Columbia SC Home Loans

Obtaining Financing and getting pre-approved is the most important part of buying Columbia SC real estate. Whether buying a single family home, condo or an investment property, it is crucial to get pre-approved. Obtaining financing is the first step in buying real estate. The two main factors lenders use to determine whether to loan you money are your ability and your willingness to repay the loan. The ability is measured by your income and assets while your willingness is measured by your credit history. 

Pre-approval:

• Informs the buyer of whether or not they qualify for a home loan

• Educates the buyer about potential problems with credit or income

• Identifies the target price range of homes to view

• Informs the buyer of their approx. house payment

• Educates a first time home buyer

• Many sellers require a pre-approval letter when considering an offer to purchase

                     Contact: Ingrid C Lee

call/text @ 803-665-3765 or Email IngridCLee@gmail.com

Click Here to Get Pre-Approved Now

Types of Loans

• FHA Loan - 3.5% down payment required. Insured by the federal government.

• Conventional Loan - any loan that is not backed by the federal government. These loans typically require a larger down payment.

• VA Loan - 100% financing for United States Veterans.

• USDA Loan - 100% financing for rural areas. Check income guidelines and property eligibility.

• Commercial Loan - loan for commercial real estate. Typically requires 20% down payment

• FHA Condo loans - Columbia SC Condo financing can be tricky. Be sure to inquire as to available loan types when talking with your Realtor.        

           

Columbia SC Foreclosures