Best of

8 Best SC Housing Mortgage Lenders of 2020

NerdWalletJanuary 2, 2020

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SC Housing offers affordable loans and home buyer assistance programs to South Carolina residents. Here are our picks for SC Housing-approved lenders that are also highly rated.

Summary of Best SC Housing Mortgage Lenders of 2020

LenderBest ForNational/RegionalMinimum Down PaymentLearn More
Fairway Independent Mortgage

Fairway Independent Mortgage

at Fairway

online convenience

National

3%

at Fairway

Guaranteed Rate

Guaranteed Rate

online convenience

National

3%

Read review
Guild Mortgage

Guild Mortgage

first-time home buyers

Regional

3%

Read review
Caliber

Caliber

first-time home buyers

National

3%

Read review
New American Funding

New American Funding

at New American

nontraditional credit borrowers

National

3%

at New American

BB&T

BB&T

nontraditional credit borrowers

Regional

3%

Read review
loanDepot

loanDepot

at loanDepot

government loans

National

3.5%

at loanDepot

PrimeLending

PrimeLending

government loans

National

3%

Read review
LenderBest ForNational/RegionalMinimum Down PaymentLearn More
Fairway Independent Mortgage

Fairway Independent Mortgage

at Fairway

online convenience

National

3%

at Fairway

Guaranteed Rate

Guaranteed Rate

online convenience

National

3%

Read review
Guild Mortgage

Guild Mortgage

first-time home buyers

Regional

3%

Read review
Caliber

Caliber

first-time home buyers

National

3%

Read review
New American Funding

New American Funding

at New American

nontraditional credit borrowers

National

3%

at New American

BB&T

BB&T

nontraditional credit borrowers

Regional

3%

Read review
loanDepot

loanDepot

at loanDepot

government loans

National

3.5%

at loanDepot

PrimeLending

PrimeLending

government loans

National

3%

Read review
Logo

at Fairway

Fairway Independent Mortgage: NMLS#2289

Logo

National / Regional

National

Min. Down Payment

3%

at Fairway


Why we like it

Ideal for borrowers who want lots of options and a quick turn time. Fairway Independent Mortgage offers a full selection of home loans along with a comprehensive mobile app for a fast and easy application process.

Pros

  • A robust suite of loan products.

  • Licensed in all 50 states.

  • Close in as little as 10 days using the Fairway app.

Cons

  • Limited branch locations.

  • Mortgage rates not posted on website.

Read Full Review

Guaranteed Rate: NMLS#2611

Logo

Min. Credit Score

620

Min. Down Payment

3%


Why we like it

Ideal for borrowers who are looking to apply for a mortgage and manage the process through online tools, whether buying or refinancing. Guaranteed Rate offers FHA, VA and USDA loans for borrowers who are well-qualified.

Pros

  • Works with most borrowers as long as they have good credit scores and incomes.

  • Provides a user-friendly digital platform that’s thorough in covering all types of borrowing scenarios.

  • Has a 95% customer satisfaction rate, according to company data.

Cons

  • Charges some fees, such as a $1,290 lender fee that includes a $150 application fee.

  • Offers many products, which might confuse or overwhelm borrowers.

  • Several click-throughs required for personalized rates.

Read Full Review

Guild Mortgage: NMLS#3274

Logo

Min. Credit Score

620

Min. Down Payment

3%


Why we like it

Ideal for borrowers with a relatively high credit score who may need down payment assistance or help from a state housing agency.

Pros

  • Works with loan programs offered by state and local housing agencies.

  • Specializes in mortgages for first-time home buyers.

  • Almost half of its loans are low-down-payment government mortgages.

  • Considers alternative credit, such as history of payments on rent and utilities.

Cons

  • With a concentration of offices in the West and South, Guild has little presence in the Northeast and Midwest.

  • Jumbo borrowers may find that banks are more competitive when it comes to large loan amounts.

Read Full Review

Caliber: NMLS#15622

Logo

Min. Credit Score

620

Min. Down Payment

3%


Why we like it

Ideal for first-time home buyers, veterans and those who may have credit challenges to overcome.

Pros

  • Participates in some state down payment assistance programs.

  • Offers educational resources for military borrowers.

  • Provides digital tools for a streamlined application process.

