For those who prefer to enjoy life in a warm coastal state, rich in history with beaches and mountainous regions, South Carolina offers an excellent place to live. From Myrtle Beach to the Old Slave Mart Museum, there are many diverse communities in the state, explaining why so many are proud to call South Carolina home.

There are a variety of options for home loans in South Carolina, many of which can be investigated by contacting the South Carolina State Housing Finance and Development Authority. The SCSHFDA has various programs that can look at a home buyer's specific situation and work with them to find the best possible home mortgage rates for either a new home or mortgage refinancing.

First time home buyers, or those who have not owned a home in three years, may qualify for down payment assistance. Depending on the borrowers income level down payment assistance of up to $4,000 can be paid back to the lender with low mortgage interest rates. For those who make less than 80% of the median income, that $4000 down payment assistance is forgivable. Single parent as well as disabled home buyers are offered the same down payment assistance whether they are first time home buyers or not.

South Carolina residents that work in service industries including police officers, teacher, nurses, firefighters and EMS workers, as well as those who have served full time in the military may qualify for the Palmetto program which also offers assistance with closing costs or down payment assistance.

Of course, the best mortgage rates are offered to those with good credit. Some lenders may still lend to those whose credit is not as good. Some of those borrowers may be required to attend high cost home loan counseling which will give them the opportunity to learn to better manage their finances as well as educated them on how to deal with the various expenses involved in home ownership.

There are a wide range of homes available for sale in South Carolina in both rural and urban areas that are sitting there looking for the perfect buyer. There are also many mortgaging refinancing opportunities that may help home buyers reduce their monthly payments by converting an Adjustable Rate mortgage or higher interest fixed mortgage into a lower fixed rate. Talking to a qualified realtor will help prospective buyers find the right path for them.