10 Best South Carolina Mortgage Lenders of 2021 - NerdWallet Advertiser disclosure
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Looking for a South Carolina mortgage lender? We've researched the state's top lenders, selecting the best for first-time home buyers, online experience and even home equity lines of credit, to help you choose the right mortgage lender today.NerdWallet Jan 22, 2021 Many or all of the products featured here are from our partners who compensate us. This may influence which products we write about and where and how the product appears on a page. However, this does not influence our evaluations. Our opinions are our own. Here is a list of our partners and here's how we make money. Finding the ideal South Carolina mortgage lender can feel like a massive task, but don’t worry — NerdWallet has done the homework for you. We compared leading home loan providers in the Palmetto State and identified the best ones for a variety of borrower needs. Whether you’re looking to buy a condo in Charleston, a cottage in Mount Pleasant or a classic ranch in Greenville, these lenders are a solid place to start your mortgage search. Finding the ideal South Carolina mortgage lender can feel like a massive task, but don’t worry — NerdWallet has done the homework for you. We compared leading home loan providers in the Palmetto State and identified the best ones for a variety of borrower needs. Whether you’re looking to buy a condo in Charleston, a cottage in Mount Pleasant or a classic ranch in Greenville, these lenders are a solid place to start your mortgage search. Best South Carolina Mortgage Lenders
LenderNerdWallet rating NerdWallet's ratings are determined by our editorial team. The scoring formulas take into account multiple data points for each financial product and service.Min. credit score Minimum credit score on top loans; other loan types or factors may selectively influence minimum credit score standardsMin. down paymentLearn more Rocket Mortgage LLC NMLS#3030Learn more at Rocket Mortgage, LLC 4.0/5 Best for online experience620 VA:580JUMBO:N/AFHA:580CONVENTIONAL:6203%Rocket Mortgage offers conventional mortgages with as little as 3% down.Learn more at Rocket Mortgage, LLC loanDepot NMLS#174457Read review 4.0/5 Best for online experience620 JUMBO:N/AVA:620FHA:580CONVENTIONAL:6205%LoanDepot offers conventional loans with as little as 5% down.Read review Bank of America NMLS#399802Read review 4.5/5 Best for HELOCs660 HELOC:660N/ARead review SunTrust Truist NMLS#2915Read review 4.5/5 Best for first-time home buyers620 VA:620USDA:640JUMBO:N/AFHA:620CONVENTIONAL:6203%SunTrust Mortgage offers conventional loans for as little as 3% down.Read review Guild Mortgage NMLS#3274Read review 3.5/5 Best for first-time home buyers620 VA:N/AUSDA:N/AJUMBO:N/AFHA:N/ACONVENTIONAL:6203%Guild Mortgage offers conventional loans with as little as 3% down.Read review Navy Federal NMLS#399807Read review 3.5/5 Best for veterans N/A0% Navy Federal Credit Union offers down payments as low as 0% on loans for military families.Read review USAA NMLS#8722Read review 3.5/5 Best for veterans640 VA:640JUMBO:N/ACONVENTIONAL:6200%USAA offers VA loans with as little as 0% down.Read review Flagstar NMLS#417490Read review 5.0/5 Best for low down payment620 USDA:660VA:660JUMBO:N/AFHA:640CONVENTIONAL:6203%Flagstar offers 3% down payments on conventional loans for first-time home buyers.Read review BB&T (Truist): NMLS#399803Read review 4.5/5 Best for low down payment620 VA:N/AUSDA:640JUMBO:N/ACONVENTIONAL:6203%BB&T Mortgage offers conventional loans for as little as 3% down.Read review TD Bank NMLS#399800Read review 4.5/5 Best for HELOCs620 HEL:620HELOC:620N/ARead reviewLearn more at Rocket Mortgage, LLC Rocket Mortgage LLC NMLS#3030
4.0NerdWallet rating NerdWallet's ratings are determined by our editorial team. The scoring formula takes into account loan types and loan products offered, online conveniences, online mortgage rate information, and the rate spread and origination fee lenders reported in the latest available HMDA data.Min. credit score620 VA:580JUMBO:N/AFHA:580CONVENTIONAL:620 Min. down payment3% Rocket Mortgage offers conventional mortgages with as little as 3% down. View details Learn moreat Rocket Mortgage, LLC View details Why we like it Good for: borrowers who appreciate convenience online and on the go for a fully digital home loan experience with consistently acclaimed customer service. Pros Caters to self-service users who want to apply for a home loan online and talk to a human only as necessary. Estimates the loan amount you’ll qualify for within minutes. Streamlines the online process with document and asset retrieval capabilities, including the ability to edit your preapproval letter. Cons Getting a customized interest rate requires a credit check, which can affect your credit score. Doesn't offer home equity loans or lines of credit. Lender fees are on the high side and the fees aren't offset by particularly low mortgage rates, according to the latest data.Read Full ReviewRead review loanDepot NMLS#174457
