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Mortgage Refinancing In South Carolina

Compare South Carolina refinance rates, costs, terms, and cash-out options with 1st Advantage Mortgage. Apply now.

South Carolina Mortgages Streamlined

Getting a home loan can be a breeze, and guess what? Refinancing can be just as easy. We’ve tweaked the process to make refinancing your home faster and hassle-free.

Types of Mortgages For Homeowners In South Carolina

Not sure what type of Advantage Mortgage you need or what you qualify for? Take a look at the types of home loans we offer, and then get in touch to meet your Mortgage Coach.

Your Mortgage Coach is your personal resource through the loan process, providing guidance to ensure you find the best loan with the right payment options.

Fixed-Rate Mortgage (15 or 30 years)

With a fixed-rate 15 or 30 year mortgage, your interest rate and principal-and-interest payment stay the same for the life of the loan.

Adjustable-Rate Mortgage (ARM)

A lower initial interest rate for a fixed period, after which the rate adjusts on a set schedule. Worth considering if you plan to move or refinance again within a few years.

Cash-Out Refinancing

Replace your current mortgage with a larger loan and receive the difference in cash. Available on conventional, FHA, and VA loans, subject to equity and loan-to-value limits.

FHA Streamline Refinancing

Lower your rate and payment on an existing FHA loan with reduced documentation and, in many cases, no new appraisal.

VA Interest Rate Reduction Refinance Loan (IRRRL)

A streamlined refinance for veterans with an existing VA loan, designed to lower the rate with minimal paperwork and no appraisal in most cases.

Fannie Mae RefiNow

A conventional refinance option for eligible lower-income borrowers with a Fannie Mae loan, offering reduced closing costs and flexible qualifying.

Confused About Refinancing? Don't Worry.

Whether you need to refinance an existing home loan or are considering a mortgage refinance anywhere in South Carolina, 1st Advantage Mortgage has a variety of options that will help you get the results you need.

In addition to our popular urban refinancing options, we also offer refinancing in South Carolina’s rural areas. Our Mortgage Coaches will help you determine the best refinancing option for your specific situation.

See What Our Clients Have To Say About Our Home Loan Services

Our process makes refinancing easier for homeowners in the Carolinas. But don’t just take our word for it – check out our customer reviews to see what they have to say about our mortgage refinancing services.

Helping Homeowners Throughout South Carolina

If you’re not sure what type of refinancing is right for you, get in touch with us. Our Mortgage Coaches in the Carolinas can walk you through the process of refinancing your home, including evaluating your needs and goals so they can match you with the best option for your situation.

South Carolinas Mortgage Experts

But it doesn’t have to be that way: Secure a home loan with 1st Advantage Mortgage, and experience our streamlined, hassle-free lending process.

No matter which type of home loan you choose, our NC & SC Mortgage Coaches will help you get it without the usual frustration.

Refinancing in Fort Mill, Rock Hill, Tega Cay and Indian Land

Most of our South Carolina refinance volume sits in York and Lancaster County, in the belt of towns just over the state line from Charlotte. The four we work in most are all within about 40 minutes of our Uptown office, and all four have seen enough value growth in recent years that homeowners who bought before the last run-up are often sitting on more equity than they realize.

Fort Mill, SC

York County, and one of the fastest-growing addresses in the country. A lot of Fort Mill owners bought new construction with a builder’s preferred lender and a rate buydown that has since expired, which is one of the more common reasons a refinance here actually pencils. Worth checking whether mortgage insurance can come off at the same time.

Rock Hill, SC

York County’s largest city and a wide range of price points, from older neighborhoods near downtown to newer development out toward the interstate. Cash-out refinancing comes up more often here than rate-and-term, usually for renovation on an older home.

Tega Cay, SC

A smaller York County market on Lake Wylie with higher price points, so jumbo refinancing and loan amounts near the conforming limit both come up. Where a balance sits just above the limit, it is sometimes worth paying it down to land underneath rather than pricing it as a jumbo.

Indian Land, SC

Lancaster County, sharing a Fort Mill mailing address, which confuses more than one lender’s system and occasionally the county on a tax record. It is worth getting right, because Lancaster and York County property taxes are not the same and the escrow figure depends on it.

Wherever you are in South Carolina, the officer writing your loan needs a South Carolina license for a South Carolina property. Several of ours hold one, so you are not waiting on one person’s calendar.

Mortgage Lenders In South Carolina

1st Advantage Mortgage is a refinance lender offering mortgage refinance services throughout South Carolina. In addition to serving the Charlotte area,1st Advantage Mortgage also offers mortgage refinancing in Raleigh, Wilmington, Greensboro, and Greenville, SC.

If you're interested in refinancing and aren't sure if 1st Advantage Mortgage serves your area, contact us. We're active throughout the entire Southeast.

