The Best Mortgage Lenders in Tatum, SC
Compare verified mortgage lenders serving Tatum, South Carolina. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Tatum
Featured Mortgage Lenders
Movement Mortgage
Movement Mortgage, LLC
Movement Mortgage is a top-rated national lender headquartered in South Carolina, renowned for its exceptional customer service and competitive rates. With a strong local presence in the Tatum area, they specialize in streamlined digital mortgage processes and offer a wide range of loan products. Their high ratings stem from fast closings, personalized service, and a commitment to community involvement, making them a trusted choice for homebuyers in rural and suburban SC markets.
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Fairway Independent Mortgage
Fairway Independent Mortgage Corporation
Fairway Independent Mortgage is a highly reputable lender with a robust presence in South Carolina, serving Tatum and surrounding areas. Known for competitive rates and exceptional customer satisfaction, they offer extensive loan options and expert guidance through the homebuying process. Their experienced loan officers provide personalized service, and their strong community ties and numerous industry awards highlight their reliability and dedication to clients in the Midlands region.
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First Community Bank
First Community Bank
First Community Bank is a well-established regional bank with deep roots in South Carolina, offering comprehensive mortgage services to Tatum residents. They are praised for their local decision-making, competitive rates, and personalized customer care. With a focus on community banking values, they provide flexible loan solutions and have a strong track record of supporting homebuyers in rural areas, backed by years of stability and trust in the SC market.
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Frequently Asked Questions
Common questions about mortgage lending in Tatum, SC
What are the typical down payment requirements for homes in Tatum, SC, given its rural market?
In Tatum's more affordable rural market, many conventional loans can be secured with a 5% down payment, and FHA loans with just 3.5% down. For the area's lower median home prices, this translates to a manageable upfront cash requirement. Local lenders are also familiar with USDA Rural Development loans, which offer 0% down payment options for eligible properties and borrowers in this designated rural area.
Are there any local or state-specific first-time homebuyer programs that are particularly useful in Tatum?
Yes, the South Carolina State Housing Finance and Development Authority (SC Housing) offers several valuable programs. Their First-Time Homebuyer Program provides competitive fixed-rate mortgages, down payment assistance, and mortgage credit certificates for tax savings. Given Tatum's income levels, many residents may qualify for these benefits, which can make homeownership significantly more accessible.
How do property taxes in Marlboro County and Tatum impact my monthly mortgage payment?
Marlboro County has relatively low property tax rates compared to urban areas in South Carolina. When you escrow taxes and insurance with your mortgage, this lower tax burden results in a more affordable total monthly payment (PITI). Your lender will use the county's millage rate and the assessed value of the home to accurately calculate this escrow portion.
What should I know about getting a mortgage for a manufactured home on land in Tatum?
Financing for manufactured homes in Tatum requires specific loan programs, as not all lenders handle them. You'll likely need an FHA, VA, or USDA loan specifically designed for manufactured homes permanently affixed to owned land. It's crucial to work with a local lender experienced in these transactions, as they understand the appraisal and titling requirements unique to South Carolina.
How does Tatum's location in a federally designated rural area benefit my mortgage options?
Tatum's classification makes 100% financing possible through the USDA Rural Development Guaranteed Housing Loan Program. This is a major advantage for eligible buyers with moderate incomes, as it requires no down payment and often features competitive interest rates and more flexible credit guidelines than conventional loans, specifically to promote homeownership in rural communities like Tatum.
Why Choose a Mortgage Lender in Tatum?
Local Market Knowledge
Lenders who understand Tatum'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 Tatum and get competitive rates on your home loan.