What credit score do I need to buy a home in SC or NC?

It depends on the loan program. VA loans have no official minimum (most lenders look for 580+). FHA loans typically require 580 for 3.5% down. Conventional loans usually need 620 or higher.

Can I buy a home with zero down payment?

Yes. VA loans offer 100% financing for eligible veterans and active-duty service members. USDA loans also offer zero-down options in qualifying rural areas of NC and SC.

How long does the mortgage pre-approval process take?

In most cases, we issue a pre-approval within 24 hours of receiving your documents.

What is the difference between FHA and conventional loans?

FHA has lower credit requirements and smaller down payments (3.5%) with MIP for the life of the loan. Conventional requires 620+ but allows mortgage insurance removal at 20% equity.

Do you offer construction loans in South Carolina?

Yes. We offer one-time close construction loans available as VA, Conventional, Investor, and Development programs.

Cash-Out Refinance vs. VA IRRRL: Which One Gets You More?

If you’re a veteran homeowner in South Carolina with equity built up in your home, you have two primary ways to access it or reduce your rate: the VA IRRRL and the VA Cash-Out Refinance (or a conventional cash-out refinance). These are fundamentally different products, and choosing the wrong one could leave money on the table. First, it’s worth understanding when it makes sense to refinance for your situation.

What Is a Cash-Out Refinance?

A cash-out refinance replaces your existing mortgage with a larger loan and pays you the difference in cash. For example, if your home is worth $350,000 and you owe $200,000, you might be able to borrow $280,000 — taking $80,000 in cash for home improvements, debt payoff, or other needs.

Veterans can do a VA Cash-Out refinance up to 90–100% of their home’s value in many cases. Be sure to review the refinance closing costs in South Carolina before proceeding.

What Is the VA IRRRL?

The VA IRRRL is a streamlined rate-reduction tool. It cannot provide cash out — its only purpose is to lower your interest rate or switch from an adjustable to a fixed rate. See full VA IRRRL requirements in South Carolina to check eligibility.

Side-by-Side Comparison

Feature	VA IRRRL	Cash-Out Refi (VA or Conv.)
Provides cash	No	Yes
Appraisal required	Usually not	Yes
Income verification	Usually not	Yes
Rate outcome	Must be lower	May increase
Closing costs	Lower (0.5% fee)	Higher
Purpose	Rate reduction	Equity access
Equity required	No (no appraisal)	Yes

When to Choose the IRRRL

You don’t need cash — you just want a lower rate
You want to close quickly with minimal paperwork
Your home may have decreased in value since purchase
You want to keep your loan balance low

Also see: How soon can you refinance a VA loan? and VA IRRRL vs. Conventional Refinance

When to Choose a Cash-Out Refinance

You need a large sum for home improvements or debt payoff
Your home has significant equity and you want to access it
You’re willing to go through full underwriting
You’re converting from FHA to conventional to eliminate MIP

The Trade-Off: Rate vs. Cash

A cash-out refinance often comes with a higher interest rate than you’d get on a rate-and-term refi. Always calculate the break-even point on a refinance to confirm the numbers work in your favor.

Not sure which product is right for your situation? We’ll walk through both options with you — no obligation.

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