Find Your Home
with Confidence.

Minimum Scores by Loan Type

How to Improve Your Score

• Pay every bill on time — one 30-day late payment can drop your score 50–100 points
• Keep utilization under 30% — credit card balance vs. limit. Under 10% is ideal
• Don’t close old accounts — length of history matters. Keep your oldest cards open
• Limit new credit applications — each hard inquiry can lower your score 5–10 points
• Dispute errors — get free reports at AnnualCreditReport.com. Errors are common

The True Cost of Homeownership

Upfront Costs to Save For

• Down payment: 3–20% of purchase price depending on loan type
• Closing costs: Typically 2–5% of the loan amount
• Emergency fund: Keep 3–6 months of expenses saved after closing
• Moving costs: $500–$3,000 depending on distance

What Lenders Look At

• Income: W-2 employees need 2 years of employment history. Self-employed need 2 years of tax returns.
• Debt-to-Income (DTI): Most loans allow a maximum 43–50% DTI. Calculate yours: monthly debts ÷ gross monthly income.
• Assets: Down payment funds need to be documented and “seasoned” (in your account 60+ days).
• Employment: 2+ years in the same field. Job gaps require explanation.

South Carolina Programs

• SC Housing Homebuyer Program: Low fixed-rate mortgages plus down payment assistance for qualifying buyers. Visit schousing.com.
• SC Housing Forgivable DPA: Up to 4% of loan amount, forgiven after 10 years if you remain in the home.

Georgia Programs

• Georgia Dream Homeownership Program: $7,500 in down payment assistance ($10,000 for public servants). Visit dca.ga.gov.
• Georgia Dream PEN Loan: $10,000 for Protectors, Educators, and Nurses.

Down Payment at a Glance

Building Equity Over Time

• Appreciation: As property values rise, your equity grows. SC and GA markets have shown strong appreciation.
• Principal paydown: Every payment reduces your loan balance and increases your ownership stake.
• Forced savings: Unlike rent, every payment increases your net worth.

Tax Benefits

• Mortgage Interest Deduction: Deduct interest on mortgages up to $750,000.
• Property Tax Deduction: State and local property taxes are deductible (subject to $10,000 SALT cap).
• Capital Gains Exclusion: Exclude up to $250,000 ($500,000 married) of profit when you sell.