8 Best SC Housing Mortgage Lenders of 2020

National / Regional

National

Min. Down Payment

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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.

Guaranteed Rate: NMLS#2611

4.5

Min. Credit Score

620

Min. Down Payment

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.

Guild Mortgage: NMLS#3274

4.0

Min. Credit Score

620

Min. Down Payment

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.

Caliber: NMLS#15622

4.0

Min. Credit Score

620

Min. Down Payment

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.

at New American

New American Funding: NMLS#6606

4.5

Min. Credit Score

620

Min. Down Payment

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.

BB&T: NMLS#399803

4.0

Min. Credit Score

620

Min. Down Payment

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.

at loanDepot

loanDepot: NMLS#174457

4.0

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.

PrimeLending: NMLS#13649

4.0

Min. Credit Score

620

Min. Down Payment

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.