4.0NerdWallet rating NerdWallet's ratings are determined by our editorial team. The scoring formula takes into account loan types and loan products offered, online conveniences, online mortgage rate information, and the rate spread and origination fee lenders reported in the latest available HMDA data.Min. credit score620 JUMBO:N/AVA:620FHA:580CONVENTIONAL:620 Min. down payment5% LoanDepot offers conventional loans with as little as 5% down. View details Read reviewView details Why we like it Good for: borrowers who want an easy online application and a variety of loan types to explore. Pros Has branches across the country for customers who prefer face-to-face service. Receives high marks for customer satisfaction, according to J.D. Power and Zillow. Mortgage interest rates tend to be on the lower end, according to the latest federal data. Cons Mortgage rates aren't available online; you'll need to contact a loan officer. Doesn't offer home equity loans or lines of credit.Read Full ReviewRead review Bank of America NMLS#399802
4.5NerdWallet rating NerdWallet's ratings are determined by our editorial team. The scoring formula takes into account loan types and loan products offered, online conveniences, online mortgage rate information, and the rate spread and origination fee lenders reported in the latest available HMDA data.National / regionalNational Max LTV85% Min. credit score660 HELOC:660 View details Read reviewView details Min. credit score 660 Why we like it Good for: first-time home buyers looking for low- or no-down-payment options and homeowners interested in a home equity line of credit. Pros Offers down payment and closing cost assistance programs. May give existing customers a discount on mortgage lender origination fees and HELOC interest rates. Receives high marks for customer satisfaction, according to J.D. Power and Zillow. Cons Doesn't offer renovation loans that roll costs into a mortgage.Read Full ReviewRead review SunTrust Truist NMLS#2915
4.5NerdWallet rating NerdWallet's ratings are determined by our editorial team. The scoring formula takes into account loan types and loan products offered, online conveniences, online mortgage rate information, and the rate spread and origination fee lenders reported in the latest available HMDA data.Min. credit score620 VA:620USDA:640JUMBO:N/AFHA:620CONVENTIONAL:620 Min. down payment3% SunTrust Mortgage offers conventional loans for as little as 3% down. View details Read reviewView details Why we like it Good for: first-time home buyers, doctors and other borrowers interested in low-down-payment mortgage options. Pros Offers a wide variety of loan options, including special programs for doctors. Offers a complete suite of online mortgage application tools and loan tracking. Sample rates and fees are easy to find on the website. Cons Customized rates aren't available online without starting an application. Branches are limited mostly to the Southeast.Read Full ReviewRead review Guild Mortgage NMLS#3274
3.5NerdWallet rating NerdWallet's ratings are determined by our editorial team. The scoring formula takes into account loan types and loan products offered, online conveniences, online mortgage rate information, and the rate spread and origination fee lenders reported in the latest available HMDA data.Min. credit score620 VA:N/AUSDA:N/AJUMBO:N/AFHA:N/ACONVENTIONAL:620 Min. down payment3% Guild Mortgage offers conventional loans with as little as 3% down. View details Read reviewView details Why we like it Good for: borrowers who value customer service, and first-time home buyers and others who may need the flexibility of a low-down-payment loan program. Pros Offers a wide variety of loan products, including home improvement loans and mortgages for manufactured homes. Has retail branches in most states. Receives high marks for customer satisfaction, according to J.D. Power and Zillow. Cons Does not offer home equity loan products. Origination fees tend to be higher, according to the latest federal data.Read Full ReviewRead review Navy Federal NMLS#399807
3.5NerdWallet rating NerdWallet's ratings are determined by our editorial team. The scoring formula takes into account loan types and loan products offered, online conveniences, online mortgage rate information, and the rate spread and origination fee lenders reported in the latest available HMDA data.National / regionalNational Min. down payment0% Navy Federal Credit Union offers down payments as low as 0% on loans for military families. View details Read reviewView details Why we like it Good for: military members and their families looking for low-down-payment mortgages. Pros Offers a wide range of affordable mortgage products, including 0% down payment loans, designed for military members. Offers HELOCs and home equity loans. Offers low rates compared with most lenders, according to the latest federal data. Cons Website does not provide customized mortgage rates based on credit score or other factors before you apply. Credit union membership is limited to veterans and current military members, their families, and certain federal employees, retirees and contractors.Read Full ReviewRead review USAA NMLS#8722
