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Mortgage lenders in South Carolina
Open the door to home ownership with lower closing costs and a solid APR.
When searching for the right mortgage lender, find out if you qualify for assistance programs — then compare the rates, down payment requirements, closing costs and credit requirements of qualified lenders.
Mortgage lenders in South Carolina
Comparing mortgage lenders can help you save in the long run. You can find more on how to effectively compare them below, but closing costs and APR are two main factors.
Mortgage lenders for veterans in South Carolina
While South Carolina doesn’t offer veterans state assistance for mortgages, look to federal programs for financial help. You could qualify for zero down or get your mortgage without private mortgage insurance (PMI).
How to compare mortgage lenders in South Carolina
Save money over the life of your loan by comparing the APRs and credit requirements across lenders. Also, compare down payment requirements and closing costs, usually a percentage of your loan.
Your closing costs typically include:
- Direct lender fees. Origination fees, document preparation, processing and tax service fees are all included in this category.
- Third-party fees. The appraisal is one of the biggest third-party fees, but potentially one you can negotiate. Attorney fees and postage or courier costs are also part of this fee group.
What to consider when looking for a mortgage in South Carolina
South Carolina doesn’t offer state-funded mortgage support, but you may find federal support. Aside from the federal program for veterans, you can find assistance from the U.S. Department of Housing and Urban Development and U.S. Department of Agriculture and Rural Development.
You can also find private assistance programs. The South Carolina State Housing Finance and Development Authority offers down payment assistance. Review eligibility requirements to avoid spending unnecessary time on applications that won’t move forward.
Closing cost fees in South Carolina
South Carolina has among the lowest closing costs before taxes in the nation, ranking 41. You’ll likely pay between $1,620 and $2,430 before taxes, according to 2019 research by finder.com.
For more in-depth information, including what other fees may be negotiable, check out our guide to South Carolina closing cost fees.
Bottom line
Closing costs can be low and you could negotiate them down further. But, you won’t have as many options for government support in South Carolina as other states. Check to see what federal programs you might qualify for before applying.
Comparing mortgage options and learn more about the process before you move forward.
