South Carolina Conventional Loan With Numbers That Hold Up
A South Carolina Conventional Loan can run with as little as 3% down for qualified buyers. We model conforming limits, PMI math, and rate options against your file upfront. The path forward reflects what you can afford - not what fills our pipeline.
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Why South Carolina Buyers Pick Conventional Financing
South Carolina 3% Down Options Explained
Conventional 3% is real - qualification matters more than the headline. HomeReady (Fannie Mae) and Home Possible (Freddie Mac) both reach 3% - we verify eligibility.
Rate Math for South Carolina Buyers
Comparing conventional vs FHA properly means including mortgage insurance. We model all programs side by side on your file, never assume conventional wins.
South Carolina PMI Ends at 78 Percent LTV
PMI applies under 20% down but expires at clear thresholds. Auto-cancels at 78% original value, or earlier at 80% current value via appraisal.
Our Rates For You
CONV 30 Year Purchase
Rates and APR shown are based on a $350,000 loan amount, 850 credit score, primary residence, single family home, 75% loan to value ratio, and owner occupied property. Payment example assumes no other liens on the property and includes principal and interest only. Taxes, insurance, mortgage insurance, and escrow items are not included and will increase the actual payment. Rates, APR, and points are subject to change without notice and may vary based on credit profile, property type, occupancy, loan to value, loan amount, and other qualifying factors. Not all borrowers will qualify.
The South Carolina Conventional Process
Why South Carolina Buyers Win With Conventional
South Carolina Loan Size Math
The conforming limit from FHFA caps conventional loan size. Most purchases stay within conforming. We confirm your target's position - conforming, high-balance, or jumbo - before quoting. The tier affects rate and program rules.
South Carolina Conventional Term Choices
Fixed terms (30, 15) and ARM structures (5/6, 7/6, 10/6) both available. Long stays favor fixed. Move within 5-7 years often favors ARM. We model both on your specific timeline before any recommendation.
South Carolina Conventional Across Property Categories
Conventional financing fits primary, second, or investment property. Each type has its own rules: 3% primary for qualified buyers, 10% minimum on second home, 15-25% on investment with rate adjustments applied.
$810M
18 Years
27500+
Conventional vs Other Loans
Conventional
FHA
VA
USDA
For homes beyond standard loan limits.
High value homes should not mean high stress financing. A conventional loan with jumbo options offers competitive rates, simple terms, and a clear path to purchase without compromise.
What could you afford with a conventional loan
Before you fall for a listing, see how the math feels. Use the calculator to test price, down payment, and taxes for your county. You will know what is comfortable before you schedule tours.
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A South Carolina Conventional Loan runs on Fannie Mae or Freddie Mac rules, funded by private lenders. Your credit, down payment, and DTI drive terms. The 30-year fixed is the most common South Carolina structure.
Down payment starts at 3% for qualified first-time and repeat buyers. Standard conventional needs 5%. 20% drops PMI. We model multiple down payment tiers on your file so the decision uses real dollars, not rules of thumb.
620 is generally the conventional credit minimum. Lender overlays may set higher minimums at 640 or 660. Below 620, FHA usually wins. We pull credit day one and explain options based on your score.
Automatic cancellation triggers at 78% of original loan-to-value. Earlier cancellation at 80% current value via paid appraisal. Once gone, PMI stays gone - FHA insurance usually lives the loan's life.
Fixed = locked rate forever. ARM = lower start, then adjusts. ARM offers a lower starting rate that adjusts later. Long-term plans favor fixed. Short-term horizons (under 7 years) often favor ARM.
The 2026 baseline conforming limit is $806,500 for single-family homes. Loans exceeding $806,500 fall into jumbo - stricter underwriting, different pricing rules. We confirm where your file lands before quoting.
Conventional handles primary residences, second homes, and investments. Primary at 3% for qualified buyers. Second home: 10% minimum. Investment property: 15-25% down with rate adjustments built in.
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Advertised offers are not guaranteed if you do not continue to meet Oxford Home Lending's criteria and other factors bearing on your creditworthiness. Rates will vary depending on your loan term, loan type, credit profile & score, down payment, qualifying ratios, and property collateral. Monthly payments do not include property taxes, property insurance, and homeowners' association dues. Since costs can vary based on a loan program, closing costs are not shown in the examples. To qualify for a mortgage, borrowers must be U.S. citizens or permanent residents, and meet Oxford Home Lending's underwriting and Investor requirements. Interest rate examples are as of 03/03/2026 and subject to change without notice. All loans are subject to underwriting or investor approval. Other restrictions may apply. This is not an offer of credit or a commitment to lend. Rate subject to change depending on time of lock.
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Lower, LLC | NMLS ID# 1124061 | 5950 Symphony Woods Road Suite 312 Columbia, MD 21044 | Equal Housing Opportunity | https://nmlsconsumeraccess.org/ | Not an offer of credit or commitment to make a loan; all approvals are subject to underwriting guidelines including but not limited to acceptable current credit worthiness, income history, debt ratio, etc. Loan programs & options are subject to change at any time. Rates will vary depending on your loan term, loan type, credit profile, down payment, and qualifying ratios. Rates can change daily. Some restrictions may apply. No statement herein should be construed as being made on behalf of any state or federal agency.
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