The Best Mortgage Lenders in Charleston, SC
Compare verified mortgage lenders serving Charleston, South Carolina. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Charleston
Featured Mortgage Lenders
Coastal States Mortgage
Coastal States Mortgage
Coastal States Mortgage is a highly-rated local mortgage broker serving the Charleston area with exceptional customer service and personalized attention. Founded in 2002, they have built a strong reputation for guiding clients through the entire mortgage process with expertise in various loan types. Their team of experienced professionals understands the unique Charleston real estate market and provides competitive rates with a focus on building long-term relationships. They consistently receive outstanding reviews for their responsiveness, transparency, and ability to close loans efficiently.
Loan Types:
Movement Mortgage
Movement Mortgage, LLC
Movement Mortgage is a nationally recognized mortgage lender founded in South Carolina with a strong presence throughout the Charleston area. While headquartered in Charlotte, they maintain deep roots in South Carolina and have local loan officers serving Charleston clients. Known for their innovative technology and efficient processing, they offer competitive rates and a streamlined application process. Movement receives consistently high ratings for their customer service, quick closing times, and extensive loan product offerings tailored to both first-time and experienced homebuyers.
Loan Types:
South Carolina Federal Credit Union
South Carolina Federal Credit Union
South Carolina Federal Credit Union is a trusted local financial institution with multiple branches throughout the Charleston area, offering competitive mortgage products to members. With over 65 years of service to the community, they provide personalized mortgage solutions with member-focused service. Their mortgage team offers competitive rates, low fees, and exceptional local market knowledge. They receive excellent reviews for their transparent process, educational approach, and commitment to helping members achieve homeownership with various loan programs including special first-time homebuyer options.
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Frequently Asked Questions
Common questions about mortgage lending in Charleston, SC
Are there any special mortgage programs for first-time homebuyers in Charleston, SC?
Yes, the South Carolina State Housing Finance and Development Authority (SC Housing) offers several programs, including down payment assistance and competitive fixed-rate mortgages, specifically for first-time buyers in Charleston. Additionally, the City of Charleston's Homeownership Program provides down payment assistance grants to income-eligible buyers purchasing within city limits, which is crucial in this competitive market.
How does Charleston's flood zone designation affect the mortgage process?
Given Charleston's low-lying geography, many properties are in FEMA-designated flood zones, which is a critical underwriting factor. Lenders will require a separate flood insurance policy in addition to homeowners insurance, which can add significantly to your monthly housing costs. It's essential to check a property's flood zone status early in your search, as this can impact loan approval and long-term affordability.
What are typical down payment requirements for a mortgage in Charleston's historic districts?
For properties in Charleston's historic districts like the French Quarter or Ansonborough, lenders may have stricter requirements due to higher appraised values and potential renovation restrictions. While conventional loans can start at 3-5% down, a 10-20% down payment is often recommended to secure better rates and terms, especially for non-conforming or unique historic properties that might not meet standard lending guidelines.
Are there local loan programs to help with Charleston's high closing costs?
Yes, SC Housing's Palmetto Home Advantage program offers a lender credit that can be used toward closing costs, which are typically higher in South Carolina due to state-specific taxes and fees. Some local Charleston lenders also offer proprietary programs or grants, particularly for teachers, healthcare workers, or public servants, to help offset closing costs in this high-demand market.
How do property tax rates in Charleston County impact mortgage affordability?
Charleston County has property tax rates that vary by municipality but generally range from about 0.45% to 0.55% of the assessed value. Lenders will calculate and include these taxes in your monthly escrow payment, which can add several hundred dollars to your payment. It's important to factor this into your budget, especially when considering homes in different parts of the county like Mount Pleasant, West Ashley, or James Island, which have varying rates.
Nearby Cities
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Why Choose a Mortgage Lender in Charleston?
Local Market Knowledge
Lenders who understand Charleston's housing market can offer better guidance and competitive rates.
Multiple Loan Options
Access to conventional, FHA, VA, USDA, and jumbo loans tailored to your financial situation.
Proven Track Record
Work with lenders who have years of experience and hundreds of satisfied customers in South Carolina.
Ready to Find Your Perfect Mortgage Lender?
Connect with top-rated mortgage professionals in Charleston and get competitive rates on your home loan.