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Best South Carolina Mortgage Lenders of 2019

NerdWalletJuly 2, 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.

Looking for a South Carolina mortgage lender? We've researched the state's top lenders, selecting the best for first-time home buyers, online experience and even home equity lines of credit, to help you choose the right mortgage lender today.

Min. Credit Score

620

Min. Down Payment

3%

Pros

  • Offers a complete online suite of mortgage application tools and loan tracking.
  • Has plenty of loan options to choose from and competitive interest rates.
  • Provides customer service in its physical locations, online, via chat and by phone.
  • Has a Doctor Loan Program for medical professionals who have high earning potential but little cash for down payments.

Cons

  • Has a limited number of physical branch locations in 11 states and Washington, D.C.
  • Does not consider alternative scoring data, such as rent or utility payments, in standard underwriting.
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
National / Regional

National

Min. Down Payment

0%

Pros

  • Wide range of affordable mortgage products designed for military members.
  • Willing to look at nontraditional credit data, such as rent payments, as part of its credit evaluation for certain products.
  • Lower minimum loan amounts than many other lenders.
  • Online application for preapproval with quick decision.
  • $1,000 mortgage rate match program.
  • Operates nationwide.

Cons

  • Charges application and underwriting fees.
  • Origination charge on a typical conventional loan is 1% of the loan amount.
Read full review
Min. Credit Score

620

Min. Down Payment

3%

Pros

  • VA loans are the bulk of USAA’s business, so it knows the ins and outs of eligibility.
  • Lots of experience assisting first-time home buyers.
  • Offers online pre-qualification.

Cons

  • Doesn’t offer FHA or USDA loans.
  • Alternative credit is not considered.
Read full review
Min. Credit Score

620

Min. Down Payment

3%

Pros

  • Embraces FHA-backed home loans.
  • Offers three construction loan offerings.
  • A professional loan package is tailored for the needs of doctors, lawyers, architects and certified public accountants.
  • Flagstar reps are familiar with low-down-payment state bond programs for first-time home buyers and income-limited households, as well as the areas that qualify for USDA loans.
  • Offers home equity loans and home equity lines of credit.

Cons

  • Charges an average $1,000 origination fee.
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
Rocket Mortgage

at Rocket Mortgage

at Rocket Mortgage

Min. Credit Score

620

Min. Down Payment

3%

Pros

  • The site caters to self-service users who want to apply for a home loan without talking to a human unless it’s absolutely necessary.
  • With your authorization, accesses asset statements from 98% of U.S. financial institutions.
  • Tells you the loan amount you’ll qualify for within minutes.
  • Rocket Mortgage’s document and asset retrieval capabilities can save you a bunch of time and hassle.

Cons

  • Doesn't offer home equity loans or HELOCs.
  • If you’re a “look me in the eye” type of customer, you’re out of luck.
  • Doesn’t consider alternative credit data. It just looks at credit scores and debt-to-income ratios, the way most mortgage lenders always have.
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

  • Allows borrowers to apply entirely online.
  • Offers down payment and closing cost assistance programs.
  • Accepts alternative credit data for some loan types.
  • May give existing customers a discount on mortgage lender origination fees.

Cons

  • Charges an application fee of $1,170, on average.
  • Has a high volume of consumer complaints, even for a big national bank.
Read full review
Min. Credit Score

620

Min. Down Payment

3%

Pros

  • Allows 3% down payment without borrower-paid mortgage insurance.
  • Helps borrowers find help from state and local housing authorities.
  • Emphasizes construction-to-permanent mortgages.
  • Purchase-and-renovation loans with more flexibility than the FHA offers.

Cons

  • Available only in states on the East Coast.
  • The loan process is not executed online.
Read full review

Summary of Best South Carolina Mortgage Lenders of 2019

LenderBest For

Minimum Credit Score

Minimum Down PaymentLearn More
SunTrust

SunTrust

first-time home buyers

620

3%

Read review
Guild Mortgage

Guild Mortgage

first-time home buyers

620

3%

Read review
Navy Federal

Navy Federal

veterans

N/A

0%

Read review
USAA

USAA

veterans

620

3%

Read review
Flagstar

Flagstar

low down payment

620

3%

Read review
BB&T

BB&T

low down payment

620

3%

Read review
Rocket Mortgage

Rocket Mortgage

at Rocket Mortgage

online experience

620

3%

at Rocket Mortgage

loanDepot

loanDepot

at loanDepot

online experience

620

3.5%

at loanDepot

Bank of America

Bank of America

HELOCs

620

3%

Read review
TD Bank

TD Bank

HELOCs

620

3%

Read review
LenderBest For

Minimum Credit Score

Minimum Down PaymentLearn More
SunTrust

SunTrust

first-time home buyers

620

3%

Read review
Guild Mortgage

Guild Mortgage

first-time home buyers

620

3%

Read review
Navy Federal

Navy Federal

veterans

N/A

0%

Read review
USAA

USAA

veterans

620

3%

Read review
Flagstar

Flagstar

low down payment

620

3%

Read review
BB&T

BB&T

low down payment

620

3%

Read review
Rocket Mortgage

Rocket Mortgage

at Rocket Mortgage

online experience

620

3%

at Rocket Mortgage

loanDepot

loanDepot

at loanDepot

online experience

620

3.5%

at loanDepot

Bank of America

Bank of America

HELOCs

620

3%

Read review
TD Bank

TD Bank

HELOCs

620

3%

Read review

Last updated on July 2, 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 South Carolina Mortgage Lenders of 2019