Current South Carolina Mortgage Rates
Quick Mortgage Definitions / Terms / Facts
What is Loan-to-Value?The loan-to-value is your loan amount divided by your property value. For example, the loan-to-value on a $100,000 house with a $75,000 loan amount is 75%.
Who are "Fannie Mae" and "Freddie Mac"?
Fannie Mae, also known as the Federal National Mortgage Association FNMA and Freddie Mac, also known as the Federal Home Loan Mortgage Corporation FHLMC, are government-sponsored enterprises GSE that buy mortgages from lending institutions in the secondary market; both operate as publicly traded corporations.
First Steps to Getting a Mortgage?
Get a Free Credit Report!The first step to getting a mortgage is to know your credit score. Understanding your credit report is a critical part to getting your mortgage. Raise your score while you shop for your home to get the lowest rate at closing, with a few easy steps you can easily raise your score in within a few months.
