The Best Mortgage Lenders in Myrtle Beach, SC
Compare verified mortgage lenders serving Myrtle Beach, South Carolina. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Myrtle Beach
Featured Mortgage Lenders
Michael S. Brown
Coastal Carolina National Bank
Coastal Carolina National Bank is a highly-rated local community bank that has built an exceptional reputation in the Myrtle Beach area for personalized mortgage services. They consistently receive outstanding reviews for their local decision-making process, competitive rates, and deep understanding of the Grand Strand real estate market. As a community-focused institution, they offer specialized knowledge of coastal property financing and have strong relationships with local real estate professionals. Their mortgage team provides customized solutions with exceptional customer service, making them a top choice for both home purchases and refinancing in the Myrtle Beach region.
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Casey Crawford
Movement Mortgage
Movement Mortgage, while headquartered in Charlotte, has a strong presence and excellent reputation throughout the Myrtle Beach area. They are particularly noted for their efficient processing and closing times, often completing loans in as little as 30 days. The company receives consistently high marks for their responsive communication and streamlined digital application process. Movement has specialized expertise in serving military families and veterans, which is particularly valuable in the Myrtle Beach area near several military bases. Their local loan officers have deep knowledge of the coastal South Carolina market and provide competitive rate options across all loan programs.
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Brian A. Holland
Atlantic Bay Mortgage
Atlantic Bay Mortgage has been serving the Myrtle Beach community for over 25 years and has established itself as one of the most trusted mortgage lenders in the area. They are particularly strong in construction and vacation home financing, which are significant segments of the Myrtle Beach market. The company receives excellent feedback for their experienced loan officers who provide personalized guidance throughout the entire mortgage process. Atlantic Bay's long-standing presence in the community means they have strong relationships with local builders and real estate agents, giving them unique insights into the coastal property market. Their commitment to customer education and transparent communication makes them a top choice for both first-time and experienced homebuyers.
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Frequently Asked Questions
Common questions about mortgage lending in Myrtle Beach, SC
Are there any special mortgage considerations for buying a home in a Myrtle Beach flood zone?
Yes, this is a critical local factor. Many properties in Myrtle Beach, especially those near the Intracoastal Waterway or ocean-adjacent areas, are in FEMA-designated flood zones. Lenders will require flood insurance as a condition of your mortgage, which is a separate policy from homeowners insurance and can add significantly to your monthly housing costs. It's essential to check the flood zone designation and get an insurance quote before finalizing your purchase.
What first-time homebuyer programs are specifically available in Myrtle Beach, SC?
South Carolina Housing offers the Palmetto Home Advantage program, which is widely used in Myrtle Beach. This program provides down payment assistance in the form of a second, forgivable loan, competitive interest rates, and is available to both first-time and repeat buyers. Additionally, the City of Myrtle Beach occasionally offers its own housing initiatives, so checking with local housing nonprofits like the Waccamaw Housing and Community Development Corporation is recommended.
How do Myrtle Beach's status as a vacation rental market affect mortgage qualification for an investment property?
If you're purchasing a condo or home with the intent to rent it out short-term, lenders will treat it as an investment property. This typically requires a larger down payment (often 20-25%), higher interest rates, and the lender will use a percentage of the documented rental income (usually 75%) to help you qualify. You'll need a solid rental projection from a property management company, as lender guidelines for vacation rentals are stricter than for long-term rentals.
Are condo mortgages harder to get in Myrtle Beach due to the high number of investor-owned units?
They can be, especially in older, high-rise oceanfront buildings. Lenders have strict rules on owner-occupancy rates, financial health of the condo association, and adequate insurance. If a complex has too many investor-owned units (often over 50%), is involved in litigation, or has insufficient reserves, it may not meet Fannie Mae/Freddie Mac guidelines, forcing you into a more expensive non-warrantable loan. Always have your lender review the condo questionnaire and docs early in the process.
What is a typical down payment needed for a primary residence in Myrtle Beach, and are local rates competitive?
For a primary residence, conventional loans with 3-5% down are common, though 20% avoids private mortgage insurance (PMI). Myrtle Beach mortgage rates are generally in line with national averages but can vary slightly between local lenders, credit unions, and national banks. It's wise to shop around, as some local lenders have expertise with the area's unique property types and may offer special programs. Rates for second homes or investment properties will be higher.
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Why Choose a Mortgage Lender in Myrtle Beach?
Local Market Knowledge
Lenders who understand Myrtle Beach'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 Myrtle Beach and get competitive rates on your home loan.