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.

VA IRRRL vs. Conventional Refinance: Which Is Right for You?

If you’re a veteran homeowner in South Carolina looking to refinance, you likely have two strong options: the VA IRRRL and a conventional refinance. Each has its advantages, and the right choice depends on your situation. Before deciding, it’s also worth understanding when it makes sense to refinance in the first place.

What Is the VA IRRRL?

The VA IRRRL is a streamlined refinance option exclusively for veterans with an existing VA loan. It’s designed to be fast and simple: no appraisal, no income verification, and a reduced VA funding fee of just 0.5%. Review the full VA IRRRL requirements in South Carolina to see if you qualify.

What Is a Conventional Refinance?

A conventional refinance is available to any homeowner, regardless of loan type. It requires an appraisal, income verification, and typically a credit score of 620 or higher. It’s the right choice when you want cash out or need to drop FHA mortgage insurance.

Side-by-Side Comparison

Feature	VA IRRRL	Conventional Refi
Eligibility	Must have existing VA loan	Any qualified borrower
Appraisal	Usually not required	Required
Income Verification	Usually not required	Required
Credit Score Minimum	No VA minimum (lender overlays apply)	Typically 620+
Cash-Out Option	No	Yes
Remove PMI	N/A (no PMI on VA)	Yes, if equity ≥ 20%
Funding/Insurance Fee	0.5% funding fee	No funding fee
Closing Speed	Often 30 days or less	30–45 days typical
Underwater Properties	May still qualify	Equity required

When to Choose the VA IRRRL

You currently have a VA loan
You want the fastest, simplest path to a lower rate
You don’t need cash out
Your home may have declined in value (no appraisal means no equity requirement)
You want to minimize closing costs and paperwork

Also check: How soon can you refinance a VA loan?

When to Choose a Conventional Refinance

You want to access home equity — see cash-out refinance vs. VA IRRRL
You’re currently on an FHA loan and want to drop mortgage insurance
You want to shorten your term from 30 to 15 years
You have a non-VA loan and strong equity/credit
You want to convert from adjustable-rate to fixed-rate

What About the Break-Even Point?

Regardless of which option you choose, always calculate the break-even point on a refinance to make sure the math works for your timeline. Also factor in refinance closing costs in South Carolina.

Will It Hurt My Credit?

Both refinance types require a hard credit inquiry. Read our full guide: Does refinancing hurt your credit score?

Not sure which path is right for you? We’re local, licensed in SC, and happy to walk you through the numbers.

Get My Free Refinance Quote →