Beaufort SC Home Loans: 5 Mortgage Mistakes Locals Avoid by Working with Beaufort Lending

Your loan payment is not the whole cost. Add taxes, home insurance and any flood insurance. Include HOA fees and money for repairs.

Get costs for the home you want. Check Beaufort County taxes and flood risk. The county’s assessment ratio is not the tax rate you pay each year.

Use the same home price, loan amount and down payment. Check the date and how long each rate is held. Ask about points. Points are fees you pay up front to change the loan’s rate.

Read each Loan Estimate, which lists the loan’s terms and costs. Start with Beaufort home loan options, then compare quotes for your plans.

Ask what the lender needs to check about the home. A condo, needed repairs or a rare home type may need extra review. A lender’s appraisal does not replace your own inspection.

Ask about flood risk and insurance early. You may need time to get answers before you commit.

The down payment is only part of the cash you may need. Ask about fees, taxes, insurance paid up front and money you must keep after closing. Find out how a deposit you paid will count.

Using a VA loan? Check the VA fee and closing costs. No down payment does not mean no costs.

Tell the lender when a lease ends or when you must report for duty. Mention a home you need to sell or a builder’s schedule. Ask what is still needed before the loan can close.

Talk to your lender before you open new credit or move large sums of money. Ask what proof you will need for your funds.