Homeowners who think they can't refinance their real estate mortgage because of a low FICO score or bad credit, need to think again. FHA loans are backed by the Federal Housing Administration and have somewhat more flexible requirements than conforming loans do. Many mortgage companies in South Carolina will approve borrowers for an FHA loan with credit scores below the 620 cutoff for conforming loans and SC borrowers with lower credit scores can often get better mortgage rates with an FHA loan than they can on a conforming loan.
All South Carolina mortgage licenses are handled through the National Mortgage Licensing System Prelicensing requirements include approved courses that are 20 or more hours and contain 3 hours of Federal Law, 3 hours of Ethics, 2 hours of Non-traditional Mortgage Lending plus 12 or more hours of electives.



A mortgage loan originator shall pay a nonrefundable renewal fee of one hundred twenty-five dollars ($125.00) plus the actual cost of obtaining credit reports and State and national criminal history record checks and processing fees for the Nationwide Mortgage Licensing System and Registry as the Commissioner shall require.
Purchase Commercial Property You will need to pay a deposit of up to $1,000 when accepting the terms of any deposit is nonrefundable, unless the loan va home loan cap closes or the line of credit opens, in which case the unused portion of the deposit (if any) will be returned or credited to you after closing.

Other requirements include that the seller qualify the buyer with a minimum of credit report and income verification on record, and the loan must be have a fixed interest rate or a "reasonable" adjustable rate that does not increase for at least the first five (5) years of the loan term.
In addition to the nonrefundable renewal fee, a mortgage support registrant shall pay the actual cost of obtaining credit reports and State and national criminal history record checks and processing fees for the Nationwide Mortgage Licensing System and Registry as the Commissioner shall require.

In accordance with the terms of state laws, the surety bond must be deposited with the Administrator of the S.C. Department of Consumer Affairs as security in the event that the bonded mortgage broker or lender fails to comply with the Licensing of Mortgage Brokers Act, S.C. Code § 40-58-10 et seq.