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HomeMortgagePrime Mortgage Lenders in South Carolina

Prime Mortgage Lenders in South Carolina

It’s time to take a look at the highest mortgage lenders in South Carolina, primarily based on who did probably the most enterprise.

Final yr, greater than 1,000 mortgage corporations collectively funded greater than $80 billion in house loans within the state.

However one specific firm did much more enterprise than the remainder, and likewise occurs to be the highest mortgage lender within the U.S.

Sure, I’m referring to Rocket Mortgage (previously Quicken Loans), almost doubling the amount of their nearest competitor.

Learn on to see which different corporations dominated the mortgage biz in The Palmetto State.

Prime Mortgage Lenders in South Carolina (General)

Rating Firm Title 2021 Mortgage Quantity
1. Rocket Mortgage $5.0 billion
2. Wells Fargo $2.8 billion
3. Pennymac $2.5 billion
4. Freedom Mortgage $2.2 billion
5. Truist $2.1 billion
6. SouthState Financial institution $1.9 billion
7. Motion Mortgage $1.9 billion
8. Guild Mortgage $1.6 billion
9. UWM $1.5 billion
10. Newrez $1.5 billion

Coming in first each in South Carolina (and nationally) was none aside from Rocket Mortgage with $5.0 billion funded in 2021, per HMDA knowledge from Richey Might.

As famous, that was almost double second placed-Wells Fargo, which managed simply $2.8 billion in the course of the yr.

In a considerably shut third was Pennymac, a principally correspondent lender that originated $2.5 billion.

Fourth went to Boca Raton-based Freedom Mortgage with $2.2 billion, whereas Charlotte-based Truist took fifth with $2.1 billion.

One other Florida-based financial institution, SouthState Financial institution, snagged sixth with $1.9 billion, adopted by South Carolina’s personal Motion Mortgage in seventh ($1.9B).

The remainder of the highest 10 included Guild Mortgage, United Wholesale Mortgage, and Newrez.

Just one hometown firm within the record, however many adjoining states like Florida and North Carolina.

Prime South Carolina Mortgage Lenders (for Residence Consumers)

Rating Firm Title 2021 Mortgage Quantity
1. Pennymac $1.4 billion
2. Motion Mortgage $1.4 billion
3. Wells Fargo $1.2 billion
4. SouthState Financial institution $1.1 billion
5. Guild Mortgage $1.0 billion
6. Rocket Mortgage $997 million
7. Truist $912 million
8. TD Financial institution $834 million
9. AmeriHome Mortgage $818 million
10. Newrez $773 million

The record modifications fairly a bit after we focus solely on house buy loans, with Pennymac grabbed the highest spot with $1.4 billion funded.

They had been adopted intently by Indian Land-based Motion Mortgage with an identical $1.4 billion in mortgage origination quantity.

Wells Fargo took third with $1.2 billion, adopted by SouthState Financial institution with $1.1 billion, and Guild Mortgage with $1 billion.

Rocket Mortgage dropped to sixth with $997 million funded, adopted by Truist with $912 million.

TD Financial institution, AmeriHome Mortgage, and Newrez rounded out the highest 10. Once more, just one SC-based mortgage firm.

Prime Refinance Lenders in South Carolina (for Current Owners)

Rating Firm Title 2021 Mortgage Quantity
1. Rocket Mortgage $4.0 billion
2. Freedom Mortgage $1.8 billion
3. Wells Fargo $1.4 billion
4. Pennymac $1.2 billion
5. Truist $1.0 billion
6. loanDepot $978 million
7. UWM $871 million
8. Mr. Cooper $846 million
9. Newrez $735 million
10. SouthState Financial institution $733 million

As soon as the record is filtered to solely embody mortgage refinances, Rocket Mortgage trounces the competitors with $4.0 billion funded.

That was greater than double second positioned Freedom Mortgage ($1.8 billion), and greater than triple third positioned Wells Fargo ($1.4 billion).

About 80% of the Detroit-based firm’s mortgage quantity consisted of refis within the state of South Carolina.

Fourth went to Pennymac with $1.2 billion, whereas fifth place was captured by Truist with $1.0 billion funded.

The remaining spots within the high 10 went to loanDepot, UWM, Mr. Cooper, Newrez, and SouthState Financial institution.

The Finest South Carolina Mortgage Lenders

Essentially the most reviewed mortgage lender on Zillow within the state of South Carolina occurs to be Motion Mortgage.

In addition they have a stellar 4.98/5 score from about 18,000 buyer critiques. That makes them a reasonably highly-rated mortgage firm within the state, doubtlessly one of the best.

In the meantime, Rocket has a 4.48/5, Wells Fargo has a 4.95/5, Freedom Mortgage has a 4.85/5, and Pennymac has a 4.4/5.

Many smaller, SC-based mortgage corporations didn’t make the lists above, however nonetheless personal wonderful rankings on Zillow.

They embody Columbia-based Lending Path Mortgage (4.97/5) and Basis Mortgage Corp. (4.97/5), together with Charleston-based Tabor Mortgage Group (4.94/5).

And there are various different SC mortgage corporations, together with SC-based mortgage brokers, which additionally present wonderful service.

Take the time to take a look at corporations each massive and small, and look past actual property agent referrals and family names. You may discover a hidden gem.

(picture: Mark Clifton)



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