The Best Mortgage Lenders in Coward, SC
Compare verified mortgage lenders serving Coward, South Carolina. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Coward
Featured Mortgage Lenders
Michael D. Brown
South State Bank - Mortgage Division
South State Bank has been serving the Pee Dee region of South Carolina for nearly 90 years and maintains a strong local presence in Florence County, which includes Coward. As one of the largest regional banks in South Carolina, they offer competitive mortgage rates and personalized service through local loan officers who understand the specific needs of rural communities like Coward. Their mortgage team has extensive experience with USDA rural development loans, which are particularly relevant for Coward residents. The bank consistently receives high marks for their responsive customer service and local decision-making capabilities.
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Chris Johnson
First Reliance Bank
First Reliance Bank has built a strong reputation throughout the Florence area with their "Hometown Service" approach to mortgage lending. They specifically serve the Coward community and surrounding areas with a focus on understanding local property values and community needs. Their mortgage specialists are known for taking extra time to educate first-time homebuyers and offering flexible underwriting for rural properties. The bank has received multiple awards for customer satisfaction and community involvement, making them a trusted local partner for mortgage needs in the Coward area.
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Regional Mortgage Services
Truist Mortgage
Truist (formed from BB&T and SunTrust merger) has deep roots in South Carolina and maintains a significant presence in Florence County, actively serving the Coward community. Their local mortgage team has specialized knowledge of rural property financing and offers a comprehensive range of loan products. Truist is particularly noted for their digital mortgage experience combined with local underwriting expertise, providing Coward residents with both convenience and personalized service. They have strong relationships with local real estate professionals and consistently receive positive feedback for their efficient closing processes and competitive rate offerings.
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Frequently Asked Questions
Common questions about mortgage lending in Coward, SC
Are there any special mortgage programs for first-time homebuyers in Coward, 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, which are accessible to eligible buyers in Coward. Additionally, local lenders often have knowledge of regional grants or affordable housing initiatives that can be paired with these state programs to make homeownership more accessible in Florence County.
How do property taxes in Coward, SC, affect my monthly mortgage payment?
Property taxes in Florence County, where Coward is located, are relatively moderate compared to national averages, which helps keep escrow payments manageable. For a typical home in Coward, your lender will estimate these taxes and include them in your monthly mortgage payment, holding the funds in an escrow account. It's advisable to get a precise tax estimate from the Florence County Auditor's Office when budgeting.
What is the typical down payment required for a mortgage on a rural property just outside Coward?
For a conventional loan on rural land or a property with acreage in the Coward area, lenders typically require a higher down payment, often 20-25%, due to perceived higher risk and appraisal complexities. However, if the property is eligible, a USDA Rural Development loan offers 100% financing with no down payment, which is a popular option for many qualified buyers in this semi-rural community.
How does Coward's location within the "Pee Dee" region influence mortgage lending and insurance requirements?
While Coward itself isn't in a high-risk flood zone, many surrounding areas in the Pee Dee region are. Lenders will require a flood elevation certificate and likely mandate flood insurance if the property is in a designated Special Flood Hazard Area (SFHA). This is a critical and common cost factor to investigate early in the home-buying process in this part of South Carolina.
Are local community banks or credit unions in the Coward area a good option for mortgages?
Absolutely. Local institutions like First Reliance Bank or local credit unions often have deep roots in the Pee Dee community and may offer more personalized service and flexibility, especially for borrowers with unique financial situations or those purchasing non-standard properties common in the area. They can also be very knowledgeable about local appraisal values and market conditions in Coward and its surrounding neighborhoods.
Why Choose a Mortgage Lender in Coward?
Local Market Knowledge
Lenders who understand Coward'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 Coward and get competitive rates on your home loan.