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Loan Programs

There are many loan programs available - too numerous to cover them all, we've highlighted the programs more commonly offered today. Characteristics of each loan program are unique, so consult your loan officer for more information and to become familiar with the details of the programs available to you.

 Call us at 843-971-9222 for more information on any of these loan programs.

Loan ProgramsCharacteristics
FHA Mortgage
  • 96.5% purchase loan
  • Not just for first time home buyers
  • Low down payment of 3.5%
  • Upfront mortgage insurance included in loan amount 
  • Low monthly mortgage insurance
  • Loan is insured by the federal government (FHA) 
FHA Refinance
  • 97.75% refinance loan
  • Refinance any non-FHA loan
  • Loan is insured by the federal government (FHA) 
VA loan
  • 100% financing 
  • Must provide DD214 (honorable discharge)
  • No mortgage insurance
  • Funding fee included in loan amount
  • Funding fee may be waived for military disability recipients (10% disability or more)
  • Loan is guaranteed by the VA
Conventional  
  • 80%, 90% or 95% financing
  • No mortgage insurance for 80% financing
  • Not insured or guaranteed by the federal government
    		•
    USDA 103% financing
    203K FHA loan
    • Mortgage loan includes rehabilitation of property
    • Loan amount is based on the projected value of the property with the work completed and takes into account the cost of the work
     SC State Housing  
    • Assisted down payment loan programs for first time home buyers, targeted counties, disability recipients and single parents
    • Refer to the website for eligibility requirements and current interest rates: http://www.schousing.com