Conventional Loans in South Carolina
Conventional loans aren't backed by a government program. With solid credit they're often the most cost-effective option over the life of the loan, and the mortgage insurance drops off once you reach 20% equity. Across South Carolina, vetted brokers and lenders on LowestMortgage.com compete for your business — so you compare real offers and pick the person, not just the rate.
Key features
- Down payments from 3% for qualified buyers
- PMI cancels automatically at 20% equity
- Available for primary, second, and investment properties
- Often cheaper than FHA over time with strong credit
Conventional Loans across South Carolina
Find conventional loans and local brokers in these South Carolina markets:
2026 conforming loan limits in South Carolina
The conforming limit is the largest one-unit loan Fannie Mae and Freddie Mac will back. These are the 2026 figures for South Carolina's major markets:
$832,750
2026 one-unit limit across South Carolina's major markets
Source: HUD 2026 forward-mortgage limits and FHFA 2026 conforming loan limit values. Limits are higher for 2–4 unit properties; South Carolina counties outside these metros use $832,750. Confirm current figures with your broker.
Conventional Loans FAQ
How much do I need to put down on a conventional loan?
As little as 3% for qualified first-time buyers, though 5–20% is common. More down means lower payments and, at 20%, no PMI.
When does PMI go away?
On conventional loans, PMI automatically terminates once your loan balance reaches 78% of the original value, and you can request removal at 80%.
Conventional or FHA — which is cheaper?
With strong credit, conventional is usually cheaper over time because PMI ends. With lower credit, FHA may be more accessible. Comparing real offers is the only way to be sure.
Compare conventional loans in South Carolina
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