Jumbo Home Loans in South Carolina

When the mortgage you need exceeds conventional loan guidelines.

 If you need a Jumbo Loan in SC you have found the right place. BrickWood Mortgage has close to two decades of experience helping home buyers purchase or homeowners refinance with Jumbo Loan products. Whether it’s Myrtle Beach, Market Commons, Carolina Forest, DeBordieu, Charleston, or Mount Pleasant we can help you.

Why is it Important to Choose the right South Carolina Mortgage Company

Whenever you choose a specialized product you should consider a specialized lender. Our experienced team of Loan Officers will shorten the processing time and to facilitate a quick closing. Time is money and with rising rates it’s even more imperative to close quickly on a jumbo loan. We have you covered and have the track record to back it up. 

We have a 5 Star rating

Here at BrickWood Mortgage we have an outstanding reputation in the Grand Strand and that shows in our ratings. We make sure that we exceed your expectations in a process that most customers dread. We keep open lines of communication and walk through the entire Jumbo Loan process together.  You can rest easy at night knowing your Jumbo Loan is in our hands at BrickWood Mortgage.

What are some things to know about Jumbo Loans – SC

Benefits 

The advantage of the jumbo loan is that it can help you finance a higher priced piece of real estate. If you live in a high cost housing market or want a more expensive home a jumbo loan can help you accomplish this. 

What is considered a Jumbo Loan

Currently $647,200 for a single-family home in South Carolina. That was raised from $548,250 in 2021. The cause of this was skyrocketing home prices and giving the consumer more buying power. 

Application

The application process for a jumbo loan is similar to that for any mortgage application. You’ll fill out an application, agree to a credit check and submit the required financial documentation. This usually will include tax returns, W-2’s, paystubs and bank statements. One of our highly qualified Loan Officers will let you know what else may be needed for your specific situation.

Eligibility

Because jumbo loans are riskier than other mortgages you will need to be well qualified- meaning have good credit scores, manageable monthly debts, solid income, and in the case of a purchase, a decent amount of money to put down. Most of the time 20% down is required however there can be programs that require as little as 10%. 

 

Cash Reserves

Generally at least 6-12 months of future mortgage payments must be in the bank before you can be approved for a jumbo loan. (This can’t include any of the funds designated for the down payment or closing costs).

Refinancing a jumbo loan

You can refinance a jumbo loan just as any other type of mortgage. Depending on how much your loan amount is you can even refinance from a jumbo loan into a conforming loan. 

 

Where can I get the best rates on a Jumbo Loan

The answer to this is simple. Call the BrickWood Mortgage experts at (843) 314-4101. Our clients come to us for JUMBO loans to make sure they get the best deal or lowest rate for their situation, discuss options and get a step closer to their South Carolina Jumbo dream homes.