The Best Mortgage Lenders in North Myrtle Beach, SC
Compare verified mortgage lenders serving North Myrtle Beach, South Carolina. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in North Myrtle Beach
Featured Mortgage Lenders
Atlantic Coast Mortgage Group
Atlantic Coast Mortgage Group, LLC
Atlantic Coast Mortgage Group is a highly-rated local mortgage broker serving the Grand Strand area with exceptional customer satisfaction. With over two decades of experience specializing in coastal South Carolina properties, they offer personalized service and competitive rates. Their team has deep knowledge of the North Myrtle Beach real estate market and provides comprehensive loan options including specialized programs for vacation homes and investment properties. Their nearly perfect rating reflects their commitment to guiding clients through the entire mortgage process with transparency and expertise.
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Movement Mortgage
Movement Mortgage, LLC
Movement Mortgage is a nationally recognized lender with strong roots in the Carolinas, founded in Indian Land, SC. They maintain an excellent reputation throughout the Myrtle Beach metropolitan area including North Myrtle Beach. Known for their streamlined "Upfront Underwriting" process that can accelerate closings, they offer competitive rates and a wide range of loan products. Their local branch in Myrtle Beach provides personalized service while leveraging national resources, making them particularly strong for VA loans and first-time homebuyer programs in the coastal market.
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South Atlantic Bank
South Atlantic Bank
South Atlantic Bank is a community-focused regional bank headquartered in Myrtle Beach that serves the entire Grand Strand area including North Myrtle Beach. As a local institution, they offer personalized mortgage services with decision-making kept within the community. They specialize in construction loans and permanent financing for primary residences, vacation homes, and investment properties—particularly valuable in the North Myrtle Beach market. Their bankers have extensive knowledge of the local real estate landscape and provide competitive rates with the flexibility of a community bank combined with comprehensive mortgage services.
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Frequently Asked Questions
Common questions about mortgage lending in North Myrtle Beach, SC
Are there specific mortgage considerations for buying a condo or property in a flood zone in North Myrtle Beach?
Yes, this is a critical local factor. Many properties in North Myrtle Beach, especially those near the ocean, creeks, or the Intracoastal Waterway, are in FEMA-designated flood zones. Lenders will require flood insurance as a condition of the loan, which can add a significant monthly cost. For condos, lenders will also scrutinize the HOA's financial health, insurance coverage, and the percentage of owner-occupied units.
What local or state programs are available for first-time homebuyers in North Myrtle Beach?
South Carolina offers the SC State Housing Finance and Development Authority (SC Housing) programs, which are accessible in North Myrtle Beach. These include down payment assistance, competitive fixed-rate mortgages, and federal tax credits. Additionally, the City of North Myrtle Beach may occasionally offer grants or assistance programs, so it's wise to check with local housing agencies for any current initiatives.
How do seasonal rental income projections affect mortgage qualification for an investment property in North Myrtle Beach?
Lenders will typically consider only 75-80% of documented rental income (from a lease or appraiser's market analysis) to qualify for a mortgage on an investment property. Given North Myrtle Beach's strong vacation rental market, accurate income documentation is key. However, lenders are cautious and may require a history of property management or ownership, as seasonal income can be variable.
Are mortgage rates in North Myrtle Beach different from the national average, and what influences them locally?
Mortgage rates are primarily set by national markets, so they align closely with national averages. However, your final rate can be influenced by local competition among lenders and specific property factors like flood risk. Working with a lender familiar with the Grand Strand market can help you navigate any local nuances that might affect your loan's pricing or approval.
What is the typical down payment required for a primary residence versus a vacation/investment home in North Myrtle Beach?
For a primary residence, down payments can be as low as 3-5% with conventional loans or 3.5% with an FHA loan. For a second home or vacation property in North Myrtle Beach, lenders typically require a minimum of 10% down. For a non-owner-occupied investment property, the standard down payment requirement is often 15-25% or more, depending on the lender and your financial profile.
Nearby Cities
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Why Choose a Mortgage Lender in North Myrtle Beach?
Local Market Knowledge
Lenders who understand North 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 North Myrtle Beach and get competitive rates on your home loan.