Best of

Best SC Housing Mortgage Lenders of 2019

NerdWalletMay 20, 2019

At NerdWallet, we strive to help you make financial decisions with confidence. To do this, many or all of the products featured here are from our partners. However, this doesn’t influence our evaluations. Our opinions are our own.

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.

National / Regional

National

Min. Down Payment

3%

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
Min. Credit Score

620

Min. Down Payment

3%

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
Min. Credit Score

620

Min. Down Payment

3%

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-amount loans.
Read full review
Min. Credit Score

620

Min. Down Payment

3%

Pros

  • Participates in some 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
New American Funding

at New American

at New American

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

  • Services not available in all 50 states.
Read full review
Min. Credit Score

620

Min. Down Payment

3%

Pros

  • Considers alternative credit history on certain loans.
  • 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

  • Available mostly in the Southeast; not available nationwide.
  • Creating an account is mandatory if you want to apply online.
Read full review
loanDepot

at loanDepot

at loanDepot

Min. Credit Score

620

Min. Down Payment

3.5%

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
Min. Credit Score

620

Min. Down Payment

3%

Pros

  • Low rate of consumer complaints filed with the Consumer Financial Protection Bureau.
  • Request a pre-qualification through PrimeLending’s secure system from a phone, tablet or computer.
  • Niche mortgage products include energy-efficient mortgages, FHA 203(k) renovation and remodeling loans, manufactured home mortgages and home construction loans.
  • Free “float down” interest rate option lets borrowers choose the lower rate if interest rates fall, even with a rate lock.
  • NeighborhoodEdge closing-cost assistance program for low- to moderate-income borrowers allows qualified borrowers $2,000 in closing cost credits (restrictions on income and location).
  • “Alternative doc” program lets borrowers qualify for mortgage based on bank statements rather than tax returns.

Cons

  • No live chat online.
  • No online mortgage rates quotes.
Read full review

Summary of Best SC Housing Mortgage Lenders of 2019

LenderBest ForNational/RegionalMinimum Down PaymentLearn More
Fairway

Fairway

online convenience

National

3%

Read review
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

Fairway

online convenience

National

3%

Read review
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

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 May 20, 2019

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 2019