The Best Mortgage Lenders in Galivants Ferry, SC
Compare verified mortgage lenders serving Galivants Ferry, South Carolina. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Galivants Ferry
Featured Mortgage Lenders
Movement Mortgage
Movement Mortgage, LLC
Movement Mortgage is a top-rated lender founded in South Carolina with a strong local presence in the Galivants Ferry area. They are renowned for their competitive rates, fast closing times, and exceptional customer service, earning high marks for transparency and efficiency. With numerous positive reviews highlighting their personalized approach and expertise in various loan types, they have built a reputation as a reliable choice for homebuyers in Horry County and beyond.
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Coastal Carolina National Bank
Coastal Carolina National Bank
As a community-focused bank based in Myrtle Beach, Coastal Carolina National Bank offers personalized mortgage services with deep roots in the Grand Strand region, including Galivants Ferry. They are praised for their local decision-making, competitive loan options, and commitment to customer satisfaction, with reviews often highlighting their friendly staff and straightforward processes. Their long-standing presence and strong community involvement make them a trusted lender for residential purchases and refinances.
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Guaranteed Rate
Guaranteed Rate, Inc.
Guaranteed Rate is a nationally recognized mortgage lender with a strong local office in Myrtle Beach, serving Galivants Ferry and surrounding areas. They are highly rated for their innovative online tools, competitive rates, and efficient service, with many customers noting quick approvals and helpful guidance throughout the loan process. Their extensive experience and focus on technology-driven solutions ensure a smooth experience for first-time homebuyers and investors alike.
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Frequently Asked Questions
Common questions about mortgage lending in Galivants Ferry, SC
What are typical down payment requirements for homes in Galivants Ferry, SC?
In Galivants Ferry's more rural and moderately priced market, many conventional loans require a minimum of 5% down, though 20% is ideal to avoid private mortgage insurance (PMI). For eligible buyers, USDA loans offer a significant advantage with 0% down payment required, as much of the area qualifies for this rural development program. FHA loans are also common, requiring as little as 3.5% down.
Are there any local or state-specific first-time homebuyer programs available in Galivants Ferry?
Yes, the South Carolina State Housing Finance and Development Authority (SC Housing) offers several programs beneficial for Galivants Ferry buyers. These include down payment assistance, competitive fixed-rate mortgages, and mortgage credit certificates (MCC) that provide a federal tax credit. Eligibility often includes income limits and home purchase price caps, which align well with the area's housing costs.
How does the rural nature of Galivants Ferry affect my mortgage and property insurance options?
The rural setting can influence both loan type and insurance costs. Your property may qualify for a USDA loan, which is specifically designed for rural areas. However, you may face higher homeowners insurance premiums due to factors like distance from a fire hydrant or fire station, and you might need to budget for additional coverage like flood insurance if the property is near the Little Pee Dee River or its tributaries.
What should I know about property taxes and closing costs when getting a mortgage in Horry County (Galivants Ferry)?
Horry County property taxes are relatively moderate, with a 4% assessment ratio for a primary residence. Closing costs in South Carolina typically range from 2% to 5% of the loan amount. It's important to note that South Carolina requires a unique closing cost: a one-time, non-recurring intangible tax on the mortgage, which is $1.85 per $500 of the loan amount.
Are adjustable-rate mortgages (ARMs) a good option in Galivants Ferry's current market?
Given the current interest rate environment and Galivants Ferry's status as a stable, non-speculative market, fixed-rate mortgages are generally the recommended and more popular choice for long-term security. ARMs might be considered by buyers who are certain they will sell or refinance before the initial fixed period ends, but the modest home price appreciation in the area often doesn't justify the interest rate risk for most buyers.
Why Choose a Mortgage Lender in Galivants Ferry?
Local Market Knowledge
Lenders who understand Galivants Ferry'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 Galivants Ferry and get competitive rates on your home loan.