FHA mortgage or the 5% down? The best mortgage loans in South Carolina are easier to get than you think. Not long ago FHA was the best mortgage if you were making a small down payment however this is no longer true. FHA has increased its monthly MI charges and upfront charges so it’s a very expensive option. In addition the monthly mortgage insurance lasts for the life of the loan in most cases. Now the best low down payment loan is a 5% down conventional mortgage loan.
At Coastlend Mortgage we have improved the conventional 5% down mortgage by offering it with paid closing costs. We also allow for the entire 5% to be a gift from a relative or qualified entity, and we offer it with NO Mortgage Insurance. Coastlend Mortgage’s 5% Down program will result in the lowest mortgage payment when compared to any other low down payment loans.
For South Carolina home buyers this means better loan options, lower rates, and lower payments for their new homes. Coastlend Mortgage is located in Charleston, South Carolina and does business across the entire state.