South Carolina VA Loan

South Carolina is home to a number of military bases and has a rich naval and marine history. At the present time there are more than 38,000 active duty military personnel in the state, living primarily on bases like Fort Jackson and Charleston AFB. There are an additional 400,000+ Veterans in the state. Many of these veterans are the recipients of VA Mortgages, who have settled in the beautiful Oceanside state to raise their families.

Major cities like Charleston, Columbia, and Rock Hill are full of military families who have used VA mortgages to finance their dreams. These loans were created in 1944 as part of the original Servicemen’s Readjustment Act with the needs and interests of Military families in mind. They are government subsidized allowing for now down payment and flexible credit requirements.

Some of the benefits of VA mortgages in South Carolina include high limits, low interest rates, the possibility of forbearance if needed. Furthermore, the credit requirements are some of the most relaxed in the nation, making it easy for Veterans to finance a home at a decent interest rate, even if they do not have a perfect or long-standing credit history. South Carolina VA loans can be used to buy and refinance homes. Many foreclosed homes qualify for purchase with a Veteran benefit.

In addition to helping applicants to acquire a budget-friendly mortgage, the VA orders an appraisal as part of the application process for those who are eligible. The only thing the VA does not do is guarantee a home is free from defects; this is the responsibility of the buyer. The buyer has free range to select the home that they wish to purchase with the VA money, as well as the option to hire an outside inspector before making a purchase.

Fill out the short form to the right and a VA Specialist will contact you to discuss your options for getting a VA Mortgage in South Carolina.