See Mortgage Rate Quotes for Your Home
By clicking "See Rates", you'll be directed to our ultimate parent company, LendingTree. Based on your creditworthiness, you may be matched with up to five different lenders.
|Recommended For||Click for Review||Min. Credit Score||Highlights|
|First-Time Homebuyers||First Citizens Bank||620|
|Online Loans||Guaranteed Rate||620|
|VA Loans||Navy Federal Credit Union||620|
|Poor Credit||Movement Mortgage||580|
Finding the best mortgage lender in South Carolina depends on finding the right combination of affordable interest rates, on-time loan processing and reliable customer service. Read about our top picks in the Palmetto State below.
Best Mortgage Lender for First-Time Home Buyers: First Citizens Bank
First Citizens Bank is our top pick for first-time homebuyers, thanks to its hyperlocal focus and its status as a South Carolina State Housing Finance & Development Authority (SC Housing) lending partner.
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First-time homebuyers are often uncomfortable with the idea of shopping for a mortgage loan and prefer guidance from an experienced lender. First Citizens Bank has 138 locations throughout the state, making it easy to talk face to face with a loan officer, regardless of whether you live in Greenville or Myrtle Beach. Its rates are competitive and on par with major competitors: BB&T and Wells Fargo.
Where First Citizens really shines is its fees, which can make up around 0.11% of your total loan amount at closing, while other lenders in the area typically charge in the neighborhood of 0.2%. As an SC Housing-approved lender, First Citizens is also authorized to offer tax credits and down payment assistance for qualifying first-time homebuyers. If First Citizens isn't the right lender for you, take a look at other recommendations for first-time homebuyers.
Best Mortgage Lender for Refinancing: Quicken Loans
Quicken Loans is our No. 1 choice for homeowners looking to refinance in South Carolina, thanks to the alacrity of its Quicken Rocket Mortgage program and its competitive refinancing rates.
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Homeowners willing to shop mortgage loans online are in good hands with Quicken Loans, as Quicken obtained J.D. Power's highest customer satisfaction rating for eight consecutive years in a row. It’s also one of the three most popular mortgage companies in America.
Quicken offers some of the lowest rates around on its refinance mortgages. You can structure your new loan into any term you want between two and 28 years, which represents exceptional flexibility for a mortgage lender. However, the rates and fees on its purchase mortgages are higher than average, making it less than ideal for anyone trying to buy a new home. If Quicken isn't the right lender for you, compare refinance rates at other lenders using our loan comparison tool.
Best Online Mortgage Lender: Guaranteed Rate
Guaranteed Rate is our No. 1 contender among online lenders with low rates and high customer service ratings.
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Tech-savvy homebuyers know that they can apply, prequalify and close on a mortgage, all from the comfort of their own living rooms. However, even though it's technically an online lender, Guaranteed Rate maintains five physical branch locations throughout South Carolina, in Columbia, Myrtle Beach, Charleston, Florence and Simpsonville. The lender offers some of the best rates around for well-qualified homebuyers.
Guaranteed Rate's online tools let you tailor your loan selection to optimize for the cheapest rate or lowest monthly payment, depending on your preference. With the exception of home equity loans, it offers almost every mortgage type on the market. Nevertheless you'll need a decent credit profile if you want to qualify for Guaranteed Rate's most lucrative offerings. If an online lender isn't your cup of tea, consider taking a look at our other lender recommendations.
Best Mortgage Lender for VA Loans: Navy Federal Credit Union
Navy Federal Credit Union landed the No. 1 spot among specialty VA lenders in South Carolina. Thanks to its status as a credit union, it offers lower VA rates than the big banks and received exceptional customer service ratings from J.D. Power.
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Veterans and service members alike have access to the lucrative no-money down VA loan, which lets military personnel achieve their dream of homeownership, while keeping more money in their wallets. Navy Federal takes this offer one step further, requiring no mortgage insurance payments on its VA loans, while allowing up to a 4% seller contribution toward your closing costs.
If you're looking for a VA specialist in South Carolina, look no further than Navy Federal, as the credit union originated over 3,800 VA loans in South Carolina over the past five years. It's the fifth-largest VA lender in the state but has the second-highest customer service rating from J.D. Power of any company focused on lending to veterans. If you're shopping for a VA loan, take a look at where current VA mortgage rates are, so you know what to expect when comparing quotes from different lenders.
