The Best Mortgage Lenders in Florence, SC
Compare verified mortgage lenders serving Florence, South Carolina. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Florence
Featured Mortgage Lenders
First Reliance Bank Mortgage Department
First Reliance Bank
First Reliance Bank is a community bank headquartered in Florence, SC, with over two decades of trusted service. They are highly rated for their personalized mortgage solutions, deep local market knowledge, and commitment to customer satisfaction. Their competitive rates, extensive loan options, and strong community involvement make them a top choice for homebuyers in the Florence area.
Loan Types:
Movement Mortgage
Movement Mortgage
Founded in South Carolina, Movement Mortgage has built a reputation for excellence with high customer ratings and efficient loan processing. They offer a wide range of mortgage products and are known for their competitive rates and exceptional service. With a strong regional presence, they actively serve the Florence area, providing reliable and streamlined home financing options.
Loan Types:
Guaranteed Rate
Guaranteed Rate
Guaranteed Rate is a nationally recognized mortgage lender with a strong local presence in South Carolina, including service to Florence. They are praised for their digital mortgage experience, competitive rates, and wide array of loan products. With high customer satisfaction scores and a commitment to transparency, they are a top contender for homebuyers seeking reliable and innovative financing solutions.
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Frequently Asked Questions
Common questions about mortgage lending in Florence, SC
Are there any first-time homebuyer assistance programs specific to Florence, SC?
Yes, the South Carolina State Housing Finance and Development Authority (SC Housing) offers several statewide programs, but local lenders in Florence often have specific knowledge of additional down payment assistance or closing cost grants available for Florence County residents. It's also worth checking with the Florence County government or local housing nonprofits for any city-specific initiatives aimed at promoting homeownership in targeted neighborhoods.
How do property taxes in Florence, SC, impact my monthly mortgage payment?
Florence County property taxes are relatively moderate compared to national averages, which helps keep escrow payments manageable. The current millage rate for the City of Florence is combined with county and school district rates. Your lender will calculate an estimated monthly escrow payment based on the assessed value of the home, which is typically lower than the purchase price, a key factor in your total PITI (Principal, Interest, Taxes, and Insurance) payment.
What is a typical down payment percentage for a conventional loan on a home in Florence's current market?
While 20% down is ideal to avoid private mortgage insurance (PMI), many local lenders in Florence report that buyers are successfully securing conventional loans with down payments as low as 3-5%, especially for first-time buyers. Given Florence's affordable housing market, a lower down payment is often more attainable, but you should discuss PMI costs with your lender as they will be added to your monthly payment.
Does Florence, SC, have any special mortgage considerations for homes in historic districts like the Downtown Historic District?
Yes, purchasing a home in a designated historic district in Florence can involve additional steps. Some lenders may require specialized appraisals familiar with historic properties, and you should investigate if the home has any preservation easements. Furthermore, there may be specific renovation loan programs or grants available for historic homes, which a local mortgage broker with experience in these neighborhoods can help you navigate.
How do interest rates for mortgages in Florence compare to state and national averages?
Mortgage interest rates in Florence typically align closely with national averages, as they are set by broader financial markets. However, your specific rate will depend heavily on your credit profile, loan type, and the lender you choose. It's highly recommended to shop around with local credit unions, regional banks, and national lenders operating in the Florence area, as competition can sometimes yield slightly better terms or local promotional rates.
Nearby Cities
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Why Choose a Mortgage Lender in Florence?
Local Market Knowledge
Lenders who understand Florence'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 Florence and get competitive rates on your home loan.