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Conventional Mortgage Loans

Conventional Mortgage Loans can be used to purchase or refinance your home and there are several loan product options to chose from. The Mortgage Company of South Carolina is qualified to assist you in finding the best option for your particular financial situation. Below you will find a portion of the loan products available with a small description of their key aspects. For more information on these loan products or to get any questions answered contact us today.

To discuss your Reverse Mortgage options -- Call Tim Murphy Today: 843-471-1740 | Mortgage Loan Originator NMLS# 1508452

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Conventional Loans

A conventional loan is a home loan from a private lender that is not government-backed.

  • For Purchase  or Refinancing of a Primary Residence, Second Home, or Investment Property

  • Fannie Mae Loans 

  • Freddie Mac Loans 

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  • For Purchase  or Refinancing of a Primary Residence, Second Home, or Investment Property

  • Fannie Mae Loans 

  • Freddie Mac Loans 

  • Ideal for First Time Homebuyers

  • For Purchase of a Primary Residence

  • Fannie Mae HomeReady

  • Freddie Mac Home Possible

  • Freddie Mac Borrow Smart

  • Income limits May Apply

Affordable lending loans are home loans designed to help low- and moderate-income buyers purchase a home with flexible requirements and lower costs.

Affordable
Lending Loans
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  • For Purchase of a Primary Residence, Second Home, or Investment Property

  • Program using Business Bank Statements for Income Calculations

  • Program using Cash and Investment Assets for Income Calculations

Self-employed loans are home loans designed for borrowers who work for themselves, using alternative income verification instead of traditional W-2 forms.

Self-Employed Loans
Buying an apartment
Jumbo Loans

Jumbo loans are mortgages that exceed conventional loan limits and are used to finance high-priced homes.

  • Large Loan Amounts  

  • For Purchase of a Primary Residence, Second Home, or Investment Property

  • Refinance for Rate and Term Financing to Lower Interest Rate and Payment

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Federal Housing
Authority (FHA) Loans

An FHA loan is a government-backed home loan designed to help people with lower credit scores or smaller down payments buy a home.

  • For Purchase or Refinancing of a Primary Residence

  • Refinance for Rate and Term Financing to Lower Interest Rate and Monthly Payment

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Veterans Administration (VA) Loans

  • For Purchase  or Refinancing of a Primary Residence, Second Home, or Investment Property

  • Fannie Mae Loans 

  • Freddie Mac Loans 

A VA loan is a government-backed home loan available to eligible veterans, active-duty service members, and some military spouses, often with no down payment required.

  • For Purchase or Refinancing of a Primary Residence

  • Full and Partial Entitlement Loans available

  • Refinance for Rate and Term Financing to Lower Interest Rate and Monthly Payment

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Assets for Income Loans

Assets for income loans are loans that use your savings and assets to help qualify you for a mortgage instead of regular income.

  • For Purchase of a Primary Residence, Second Home, or Investment Property

  • No Employment Required

  • Program using Cash and Investment Assets for Income Calculations

  • Can be used to supplement employment income for Loan Qualifications

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Divorce Lending 

Divorce lending refers to mortgage solutions that help individuals buy, refinance, or keep a home during or after a divorce.

  • Cash-out refinance providing funds for home equity buyout

  • Special purpose refinancing rates versus conventional cash-out refinancing

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