Mortgage Equity Partners of South Carolina
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What is a cash-out refinance? A cash-out refinance can provide a valuable solution if you're a South Carolina homeowner with sufficient equity and some debt to pay off. A cash-out refinance is a home loan that allows you to refinance your existing mortgage while taking out additional cash beyond your loan balance if …
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Reverse mortgages have become an increasingly popular option for older adults in South Carolina to use as a strategic financial tool for retirement. Reverse mortgages, also known as Home Equity Conversion Mortgages (HECM), are still a somewhat misunderstood mortgage product; however, if appropriately used, a reverse …
Are you planning to buy a home in a rural area of South Carolina? If so, you may be eligible for a USDA loan. A USDA loan is a mortgage loan program backed by the United States Department of Agriculture (USDA) and offered through lenders like Mortgage Equity Partners to help individuals living in rural and some …
First-time homebuyers in South Carolina have something to celebrate. The South Carolina Housing Finance and Development Authority’s Homebuyer Program offers down payment assistance to first-time homebuyers. The program provides up to $8,000.00 for eligible borrowers to be used to pay for a down payment and closing …
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What are Non-QM loans? Non-QM loans are for borrowers ready to buy a home but may not qualify by traditional standards. When applying for a mortgage, you will either apply for a “QM” or a “Non-QM” loan. A qualified mortgage (QM) is a mortgage that meets specific requirements for lender protection and secondary market …
What are the most common loan types? When buying a home in South Carolina, finding the right type of mortgage is critical. With so many options available, from 30-year fixed-rate loans to adjustable-rate mortgages (ARMs), Government loans, and other loans for non-traditional borrowers, it's easy to feel overwhelmed. …
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