A construction loan is a short-term loan that covers the cost of building a new home from the ground up. Unlike traditional mortgages, construction loans release funds in stages—called "draws"—as work progresses. Once construction is complete, the loan is either paid off or converted into a permanent mortgage. If you’re building your dream home near Lake Marion, understanding how construction loans...
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A fixed-rate mortgage keeps your interest rate and monthly payment the same for the life of the loan, while an adjustable-rate mortgage (ARM) starts with a lower rate that can change over time based on market conditions. Choosing the right option depends on how long you plan to stay in the home, your risk tolerance, and your financial goals—especially when buying in areas like Lake Marion, SC. /*!...
A jumbo loan is a mortgage that exceeds the conforming loan limits set by Fannie Mae and Freddie Mac. In most parts of the U.S., including South Carolina, that limit is $766,550 as of 2025. If you’re buying a luxury, lakefront, or multi-million-dollar home near Lake Marion, you may need a jumbo loan to finance the purchase. /*! elementor - v3.23.0 - 15-07-2024...
A VA loan is a mortgage backed by the U.S. Department of Veterans Affairs, available to eligible veterans, active-duty service members, and certain surviving spouses. It offers 100% financing, no private mortgage insurance, and competitive interest rates—making it one of the most powerful home loan programs available in the U.S., including in areas around Lake Marion, South Carolina. /*! elementor -...
A USDA loan is a government-backed mortgage designed to help low- to moderate-income buyers purchase homes in eligible rural areas—including many neighborhoods around Lake Marion. To qualify, you’ll need to meet income limits, property location guidelines, and credit and debt requirements set by the U.S. Department of Agriculture. /*! elementor - v3.23.0 - 15-07-2024...
A conventional loan is a mortgage that’s not backed by a government agency like the FHA, VA, or USDA. These loans typically require higher credit scores and down payments, but they often come with better terms, fewer restrictions, and no upfront government fees. In the Lake Marion area, conventional loans are one of the most popular options for buying primary homes, vacation homes, and investment...
An FHA loan is a government-backed mortgage designed to help buyers with lower credit scores or smaller down payments purchase a home. Backed by the Federal Housing Administration, these loans make homeownership more accessible for first-time buyers and those who may not qualify for conventional loans. In South Carolina—including the Lake Marion area—FHA loans are a popular choice for both primary...
In most real estate transactions, anything that is permanently attached to the home is included in the sale—like built-in appliances, lighting fixtures, and cabinets. However, items like furniture, décor, and outdoor equipment may not be. The key is to confirm in writing what’s included before closing. Don’t leave it up to assumptions—get it clear, get it agreed. /*! elementor - v3.23.0 -...
In South Carolina, down payments typically range from 0% to 20%, depending on the type of loan you use. First-time buyers, veterans, and rural buyers may qualify for little to no money down, while conventional loans often require between 3% and 20%. /*! elementor - v3.23.0 - 15-07-2024 */ .elementor-widget-image{text-align:center}.elementor-widget-image a{display:inline-block}.elementor-widget-image a...
South Carolina is home to some of the most beautiful lakefront lots in the Southeast—including highly sought-after property around Lake Marion. Whether you’re dreaming of a retirement retreat, a custom lake house, or a long-term investment, buying a lake lot is your first step toward waterfront living. /*! elementor - v3.23.0 - 15-07-2024...