Mortgage Loan Programs

The same lending solution does not apply to every individual client.

Our expertise and extensive financial network allows us to offer a wide variety of loan programs to meet our clients individual financing needs. 

Conventional Loans

A Conventional loan is one that is not insured by the federal government (for example FHA and VA loans) and may offer terms and conditions that are more attractive for your individual situation. Conventional loans may be either fixed or adjustable rate, conforming or non-conforming.

  • Conforming: Conforming loans are those loans which meet the loan amount limits set by the Federal Housing Finance Agency (FHFA) and are eligible for sale to Fannie Mae and Freddie Mac.  Sandy Spring Bank maintains a direct relationship with both Fannie Mae and Freddie Mac which allows us to offer our clients the broadest array of programs available under this category.
  • Non-Conforming Loan: Non-conforming loans are those which do not meet the underwriting requirements of Fannie Mae and Freddie Mac or are larger than the conforming loan limits (Jumbo Loans) set forth by the Federal Housing Finance Agency (FHFA).  Sandy Spring Bank, through our national secondary market relationships, maintains a highly competitive set of Jumbo loan programs for our clients.

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Construction Loans

Sandy Spring Bank has a long history of construction lending.  Whether you are building a new home or renovating your existing property we have the solution for you.  Choosing Sandy Spring Bank as your financial partner will help you to have a successful project. We offer a One-Time Close solution which allows you to lock in the terms of your permanent financing upfront, so you don’t have to worry about rising interest rates while your project is under construction.  Our programs support:

  • New construction lending
  • Home renovation loans
  • FHA 203k home rehab loans

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FHA Loans

An Federal Housing Administration (FHA) loan is a mortgage that’s insured by the Federal Housing Administration. The FHA program was started in the 1930s as a response to the Great Depression and remains an attractive loan option for many borrowers today.

Some benefits of FHA loans are:

  • Down payment as little as 3.5%
  • Streamlined refinance options available
  • Lower credit score thresholds

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VA Loans

A Veteran's Administration (VA) loan is one that is guaranteed by the United States Department of Veterans Affairs. The VA loan program is designed to provide veterans with attractive and affordable home financing options. Some benefits of VA loans are:

  • Up to 100% Financing available    
  • Available for both Purchase and  Refinance
  • Available on Jumbo loan balances

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Portfolio Loans

Sandy Spring Bank also offers a wide array of portfolio programs designed to meet the needs of and support the local housing marketing. We offer a number of unique financing options including:

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Affordable Housing Programs

Sandy Spring Bank is committed to promoting affordable housing in the communities we serve.  Through our in house portfolio products and partnerships with local community development agencies we have developed a suite of programs aimed at assisting those in need achieve their dream of homeownership.  Some of our programs include:

  • Welcome Home Program
  • Closing the Gap Down Payment Assistance Program 
  • First Time Homebuyer Program
  • Civil Service Program
  • VHDA (Virginia Housing Development Authority) loans
  • USDA (U.S. Department of Agriculture) loans
  • FHLB (Federal Home Loan Bank) Grants
  • Maryland CDA loans
  • DC Open Doors loans

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