BEST OF
8 Best SC Housing Mortgage Lenders of 2021
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.
To take advantage of the affordable homeownership programs offered by SC Housing, you’ll need to contact a lender that partners with the state agency. Not all lenders do.
NerdWallet has compiled a list of the SC Housing-approved lenders that rank among the best. You can be confident that these mortgage companies are familiar with the home loan programs that may include generous assistance SC Housing offers in your county.
To take advantage of the affordable homeownership programs offered by SC Housing, you’ll need to contact a lender that partners with the state agency. Not all lenders do.
NerdWallet has compiled a list of the SC Housing-approved lenders that rank among the best. You can be confident that these mortgage companies are familiar with the home loan programs that may include generous assistance SC Housing offers in your county.
Summary of Best SC Housing Mortgage Lenders of 2021
| Lender | NerdWallet Rating | Minimum Credit Score | Minimum Down Payment | Learn More |
|---|---|---|---|---|
Best for online convenience | 620 | 3% | at Fairway Independent Mortgage | |
Best for online convenience | 620 | 3% | at Guaranteed Rate | |
Best for first-time home buyers | 620 | 3% | Read review | |
Best for first-time home buyers | 620 | 3% | Read review | |
Best for nontraditional credit borrowers | 620 | 3% | at New American Funding | |
Best for nontraditional credit borrowers | 620 | 3% | Read review | |
Best for government loans | 620 | 5% | at loanDepot | |
Best for government loans | 620 | 3% | Read review |
at Fairway Independent Mortgage
at Fairway Independent Mortgage
Min. Credit Score
620
Min. Down Payment
3%
Pros
- Offers a robust suite of loan products, including a variety of renovation loans.
- Has a digital application that can be completed in 10 minutes.
- Works with some state housing finance agencies to offer mortgages with down payment and closing cost assistance.
Cons
- Mortgage rates aren't posted online.
at Guaranteed Rate
at Guaranteed Rate
Min. Credit Score
620
Min. Down Payment
3%
Pros
- Offers the ability to securely upload and digitally sign loan documents.
- Displays detailed sample rates for many of its loan products.
Cons
- Doesn't offer home equity loans or lines of credit.
Min. Credit Score
620
Min. Down Payment
3%
Pros
- Offers multiple online conveniences, including a full mortgage application, e-signatures and digital loan process tracking.
- Offers a wide variety of loan products, including home improvement and manufactured home loans.
Cons
- Does not offer home equity loan products.
- Average interest rates and fees are higher than other lenders.
Min. Credit Score
620
Min. Down Payment
3%
Pros
- Offers extensive educational resources for military borrowers.
- Provides digital tools for a streamlined application process.
- Participates in some state down payment assistance and first-time home buyer programs.
Cons
- No mortgage rates displayed online.
- Doesn’t offer home equity loans or lines of credit.
at New American Funding
at New American Funding
Min. Credit Score
620
Min. Down Payment
3%
Pros
- Uses manual underwriting to evaluate creditworthiness.
- Offers full online mortgage application, rate quotes, document upload and loan tracking.
Cons
- Mortgage rates offered to borrowers are higher than the government-reported median of all lenders.
Min. Credit Score
620
Min. Down Payment
3%
Pros
- Offers a variety of low-down-payment mortgages as well as construction mortgages.
- Website lets users estimate rates online by loan and property type, amount and location.
- Has an online mortgage application.
Cons
- Branches limited to mostly the Southeast region.
- Does not offer FHA loans.
at loanDepot
at loanDepot
Min. Credit Score
620
Min. Down Payment
5%
Pros
- Offers digital income, asset and employment verification.
- Offers multiple renovation loan options.
- Has over 200 affiliated loan stores nationwide for customers who prefer face-to-face service.
Cons
- Mortgage rates aren't available online; you'll need to contact a loan officer.
- Does not offer home equity loans or lines of credit.
Min. Credit Score
620
Min. Down Payment
3%
Pros
- Full online application includes document uploads and automated loan updates.
- Offers a "float-down" interest rate lock.
- Offers a proprietary closing-cost assistance program.
Cons
- No online mortgage rates — you have to contact the lender for info.
- Doesn't offer home equity products.
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.
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.
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.
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.
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 26, 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 SC Housing Mortgage Lenders of 2021
- Fairway Independent Mortgage: Best for online convenience
- Guaranteed Rate: Best for online convenience
- Guild Mortgage: Best for first-time home buyers
- Caliber: Best for first-time home buyers
- New American Funding: Best for nontraditional credit borrowers
- BB&T (Truist): Best for nontraditional credit borrowers
- loanDepot: Best for government loans
- PrimeLending: Best for government loans
