Buy Your First Home | Jumbo Loans

First steps to buying a home

Establish your team

Your team consists of you, your lender, and your real estate agent. As your lender, we will help you at every step.

Choose a location

There are many factors to consider when choosing your home location: schools, safety, hospitals, commute to work, etc.

Get prequalified

Before searching for a home, get prequalified to show sellers you’re serious about buying.
Learn More

Are you currently renting? See if you can save by owning.

To own a home, some renters simply need help with financing and guidance. Use this guide to learn more about whether or not buying a home is right for you.

Review Our Guide > Rent Vs. Own Calculator >

Why choose South Carolina Federal Credit Union.

We offer competitive rates, personalized service, and we are local.

(843) 569-5145 | Monday - Friday: 8:00am - 6:00pm

Get prequalified

Our prequalification process. We’ll help guide you at every step.

Get prequalified Apply online

Get prequalified

See how much house you can afford before you go shopping.

Learn more View our calculators

Shop and make an offer

Once you find your dream home, it’s time to make an offer.

Learn more about prequalifying

Complete your application

Provide some information about yourself and the property.

Underwriting

Our team will evaluate your application and make a determination.

Closing

Sign all necessary documents and take ownership of your new home!

See what our members have to say about us.

My fiancé and I purchased our first home in June of 2023. Katherine was our loan officer and she was amazing. I highly recommend South Carolina Federal to anyone with a mortgage need!

- Alexis C.

I did a great deal of research first, and found that SC Federal was in the best position to not only get me a great rate, but also to navigate all the other associated costs and concerns. And getting home insurance with Insurance Solutions made it quick and easy to close.

- Mary H.

Estimated Home Cost List

The cost listed below are avarages and estimates. Costs will vary depending on your home location, the type of home and the type of mortgage loan you select.

One time costs during closing

Down payment - 3% or more of the purchase price
Closing cost - 2-5% of the purchase price
Appraisal fee - $600 - $1200 estimated
Inspection fee - up to $300
Lender/processing fee - $1500 (with SC Federal)
Points - 1 point = up to $300
Title Survey - $400
Closing attorney fees - $1500 - $2000
LOL Flood cert, Credit Report, Tax services, and UDM Alert Fees - $100 - $150

Recurring monthly costs for owing a home

Monthly mortgage - Varies. Try our calculator to estimate the cost.
Property taxes - $100 - $300
Homeowner insurance - $100 - $250
HOA fees, if applicable - up to $1000
Private mortgage insurance (only applies if down payment amount is lower than 20% of the purchase price) - based on the loan amount.
Utilities - up to $300
Maintenance and repairs - Depends on your property

These estimates are based on a purchase transaction on a single family primary residence for a loan amount of $375,000 and a purchase price of $500,000; resulting in a loan-to-value ratio of 75%.