals. We’ll guide you every step of the way to make sure that putting down your roots is easy and stress free. Talk to one of our Mortgage Bankers today about the loan program that is best for you.

First-Time Home Buyer

If you are looking for a lower down payment, an easier way to qualify, and for lower rates, Sandy Spring Bank’s First-Time Home Buyer Program might be your best option. As a local lender and community bank with remarkable service, we have a mix of local and national resources to help you achieve your homeownership dream. It provides affordable and flexible options to meet your needs, with:

  • Up to 95% Loan to Value (LTV)
  • Down payment as low as 5%
  • No mortgage insurance requirement
  • No points

Jumbo Mortgage – 85% Jumbo Financing

Sandy Spring is proud to offer our flexible jumbo program to help the clients, realtors and building partners in our community. For well qualified buyers, with exceptional credit and financial reserves, the program highlights include:

  • Up to 85% loan to value*
  • Loan amount up to $1,500,000
  • Purchase money and rate/term refinances
  • Minimum credit score of 740
  • Available for 1 unit/condo/PUD
  • Fixed rate options available
  • Other program restrictions may apply

*The loan to value is a ratio resulting from the loan amount compared to the property value. For example, the loan to value would be 85% if a consumer obtained a $425,000 mortgage for a property they purchased which had a value of $500,000. Adequate property insurance required. Loan program and details may change. Please consult a Sandy Spring Bank mortgage banker for specific loan program details. All loan programs are subject to credit approval.

90% Financing Loans

90% Financing – Single Loan

In our community, there’s a huge supply of homes for sale at more affordable prices. Whether you are an individual, realtor or building partner, Sandy Spring Bank wants to help you with our flexible 90% financing loan program.

For well qualified buyers, 90% financing is available for both PURCHASE and CONSTRUCTION financing in a single loan.

Program highlights include:

  • Up to 90% loan to value
  • No private mortgage insurance required
  • One loan for reduced paperwork and transactional costs
  • Maximum loan amount of $1,350,000
  • Other program restrictions may apply*

*Adequate property insurance required. Loan program and details may change. Please consult a Sandy Spring Bank mortgage banker for specific loan program and details.

90% Financing — 80-10-10

For homebuyers seeking to avoid mortgage insurance and jumbo loan terms, the 80-10-10 may be a great solution. Sandy Spring Bank is proud to offer our flexible 80-10-10 loan program.

For well-qualified buyers, the 80-10-10 is available for both PURCHASE and CONSTRUCTION financing.

Program highlights include:

  • Up to 90% combined loan to value
  • No private mortgage insurance required
  • Second trust rate 1.00% over first trust rate
  • Second trust interest rate fixed for life of loan
  • Maximum combined loan amount of $1,350,000
  • Other program restrictions may apply*

*Adequate property insurance required. Loan program and details may change. Please consult a Sandy Spring Bank mortgage banker for specific loan program and details.

Civil Service Home Purchase Program

Our community and the people who choose to dedicate their lives to it are very important to Sandy Spring Bank. The Civil Service Loan program helps provide affordable financing for home purchases to civil servants, such as local and federal law enforcement officers, fire fighters, EMTs, paramedics, public and private school (K-12) employees, and active duty, reserve or retired military service members. Through this program, you’ll get:

  • Up to 95% loan to value
  • Zero Points
  • No private mortgage insurance
  • Convenient auto payment from a Sandy Spring Bank account*

*Auto payment from a Sandy Spring Bank deposit account required. Terms subject to change without notice. Other program restrictions may apply.

VA Loans

We are honored to serve those who have served our country. Veterans, reservists, active-duty personnel, and surviving spouses of veterans are eligible. With Sandy Spring Bank’s VA Loan Program, we help service members and veterans make purchasing a home a reality. It includes:

  • No down payment*
  • Lower monthly payments
  • No cash reserves
  • No application fee
  • No monthly mortgage insurance premiums
  • VA funding fee may be financed, unless exempt
  • Seller can pay certain closing costs — decreasing the closing costs of the borrower

*Up to 100% financing (based on VA lending limits) may be available for purchase loans.

Home Loan Refinancing

Ready to refinance your primary residence? With the Welcome Home Loan Program*, you can afford to. Our bankers can help you decide if this program is right for you. It’s available to those who have income below a certain cap or within select areas within our community.

  • Fixed and adjustable rates available
  • Loans up to $625,500 in select communities
  • Up to 100% of appraised value, no cash out
  • Zero points
  • No private mortgage insurance
  • A second lien to assist with closing costs, ranging from $1,500 to $3,000 based on borrower income and the community in which the home is located
  • Convenient auto payment from a Sandy Spring Bank account is available**

*Loan program, details and offer subject to change and cancellation without notice.

**Auto payment from a Sandy Spring Bank deposit account is available. Other program restrictions may apply.

Welcome Home Loan Program

Need affordable financing to buy your next home? The Welcome Home Loan Program* offers many benefits. Our bankers can help you decide if this program is right for you. It’s available to those who have income below a certain cap or within select areas within our community. Program highlights include:

  • Fixed and adjustable rate options available
  • Up to 97% loan to value
  • Zero points
  • No private mortgage insurance
  • A second lien to assist with closing costs, ranging from $1,500 to $3,000 based on borrower income and the community in which the home is located**
  • Convenient auto payment from a Sandy Spring Bank account is available***

*Loan program, details and offer subject to change and cancellation without notice.

**Must notify mortgage banker of offer at time of application. Not valid for commercial loan applications. Owner occupied properties only. Offer available for new applications only. Please consult a Sandy Spring Bank mortgage banker for specific loan program and details.

***Auto payment from a Sandy Spring Bank deposit account is available. Other program restrictions may apply.

Closing the Gap Loan

Every little bit helps. The Sandy Spring Bank Closing the Gap Loan helps to make home ownership more attainable for you. Eligibility for the Closing the Gap Loan is contingent upon the following two factors:

  • A loan amount of $1,500 is available should the applicant earn less than 80% of the Area Median Income (AMI).
  • A loan amount of $1,500 is also available if the property is located in a low- or moderate-income census tract within Sandy Spring Bank assessment area.

These two factors may be combined permitting a total amount of $3,000.

The Closing the Gap Loan is for 30 years at 0% Interest Rate with No Monthly Payments required. These funds can be used for Down Payment and/or Closing Cost Assistance. Repayment is due when the property is sold or refinanced. This program cannot be combined with any other Sandy Spring Bank Closing Cost Assistance program.

Interested in a Sandy Spring Mortgage or have more questions?

Apply Online Now!

Our Fair Lending Policy Statement is available to view online.

This advertisement is being provided for informational purposes only and is not to be construed as a loan commitment of any kind. Actual loan qualifying is subject to verification and approval of income, credit, property appraisal, and other factors. Rates, Fees, and Programs are subject to change at any time without prior notice. A detailed Loan Estimate will be prepared upon receipt of your application for a loan.