What Are Physician Loans in South Carolina and Are They the Best Choice?

Charleston South Carolina Physicians

South Carolina is an attractive state for doctors to practice in as well as a great place to do a residency for medical students. The Charleston area, in particular, is home to the Medical University of South Carolina, the oldest medical school in the South and one of the best in the nation. This beautiful campus trains more than 3,000 students and 850 residents and fellows in six colleges each year. However, while medicine is a wonderful field, recent graduates and even experienced doctors may find themselves in a predicament regarding home loans: even with high salaries, their student loans are also high, making it hard...

Mortgage Broker vs Mortgage Lender in Charleston, SC

Money back with Mortgage written on it with green Charleston model home

Are you ready to apply for a mortgage loan and begin the hunt for your Charleston dream home? If yes, then you are faced with a weighty decision. You have to choose between the two main providers of mortgage financing, namely, mortgage brokers and mortgage lenders. Generally, it was quite common in the past for prospective home buyers to turn to their banks for their mortgage needs. Today, there exist more options than ever before as the growing presence of mortgage brokers has become far more noticeable. To help you choose wisely, this write-up outlines what you need to know...

Types of Mortgages Offered in Charleston, SC

Woman holding model of Charleston South Carolina Home with Cash Underneath

When our parents were buying their first home, there was only one way to finance the purchase. They went down to the corner bank and asked for a 30-year mortgage. That was it. It was common to stay in the same house for the entire 30 years and they celebrated the final payment. It’s just not the way financing works today. 

First of all, it’s unusual for someone to keep a mortgage for 30 years. The average homeowner moves every 5-7 years. Even paying off a mortgage might not be desirable as it’s one of the few tax breaks still available to the average...