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.

Closing Costs in Summerville, SC (2026 Guide)

Understanding closing costs in Summerville, SC starts here. Get a Free Closing Cost Estimate → – Know your real numbers before you make an offer.

What Are Closing Costs in Summerville, SC?

Closing costs are the fees and expenses you pay on top of your down payment to finalize a home purchase. In Summerville, SC, buyers typically pay between 2% and 5% of the purchase price in closing costs. On a $350,000 home, that’s roughly $7,000 to $17,500 — a significant expense that surprises many first-time buyers.

This guide breaks down every closing cost you can expect when buying a home in Summerville, Dorchester County, and the greater Charleston area in 2026.

Average Closing Costs for Buyers in Summerville, SC (2026)

Cost Category	Typical Range
Loan Origination Fee	0.5%–1% of loan amount
Appraisal Fee	$350–$700
Credit Report Fee	$25–$75
Title Search & Insurance	$800–$1,500
Attorney Fee (required in SC)	$500–$1,000
Home Inspection	$300–$600
Homeowners Insurance (1st year)	$1,000–$1,800
Property Tax Escrow (2–3 months)	$600–$1,200
Prepaid Interest	Varies by closing date
Recording Fees	$150–$250
HOA Transfer / Document Fees	$100–$400 (if applicable)
Total Estimated Buyer Closing Costs	$7,000–$17,500

Real Example: Closing Costs on a $350,000 Summerville Home

Purchase price: $350,000 | Down payment (5%): $17,500
Lender fees and prepaids: ~$5,250
Title, attorney, and recording: ~$1,200
Home inspection: ~$450
First-year homeowners insurance + escrow: ~$1,400
Property tax escrow: ~$1,200
HOA document fees: ~$300
Earnest money credit at closing: −$5,000
Estimated cash to close: ~$22,300

These are estimates. Your actual figures will appear on your official Loan Estimate within 3 business days of application.

South Carolina-Specific Closing Costs

Real Estate Attorney Fee (Required)

South Carolina is an attorney-closing state — a licensed real estate attorney must be present at every closing. Budget $500 to $1,000 for this fee, which covers reviewing documents, conducting the title search, and facilitating the closing.

SC Deed Recording Fee (Transfer Tax)

South Carolina charges a deed recording fee of $1.85 per $500 of the property’s value. On a $300,000 purchase, this equals approximately $1,110. This fee is customarily paid by the seller, but it is negotiable. The state receives $1.30 of each $1.85 collected, with $0.55 going to the county.

Title Insurance in Summerville

While not legally required, lender’s title insurance is required by virtually all mortgage lenders. Owner’s title insurance protects you from prior liens, disputes, or errors in the deed. Combined, plan on $800 to $1,500 for both policies in the Summerville area.

Lender Fees Explained

Origination fee: Charged by your lender to process the loan — typically 0.5%–1% of the loan amount. On a $280,000 loan, that’s $1,400–$2,800.
Discount points: Optional prepaid interest to reduce your rate. Each point costs 1% of the loan amount and typically lowers your rate by 0.25%.
Underwriting fee: $400–$900 depending on the lender.
Rate lock fee: Often included, but some lenders charge for extended locks.

Prepaid Costs vs. Closing Costs

Many buyers confuse prepaids with closing costs — both appear on your Closing Disclosure but serve different purposes:

Prepaid interest: Interest owed from your closing date to the end of the month.
Homeowners insurance: First year’s premium paid upfront at closing.
Escrow setup: 2–3 months of property taxes and insurance deposited into your escrow account.

Who Pays Closing Costs in South Carolina?

In South Carolina, the breakdown is generally:

Buyers pay: Lender fees, appraisal, inspection, title insurance, attorney, prepaids, and escrow setup.
Sellers pay: Real estate agent commissions, deed recording (transfer tax), and sometimes a portion of buyer’s closing costs as a concession.

Seller concessions are common in Summerville — especially for new construction or slower markets. You can ask the seller to cover up to 3% (conventional) or 6% (FHA) of your closing costs.

How to Reduce Your Closing Costs

Negotiate seller concessions — Ask the seller to contribute toward closing costs as part of your offer.
Shop lenders — Origination fees and rates vary significantly. Always compare Loan Estimates from at least 2–3 lenders.
Use down payment assistance — SC Housing programs can cover your down payment, freeing up cash for closing costs. Learn about DPA programs in Summerville →
Close at end of month — Reduces prepaid interest owed.
Lender credits — Accept a slightly higher rate in exchange for a lender credit that offsets closing costs.

Closing Costs by Loan Type in Summerville, SC

Loan Type	Unique Closing Cost Considerations
FHA Loan	Upfront MIP of 1.75% of loan amount; seller can contribute up to 6% in concessions
VA Loan	No PMI; VA funding fee (1.25%–3.3% depending on service/down payment); seller can pay all closing costs
USDA Loan	1% upfront guarantee fee; 0.35% annual fee; 100% financing available in eligible Summerville zip codes
Conventional Loan	No upfront MIP; seller concessions capped at 3% (under 10% down); PMI required under 20% down

Not sure which loan saves you more at closing? Get a Free Loan Comparison →

Use Our Cash to Close Estimator

Before your Loan Estimate arrives, use our free calculator to get a ballpark on upfront costs:

→ Cash to Close Estimator

→ Mortgage Payment Calculator

About Your Loan Officer

Matt Doby – Licensed Mortgage Loan Officer, Summerville SC
Edge Home Finance | SC Housing Approved Lender

I help Summerville buyers understand the true cost of homeownership — including every line on your Closing Disclosure — before you ever make an offer. Whether it’s your first home or your fifth, I’ll find the loan program that minimizes your out-of-pocket costs at closing.

Start your pre-approval →

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