Cons

  • No mortgage rates displayed online.

  • Must work with a loan officer for pre-qualification and preapproval.

Read Full Review
Logo

at New American

New American Funding: NMLS#6606

Logo

Min. Credit Score

620

Min. Down Payment

3%

at New American


Why we like it

Ideal for borrowers who need to be evaluated on the basis of nontraditional credit. New American Funding offers FHA and VA loans, works with down payment assistance programs, and helps borrowers whose credit histories don't fit the mold of traditional banking.

Pros

  • Uses manual underwriting to evaluate creditworthiness.

  • Offers full online mortgage application, rate quotes, document upload and loan tracking.

  • Home equity lending sets it apart from most non-bank lenders.

Cons

  • Services not available in all 50 states.

Read Full Review

BB&T: NMLS#399803

Logo

Min. Credit Score

620

Min. Down Payment

3%


Why we like it

Ideal for borrowers in the Southeast who want online tools with the option of face-to-face service. BB&T, now part of Truist Financial Corp., offers a full menu of home loans.

Pros

  • Offers a variety of low-down-payment mortgage options

  • Offers construction loans to build a home or make significant renovations to an existing home.

  • Flexible borrowing and payment options for home equity loans and lines of credit.

  • Full suite of online capabilities.

Cons

  • Branches limited mostly to the Southeast.

Read Full Review
Logo

at loanDepot

loanDepot: NMLS#174457

Logo

Min. Credit Score

620

Min. Down Payment

3.5%

at loanDepot


Why we like it

Ideal for borrowers looking to get a mortgage with help from a loan officer. Digital back-office operations are said to add efficiency to the loan process.

Pros

  • Offers digital income, asset and employment verification.

  • Has over 150 affiliated loan stores nationwide for customers who prefer face-to-face service.

  • One of the nation’s most active lenders of FHA and VA loans.

Cons

  • Published mortgage rates include up to three points of prepaid interest and fees.

  • Does not offer home equity loans or lines of credit.

Read Full Review

PrimeLending: NMLS#13649

Logo

Min. Credit Score

620

Min. Down Payment

3%


Why we like it

Ideal for borrowers with past credit issues and those looking for down payment and closing cost assistance programs.

Pros

  • Low rate of consumer complaints filed with the Consumer Financial Protection Bureau.

  • Offers a "float-down" interest rate lock.

  • Offers a proprietary closing-cost assistance program.

Cons

  • No online mortgage rates.

  • Charges an origination fee.

  • Doesn't offer home equity products.

Read Full Review

More SC Housing-approved lenders

Here are additional South Carolina lenders that participate in SC Housing programs. While they haven’t been reviewed by NerdWallet, they are among the leading mortgage originators in the state.

South State Bank

  • Allows borrowers to start an application online.
  • Offers Rural Development Loans with 100% financing.
  • Has dozens of locations in South Carolina — from Abbeville to York.

Movement Mortgage

  • Says it completes the underwriting for new mortgage applications within six hours.
  • Processes 75% of its loans within seven business days.
  • Offers a condo loan program with conventional and government-backed financing options.

Ameris Bank

  • Has locations in nine cities in South Carolina.
  • Offers all government-backed loans.
  • Has a medical professional loan program that offers 100% financing to physicians, dentists, pharmacists and veterinarians, among others.

First Citizens Bank

  • Shows mortgage rates for a variety of home loans.
  • Has an online loan application with mortgage process status updates.
  • Offers a renovation loan that allows you to buy and improve a fixer-upper with a single closing.

More from NerdWallet

Last updated on January 2, 2020

Methodology

NerdWallet's selection of mortgage lenders for inclusion here was made based on our evaluation of the products and services that lenders offer to consumers who are actively shopping for the best mortgage. The six key areas we evaluated include the loan types and loan products offered, online capabilities, online mortgage rate information, customer service and the number of complaints filed with the Consumer Financial Protection Bureau as a percentage of loans issued. We also awarded lenders up to one bonus star for a unique program or borrower focus that set them apart from other lenders. To ensure consistency, our ratings are reviewed by multiple people on the NerdWallet Mortgages team.

To recap our selections...

NerdWallet's Best SC Housing Mortgage Lenders of 2020