Yes: in South Carolina, mortgage loan officers need a state license issued by the Department of Consumer Affairs (mortgage brokers) and State Board of Financial Institutions, Consumer Finance Division (lenders); NMLS. You can check a name yourself on Consumer Affairs Licensee Lookup (mortgage brokers); NMLS Consumer Access.
Mortgage loan officers in South Carolina: what buyers ask
What first-time buyer programs does South Carolina offer?
In South Carolina, SC Housing offers first-time buyers a $10,000 down payment loan that is fully forgiven after 15 years in the home. Its Palmetto Home Advantage program gives 0%, 3% or 4% of the loan amount and has no first-time requirement.
What does an FHA loan require?
FHA loans need 3.5% down with a 580 credit score. Upfront mortgage insurance is 1.75% and the annual premium is 0.55% at 96.5% LTV.
Check a mortgage loan officer yourself
- License required · Department of Consumer Affairs (mortgage brokers) and State Board of Financial Institutions, Consumer Finance Division (lenders); NMLS
- Titles you will see: Mortgage loan originator, Mortgage broker, Mortgage lender
- Check a name yourself: Consumer Affairs Licensee Lookup (mortgage brokers); NMLS Consumer Access
The 4 sectors of Greenville
District 1 · District 2 · District 3 · District 4