3.5NerdWallet rating NerdWallet's ratings are determined by our editorial team. The scoring formula takes into account loan types and loan products offered, online conveniences, online mortgage rate information, and the rate spread and origination fee lenders reported in the latest available HMDA data.Min. credit score640 VA:640JUMBO:N/ACONVENTIONAL:620 Min. down payment0% USAA offers VA loans with as little as 0% down. View details Read reviewView details Why we like it USAA specializes in VA loans and offers a variety of online conveniences, but its website doesn’t offer customized rate quotes. Pros VA loans are the bulk of USAA’s business, so it knows the ins and outs of eligibility. Lots of experience assisting first-time home buyers. You can submit loan documents online. Cons Doesn’t offer FHA or USDA loans, or second mortgages. Limited mortgage rate information is on the USAA website, none of it customized. You'll have to call.Read Full ReviewRead review Flagstar NMLS#417490
5.0NerdWallet rating NerdWallet's ratings are determined by our editorial team. The scoring formula takes into account loan types and loan products offered, online conveniences, online mortgage rate information, and the rate spread and origination fee lenders reported in the latest available HMDA data.Min. credit score620 USDA:660VA:660JUMBO:N/AFHA:640CONVENTIONAL:620 Min. down payment3% Flagstar offers 3% down payments on conventional loans for first-time home buyers. View details Read reviewView details Why we like it Good for: borrowers who want a wide range of choices — not only among mortgage products, but also in the channel they prefer, whether a branch, online or on the phone. Pros Offers a wide range of loan types and products, including FHA, VA and USDA. Has a full suite of online conveniences. Offers customized online rate quotes with monthly payment estimates, including mortgage insurance, when applicable. Cons Home equity loans are geographically limited.Read Full ReviewRead review BB& T Truist NMLS#399803
4.5NerdWallet rating NerdWallet's ratings are determined by our editorial team. The scoring formula takes into account loan types and loan products offered, online conveniences, online mortgage rate information, and the rate spread and origination fee lenders reported in the latest available HMDA data.Min. credit score620 VA:N/AUSDA:640JUMBO:N/ACONVENTIONAL:620 Min. down payment3% BB&T Mortgage offers conventional loans for as little as 3% down. View details Read reviewView details Why we like it Good for: borrowers in the Southeast who want the option of face-to-face service. BB&T is now part of Truist Financial Corp., which offers a full menu of home loans. Pros Offers a variety of home loans, including construction-to-permanent loans, physicians loans and jumbo loans. Has a robust online mortgage application. Cons Branches limited to mostly the Southeast region. Custom rates are only available if you speak with a representative.Read Full ReviewRead review TD Bank NMLS#399800
4.5NerdWallet rating NerdWallet's ratings are determined by our editorial team. The scoring formula takes into account loan types and loan products offered, online conveniences, online mortgage rate information, and the rate spread and origination fee lenders reported in the latest available HMDA data.National / regionalRegional Max LTVN/A Min. credit score620 HEL:620HELOC:620 View details Read reviewView details Min. credit score 620 Why we like it TD Bank Mortgage gets high marks for its variety of loan products and mortgage types, and excels at online convenience, including providing customized mortgage rates on its site. Pros Allows 3% down payment without borrower-paid mortgage insurance. Offers specialty loans like construction-to-permanent mortgages and medical professional mortgages. Among the best when it comes to online convenience, including loan process updates. Cons Available only in states on the East Coast. The only way to see mortgage rates is through a customizing form.Read Full ReviewMore from NerdWallet Calculate your South Carolina mortgage payment Compare South Carolina mortgage rates How much home can you afford? Last updated on January 22, 2021 Methodology
NerdWallet's star ratings for mortgage lenders are awarded based on our evaluation of the products and services each lender offers to consumers who are actively shopping for the best mortgage. The five key areas we evaluated include the variety of loan types and products offered, online conveniences, online mortgage rate information, and the rate spread and origination fee lenders reported in the latest available Home Mortgage Disclosure Act data. To ensure consistency, our ratings are reviewed by multiple people on the NerdWallet Mortgages team. To recap our selections... NerdWallet' s Best South Carolina Mortgage Lenders of 2021
Rocket Mortgage, LLC: Best for online experienceloanDepot: Best for online experienceBank of America: Best for HELOCsSunTrust (Truist): Best for first-time home buyersGuild Mortgage: Best for first-time home buyersNavy Federal: Best for veteransUSAA: Best for veteransFlagstar: Best for low down paymentBB&T (Truist): Best for low down paymentTD Bank: Best for HELOCs About the author
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