SouthState Mortgage Banker reviewing loan options

Homebuying 101

Shop For Your Home With Confidence

Whether it's your first time purchasing or you're looking for a refresher, we have the tools you need.

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First Time Purchasing a Home?

You’re a first-time homebuyer so you have more than a few questions. Good news, we are here to answer those questions and walk your through the process and ensure no "T" goes uncrossed. We have resources designed specifically for you to learn about the homeownership journey. Learn the important steps you can take before starting the house hunt that will ensure the whole home buying process goes smoothly.

The Loan Process

Pre-qualifying is a great place to start the mortgage process. It allows you to know the loan amount you qualify for before starting the house hunt. A few other things to keep in mind when starting the search:
  • Figure out a savings plan for a down payment
  • Check your credit score
  • Don’t take on new debt
  • Make sure bills are paid on time
  • Clear up financial disputes no matter how old or small
Learn more about the rest of your homeownership journey here.
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Refinancing May Be Right For You

Depending on your current mortgage, refinancing could be very beneficial. Refinancing may enable you to:
  • Reduce your interest rate and monthly mortgage payment
  • Change from an Adjustable Rate Mortgage to a Fixed Rate Mortgage
  • Access the equity in your home
  • If applicable, eliminate or reduce private mortgage insurance
Our Mortgage Bankers can recommend refinancing options that will get you closer to your goals.
Are You Ready to Move?

Are You Ready to Move?

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Home Affordability Calculator

Find out how much home you can afford to purchase.
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Mortgage Calculator

Find out your mortgage payment.
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Rent vs. Own Calculator

Find out if it makes sense to purchase a home.
Have Questions About Home Loans?

Have Questions About Home Loans?

View All FAQs

The home you can afford is based on the amount of mortgage loan you can comfortably support. Generally, the amount of mortgage you qualify for is based on some basic information such as: your income, debts, assets, credit history, current employment situation, and any other obligations you may owe. Another factor that will impact the amount of home you can afford is how much cash is required for down payment and closing costs.

Try our “How Much Home Can I Afford?” calculator to get an estimate and see how much you can potentially afford.

Establish your budget and determine how much you can afford to spend on your new home by getting pre-approved. Taking this action before shopping ensure that you are shopping for a home with a list price that you are comfortable with when it is time to make an offer.

First-time home buyer programs are for individuals who meet certain income requirements, who are financing property in certain census tracts, or who meet other special requirements. We participate in special loan programs throughout the state and USDA Rural Housing Loans. Benefits include:

  • Lower down payments than most other financing options so you will not need as much cash to buy a home.
  • Competitive interest rates.
  • Reduced closing costs and mortgage loan fees.

Other restrictions may apply. 

Generally, you must complete a full mortgage application in order to lock a rate. You can work with your loan originator to discuss your mortgage options. He or she will also help you complete the application and lock in a rate when you are ready.

Closing costs generally range from 2% to 3% of your loan amount. Closing costs can be divided into three main categories:

  • Lender fees. Fees can include origination and points.
  • Third-party fees. These fees vary by state and the attorney you select to close your loan. They can include attorney’s fees for closing, title exam, credit report, appraisal, title insurance and recording.
  • Prepaid items. These are items collected at the time of closing but are not really considered costs including interim interest, taxes, and hazard insurance.

You will be provided with an estimate of your closing costs soon after your application has been received. These estimates could change if you change the product type or loan amount.

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  • All loans are subject to credit approval. 

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