SC Home Loans is a local, family owned company with a mission to serve our community. We believe the rates and fees offered by banks and other financial institutions can be excessive. Our desire is to help you navigate the complexity of today's mortgages, because we understand the needs of South Carolina families. With over 22 years of experience, we can guide you through every step of the mortgage process from start to finish.
We are mortgage brokers, and we work directly with different lenders to find you the best loan program and rate available. These lenders offer SC Home Loans wholesale rates not available to their retail customers, allowing us to make those savings available to you. We do all the work and comparison shopping so you don't have to. Then we'll explain your options, and let you decide what's best for you and your family.
We are mortgage brokers, and we work directly with different lenders to find you the best loan program and rate available. These lenders offer SC Home Loans wholesale rates not available to their retail customers, allowing us to make those savings available to you. We do all the work and comparison shopping so you don't have to. Then we'll explain your options, and let you decide what's best for you and your family.
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The minimum credit score to be able to qualify for a mortgage in today's market is now a 580 middle credit score.
If you feel that your current credit rating may not be high enough to qualify for a loan, there are many steps you can take to improve your rating within 3-6 months.
You can run your Transunion & Equifax credit scores for free at www.creditkarma.com.
For full details on all accounts you can also obtain a free credit report at freeannualreport.com.
Reduce your monthly payments by paying off debt with high payment to balance ratios.
If you feel that your current credit rating may not be high enough to qualify for a loan, there are many steps you can take to improve your rating within 3-6 months.
You can run your Transunion & Equifax credit scores for free at www.creditkarma.com.
For full details on all accounts you can also obtain a free credit report at freeannualreport.com.
Reduce your monthly payments by paying off debt with high payment to balance ratios.
A conventional loan is a mortgage that is not guaranteed or insured by any government agency, including the Federal Housing Administration (FHA), the United Stated Department of Agriculture (USDA) and the Department of Veterans Affairs (VA).
It is typically fixed in its terms and rate.
A government-backed loan is a loan subsidized by the government, which protects lenders against defaults on payments, thus making it a lot easier for lenders to offer potential borrowers lower interest rates.
Its primary aim is to make home ownership affordable to lower income households and first-time buyers.
It is typically fixed in its terms and rate.
A government-backed loan is a loan subsidized by the government, which protects lenders against defaults on payments, thus making it a lot easier for lenders to offer potential borrowers lower interest rates.
Its primary aim is to make home ownership affordable to lower income households and first-time buyers.
Q: What is Fannie Mae?
A: Fannie Mae guarantees and purchases loans form mortgage lenders to make sure families can buy, refinance and rent a home.
They also help families avoid foreclosure.
Fannie Mae is a government sponsored enterprise, but is privately owned.
It receives support from the Federal Government.
The main function is to provide liquidity to the nation's mortgage finance system.
Fannie Mae purchases home loans made by private firms (providing the loans meet the requirements), package those loans into mortgage-backed securities and guarantee timely payment of principal and interest on those securities to outside investors.
A: Fannie Mae guarantees and purchases loans form mortgage lenders to make sure families can buy, refinance and rent a home.
They also help families avoid foreclosure.
Fannie Mae is a government sponsored enterprise, but is privately owned.
It receives support from the Federal Government.
The main function is to provide liquidity to the nation's mortgage finance system.
Fannie Mae purchases home loans made by private firms (providing the loans meet the requirements), package those loans into mortgage-backed securities and guarantee timely payment of principal and interest on those securities to outside investors.
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