Plain-English guides, tips, and answers for home buyers and homeowners in coastal South Carolina.
Before you start looking at homes, get a realistic sense of your budget. Lenders typically look at your debt-to-income ratio (DTI) — how much of your monthly income goes toward debt payments. Most conventional loan programs want to see total debt below 43–50% of gross monthly income.
Use our Affordability Calculator to get a rough estimate — but the best way to know is to talk to a loan officer and get pre-qualified.
Your credit score affects what loan programs you qualify for and what interest rate you'll receive. Pull your free credit report at AnnualCreditReport.com and look for errors or accounts that need attention. The higher your score, generally the more options you'll have.
FHA loans tend to accommodate lower scores than conventional loans. VA loans have their own standards. Ask us what makes sense for your situation.
A pre-approval letter tells sellers you're a serious buyer — and gives you a realistic price range to work within. Getting pre-approved involves a credit pull, income documentation, and basic asset verification. It typically takes a few days once documents are in.
Pre-approval is not the same as final loan approval — underwriting comes later — but it's the most important step before making an offer in a competitive market.
Once you find a home you want to purchase, your real estate agent will help you make an offer. When accepted, you'll be "under contract" and the mortgage process will move into high gear — appraisal, underwriting, and final approval.
You'll likely need to submit additional documents during underwriting. Respond quickly to any lender requests to avoid delays.
Closing is when ownership transfers to you. You'll sign a lot of paperwork, pay your closing costs and down payment (via wire or cashier's check), and receive your keys. Make sure to review the Closing Disclosure you receive at least three business days before closing — it outlines all final costs.
Closing costs are fees you pay at settlement to finalize your mortgage. They're separate from your down payment and typically range from 2%–5% of your loan amount. Here's what's usually included:
Origination fee, underwriting fee, and other lender charges for processing your loan. These vary by lender and loan type.
A licensed appraiser visits the home to confirm it's worth the purchase price. Typically $400–$700+ depending on property type.
Protects the lender (and optionally you) against ownership disputes or liens not discovered in the title search.
Interest from your closing date to the end of that month. First full mortgage payment is typically due the month after closing.
Initial deposits for your property tax and homeowners insurance escrow accounts — usually 2–3 months of each.
County recording fees to make your ownership official, survey fees, and other miscellaneous closing costs.
We work closely with real estate professionals across the Grand Strand. If you're an agent looking for a reliable mortgage partner for your buyers, here's what we bring to the table.
We know a slow pre-approval can cost your buyer an offer. We work to turn pre-approvals quickly and communicate proactively throughout the process.
We keep you and your buyer informed at every stage — so you're never in the dark about where the file stands heading into closing.
We understand Horry County, coastal SC property types, HOA considerations, and the nuances of the Grand Strand market that affect financing decisions.
We can work with buyers using VA, FHA, USDA, conventional, and other loan types — which means we can help more of your clients, not just the easy ones.
We're here to help. No question is too basic or too complicated.