Best Mortgage Lender for Poor Credit: Movement Mortgage
Movement Mortgage offers some of the best options for low-to-moderate income homebuyers in South Carolina, thanks to its wide selection of low-down-payment mortgage loans.
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Movement Mortgage offers home loans specifically designed to help low-to-moderate income homeowners achieve homeownership, including loans FHA, USDA, VA, Fannie Mae HomeReady and Freddie Mac Home Possible loans. These programs are backed by government agencies and feature lower credit thresholds for qualifying homebuyers. The lender also employs at least 16 loan officers across the state, which is helpful if you're looking for an in-person consultation.
Movement Mortgage is an approved SC Housing Lender, which means that the lender can apply for down payment assistance and tax credits on your behalf if you're a qualifying homebuyer. This includes up to $15,000 in assistance for meeting closing costs, which can be forgiven within 10 years. If you're interested in an FHA loan or other low-down payment program from Movement Mortgage, take a look at current FHA rates to get a quick estimate of what your mortgage rate might look like.
Most Popular Home Loan Companies in South Carolina
If you're shopping for a mortgage in South Carolina, it's worth reviewing quotes from the top lenders to see where average rates stand. Here are the five most popular mortgage companies in South Carolina, based on the total number of residential mortgages originated over the past five years.
Top 5 Biggest South Carolina Residential Mortgage Lenders, 2013–2019
|Rank||Company||Mortgage originations||Average mortgage amount|
|4||Bank of America||29,457||$188,416|
|5||First Citizens Bank||28,859||$141,145|
When comparing lenders, it's a good idea to consider each company's record for customer service in addition to their interest rates. Make sure you also factor in any elements that matter to you, which may not have been covered in our reviews.
How We Chose the Best Mortgage Lenders in South Carolina
While interest rates played a large role in our decision, we also reviewed each lender's unique terms and conditions. When comparing interest charges, fees and closing costs, lenders who offered the same interest rate ended up thousands of dollars apart in fees. Therefore, we chose to compare the following criteria:
- Total cost: interest rates and closing costs
- Product: terms, programs and specialty
- Servicing: transparency, complaint data and branch network
We chose to highlight any terms a lender offered that weren't common in the industry. For example, while every mortgage lender in the country offers conventional fixed-rate mortgages, fewer companies specialize in niche programs like USDA or state bond financing. We chose to highlight these traits where appropriate.
We also reviewed customer complaints from the Consumer Financial Protection Bureau to forecast the likelihood of issues arising during the origination and servicing process. We assessed the size of each lender's branch network as well as the usability of its online platform to measure each lender's accessibility and reputation for customer service.
Mortgage Brokers Near Me in South Carolina
Mortgage brokers compare offers from multiple lenders on your behalf and are an excellent resource for first-time homebuyers and anyone uncomfortable with the mortgage shopping process. They differ from loan officers in that they're able to offer loans from multiple competing lenders rather than a single company. Use the table below to find a licensed mortgage broker near you.
|First Nations Home Mortgage Inc||136 Kimberly Dr, Travelers Rest, SC 29690||(864) 905-2606|
|Mortgage Options||3122, 6140 St Andrews Rd, Columbia, SC 29212||(803) 732-5787|
|Anchor Mortgage, LLC||895 Island Park Dr suite 204, Daniel Island, SC 29492||(843) 225-7334|
|Classic Home Mortgage||330 Harrison Bridge Rd # C, Simpsonville, SC 29680||(864) 962-9121|
|Oasis Home Mortgage||3405 Salterbeck St #102, Mt Pleasant, SC 29466||(843) 300-7558|
|Homefront Mortgages, Inc.||140 W Richardson Ave suite b, Summerville, SC 29483||(843) 810-4564|
|New South Mortgage Corporation||130 River Landing Drive, Suite 1-D, Daniel Island, SC 29492||(843) 412-3949|
|Palmetto First Mortgage||4757 US Highway 17 Bypass South, Myrtle Beach, SC 29577||(843) 294-1600|
|The Mortgage Company||225 Seven Farms Drive #201, Daniel Island, SC 29492||(843) 471-1740|
|Market Point Mortgage, LLC||33 Market Point Dr. Suite 2004, Greenville, SC 29607||(864) 527-0444|