The Best Mortgage Lenders in Wallace, SC
Compare verified mortgage lenders serving Wallace, South Carolina. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Wallace
Featured Mortgage Lenders
Casey Crawford
Movement Mortgage
Movement Mortgage is one of South Carolina's largest and most reputable mortgage lenders, founded and headquartered in the state. While based in Fort Mill, they serve the entire state including rural areas like Wallace. They're particularly known for their streamlined digital mortgage process and competitive rates. With over 4,500 excellent reviews, they maintain a 4.8-star rating and specialize in helping borrowers across South Carolina, including rural homebuyers who may need USDA loans. Their strong community presence and commitment to South Carolina markets make them an excellent choice for Wallace residents.
Loan Types:
Customer Service
First Reliance Bank
First Reliance Bank is a well-established regional bank headquartered in Florence, SC, located approximately 30 minutes from Wallace. They have deep roots in the Pee Dee region and specifically serve communities throughout the area. With 25 years of experience and over 180 excellent reviews, they offer personalized mortgage services with local decision-making. Their community bank approach means Wallace residents work with local loan officers who understand the regional real estate market. They're particularly strong for first-time homebuyers and offer competitive construction loans for rural properties.
Loan Types:
Mortgage Department
Founders Federal Credit Union
Founders Federal Credit Union is one of South Carolina's largest credit unions with a strong presence throughout the Pee Dee region, including service to Wallace residents. While founded in 1950, their mortgage division has been serving members for decades with exceptional customer satisfaction ratings. They offer highly competitive rates to members and specialize in helping borrowers in rural communities with USDA loan options. With multiple branches in Florence and surrounding areas, they provide convenient local service combined with the benefits of a large financial institution. Their member-focused approach and community commitment make them a top choice for Wallace homebuyers.
Loan Types:
Frequently Asked Questions
Common questions about mortgage lending in Wallace, SC
What are the typical down payment requirements for homes in Wallace, SC, given its rural market?
In Wallace's more affordable market, many conventional loans require a 5-10% down payment, but qualified buyers can often utilize USDA Rural Development loans, which require 0% down. FHA loans with 3.5% down are also common. Local lenders are familiar with the area's property types and can guide you to the most suitable low-down-payment option.
Are there any special mortgage programs for first-time homebuyers in Wallace?
Yes, the South Carolina State Housing Finance and Development Authority (SC Housing) offers first-time homebuyer programs with competitive interest rates, down payment assistance, and mortgage credit certificates for state income tax benefits. These programs are accessible in Wallace and can be combined with the area's lower home prices for significant savings.
How does the appraisal process work for a manufactured or modular home in Wallace, given they are common in the area?
Appraising manufactured homes in Wallace requires a specialist familiar with HUD tags, foundation requirements, and local comparable sales for these property types. Lenders will require the home to be permanently affixed to a foundation and classified as real estate, not personal property, which is a key step in securing financing.
What local factors in Wallace could affect my property taxes and homeowners insurance costs?
Marlboro County's property tax rates and any municipal taxes for Wallace will impact your escrow payment. For insurance, lenders will require coverage that reflects local risks, which may include wind/hail coverage due to South Carolina's coastal storm exposure, even though Wallace is inland. Flood insurance may also be required if the property is in a designated zone.
Is it better to use a local Wallace lender or a national bank for my mortgage?
Using a local lender or a mortgage broker familiar with Marlboro County is highly advantageous. They have specific experience with the area's property types, well and septic systems (common in rural Wallace), and can efficiently navigate county-specific closing processes. They may also have stronger relationships with local appraisers and title companies.
Why Choose a Mortgage Lender in Wallace?
Local Market Knowledge
Lenders who understand Wallace'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 Wallace and get competitive rates on your home loan.