South Carolina Mortgage Lenders and Rates (SC)

In South Carolina, finding the right mortgage can save you thousands of dollars. Mortgage-Info.us was created for that purpose. If you are looking for Lenders, Mortgage Rates, or Mortgage Brokers – we’ve have them. When you fill out our mortgage quote form, you’ll get offers from 2-4 different lenders that will compete to save you money.

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Featured Mortgage Lenders in South Carolina

South Carolina Mortgage Quick Facts

South Carolina State Population: 4,012,012*
Median South Carolina Home Price: $94,900*
Total South Carolina Housing Units:
1,825,531*
House Ownership Rate in South Carolina
: 72.2%*

Types of Mortgage Loans Available in South Carolina

How Your Credit Score Affects Your Mortgage Rate

Initially you need to know what your current credit score is . You should compare that against the average South Carolina consumer credit score which is 665. And the national average credit score is 677. Your credit score impacts what your home mortgage rate will be. Historically home mortgage rates have varied from 5% to over 13%. Lenders create their home mortgage rates by using the Federal Discount Interest Rate and then increase it by using an internal formula to create their own home mortgage rate. When you apply for a home mortgage, your home mortgage rate will be determined by a whole host of factors, but your credit score is an important factors.

South Carolina Mortgage State Laws:

Foreclosure

South Carolina Foreclosures are judicial.

The proceedings to South Carolina foreclosures are similar to other states that practice judicial foreclosures. The lender files a lawsuit, and if the borrower cannot pay within the time the court specifies, the borrower and the community receive fair notice of the date and place of the auction, and the property is auctioned to the highest bidder.

South Carolina High-Cost and Consumer Home Loans Act, Chapter 23, Title 37

This amendment was proposed in 2004.

Its purpose was to protect consumers. It did so be giving the borrower the opportunity to receive loan counseling, and by prohibiting provisions in a high cost home loan agreement, among many other things.

“Flipping” Section 37-10-109

This amendment was added in 1976.

“Flipping” is the willing, and intentional refinance of a home loan when the majority of the previous interest rate is lower than the new loan, among other specifications.

This amendment made “Flipping” illegal in South Carolina.

SC Mortgage Fraud Office
White Collar Crime Supervisor
http://columbia.fbi.gov/
151 Westpark Blvd.
Columbia, SC 29210-3857
Phone: (803) 551-4200

South Carolina Counties:

Abbeville County, Aiken County, Allendale County, Anderson County, Bamberg County, Barnwell County, Beaufort County, Berkeley County, Calhoun County, Charleston County, Cherokee County, Chester County, Chesterfield County, Clarendon County, Colleton County, Darlington County, Dillon County, Dorchester County, Edgefield County, Fairfield County, Florence County, Gerogetown County, Greenville County, Greenwood County, Hampton County, Horry County, Jasper County, Kershaw County, Lancaster County, Laurens County, Lee County, Lexington County, McCormick County, Marion County, Marlboro County, Newberry County, Oconee County, Orangeburg County, Pickens County, Richland County, Saluda County, Spartanburg County, Sumter County, Union County, Williamsburg County, York County

*Source
-US Census

 

This site is not a broker and does not collect or solicit mortgage applications. Content is for informational or comparison purposes only. Services are not available in New York. Products and services may not be available in all other states.

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