The Best Mortgage Lenders in Columbia, SC
Compare verified mortgage lenders serving Columbia, South Carolina. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Columbia
Featured Mortgage Lenders
Mortgage Specialists
Founders Federal Credit Union
Founders Federal Credit Union is one of South Carolina's largest and most established credit unions with multiple branches serving the Columbia area. They consistently receive exceptional ratings for their personalized mortgage services, competitive rates, and deep community roots. As a not-for-profit financial cooperative, they often offer lower fees and more favorable terms than traditional banks, with mortgage specialists who provide comprehensive guidance through the entire home financing process.
Loan Types:
Mortgage Advisors
Movement Mortgage
Movement Mortgage has a strong physical presence in Columbia with local loan officers who understand the Midlands real estate market. Founded in North Carolina but now serving nationwide, they're particularly noted for their efficient processing and closing times, often completing loans in 30 days or less. They receive high marks for responsive communication and offer a wide range of loan products with competitive rates. Their local Columbia team has extensive experience helping both first-time and experienced homebuyers.
Loan Types:
Mortgage Consultants
Palmetto State Mortgage
Palmetto State Mortgage is a locally-owned and operated mortgage lender deeply embedded in the Columbia community. They've built an excellent reputation for their personalized service and expertise with South Carolina-specific home loan programs. Their team includes experienced mortgage professionals who take time to educate borrowers and find the best financing solutions. They're particularly strong with first-time homebuyer programs and VA loans, offering competitive rates and flexible qualifying criteria for Columbia area residents.
Loan Types:
Frequently Asked Questions
Common questions about mortgage lending in Columbia, SC
What first-time homebuyer programs are specifically available in Columbia, SC?
Columbia homebuyers have access to the SC State Housing Finance and Development Authority's (SC Housing) Palmetto Home Advantage program, which offers competitive interest rates and down payment assistance. Additionally, the City of Columbia offers the HOME Down Payment Assistance Program for income-eligible buyers purchasing within city limits, which can provide up to $10,000 in assistance as a deferred, forgivable loan.
How do property taxes in Richland and Lexington Counties affect my mortgage payment in Columbia?
Property taxes in the Columbia metro area vary by county, with Richland County typically having slightly higher millage rates than Lexington County. Your lender will escrow for these taxes, and it's crucial to factor them into your total monthly payment, as they can add $150-$300 or more per month for a median-priced home, depending on the exact location and any applicable homestead exemptions.
Are there specific mortgage considerations for buying a home in Columbia's historic neighborhoods like Shandon or Elmwood Park?
Yes, purchasing in a local historic district may involve additional steps. Some lenders may require a specialized historic property appraisal, and you should investigate if the home has any preservation easements. Furthermore, while not a mortgage product, you should explore if the property qualifies for the City of Columbia's 10-year special property tax assessment for historic renovations, which can improve affordability.
What is the typical down payment needed for a conventional loan in Columbia's current market?
While conventional loans can technically go as low as 3% down, the competitive Columbia market often sees sellers favoring offers with stronger down payments of 10-20%. For a median-priced home around $275,000, a 5-10% down payment ($13,750-$27,500) is a common target for buyers to balance competitiveness, monthly payment, and avoiding private mortgage insurance (PMI).
Does Columbia's proximity to Fort Jackson and Shaw Air Force Base create unique mortgage opportunities?
Absolutely. Many lenders in Columbia are exceptionally familiar with VA loans and the military home-buying process. VA loans, which require no down payment and have no PMI, are very common here. It's also wise to work with a lender and real estate agent experienced with military relocations who understand timelines for PCS moves and the VA's specific property condition requirements.
Why Choose a Mortgage Lender in Columbia?
Local Market Knowledge
Lenders who understand Columbia'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 Columbia and get competitive rates on your home loan.