Two Things South Carolina Buyers Should Know

South Carolina is an attorney-closing state. A licensed South Carolina attorney has to supervise the closing itself, which is not how it works across the line in North Carolina, and it changes who you are dealing with in the last two weeks. We work with closing attorneys across York and Lancaster County and will introduce you to one if you do not already have somebody.

The other one is the assessment ratio, and it is the difference people miss. A home you occupy as your legal residence is assessed at 4 percent of value. A second home or a rental is assessed at 6 percent. On the same house that gap is large enough to move the monthly payment, so we set the escrow on the ratio that will actually apply to you rather than on the seller’s current tax bill. Quoting from the seller’s bill is the usual reason a South Carolina payment estimate comes in low and then moves at closing.

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Questions

South Carolina Mortgage Refinance FAQs

Why are refinance rates higher?

In most cases, refinance rates are not significantly higher than rates for purchase loans. Refinance rates can vary between lenders, however. Rates and fees can vary between lenders, which can affect the APR (also known as the annual percentage rate, which includes the interest rate, lender fees, and other refinance charges).

Is it cheaper to refinance with my current lender?

It depends. Your current lender and other lenders may present different rates, fees, and credits. Compare written refinance offers to find the best fit for your situation.

Can I refinance my mortgage with no closing costs?

Yes. There are home refinancing options with no closing costs, which are known as "no closing cost refinances." However, while no closing cost refinances may reduce upfront charges, they can shift costs into the rate or loan balance. No closing cost refinances charge you a higher interest rate in order to waive the closing costs, meaning you could end up with a larger overall mortgage bill.

What is the average closing cost to refinance a mortgage?

Closing costs to refinance a mortgage are typically 2% to 5% of your mortgage. Most homeowners pay $3,000 to $5,000 in closing costs to refinance a mortgage.

How does refinancing work with equity?

A borrower needs a certain amount of equity in their home to refinance. Most rate and term refinance are allowed with 5% equity in the home (95% LTV). Others, who do a cash-out refinance, will have at least 20% equity in their homes when they refinance, and they can use the refinancing to cash out on that equity. In some cases, you may lose equity when you refinance. In others, you can use your equity to pay the closing costs for your refinancing. If you're interested in how refinancing will affect your equity, contact our team today. We can help you determine the most likely effect refinancing will have on your equity.

Do I need a South Carolina licensed loan officer to refinance an SC property?

Yes. The officer originating your loan has to hold a South Carolina license for a South Carolina property, no matter where you or the company are based. Several of our officers hold one, so an SC refinance does not sit in a queue behind one person.

Can I refinance a Fort Mill or Indian Land home if I bought with a builder's lender?

Yes, and it is one of the more common reasons to look. New construction is often sold with a preferred lender and a temporary rate buydown, and once that buydown expires the payment changes. There is usually a short seasoning period on the original loan, typically six months, and after that you are free to refinance with anyone.

Are property taxes different across the state line?

Yes, and it changes your escrow rather than your rate. South Carolina assesses owner-occupied property differently from North Carolina, and York and Lancaster County are not the same as each other either. We use the actual county figure for your address when we quote a payment rather than a metro average.

Do you refinance in Greenville and the rest of South Carolina?

Yes. Most of our South Carolina volume is in York and Lancaster County because that is the Charlotte side of the line, but we are licensed statewide and refinance across South Carolina, Greenville included.

Legal information

¹ No-Down Payment Disclaimer: Closing costs and fees may still apply.

² Representative example (conventional, fixed rate): Purchase price $300,000 with a 5% down payment of $15,000 and a loan amount of $285,000. 30-year fixed rate at 6.000% (6.390% APR). 360 monthly principal-and-interest payments of $1,708.72, plus estimated private mortgage insurance of $95.00 per month until the loan balance reaches 78% of the original value (approximately 129 months). APR reflects $1,995 in lender fees, 15 days of prepaid interest, and mortgage insurance. Payment does not include property taxes, homeowners insurance, or HOA dues; your actual payment will be higher. The interest rate is fixed and will not increase. Example dated September 12, 2026, for illustration only. Rates change daily. This is not an offer, quote, or commitment to lend. All loans are subject to credit approval, property appraisal, and program eligibility. Your rate, APR, and payment will depend on your credit, down payment, property, and loan program.

³ Refinancing Disclaimer: When refinancing your mortgage, you can typically reduce your monthly payment amount. However, your total finance charges may be greater over the life of your loan. Your 1st Advantage Mortgage loan professional will provide you with a comprehensive refinance comparison analysis to determine your total life loan savings.

⁴ VA Mortgage Disclaimer: VA home loan purchases offer options for a 0% down payment, no private mortgage insurance requirements, and competitive interest rates with specific qualification requirements. VA Interest Rate Reduction Loans (IRRRL) are exclusively for veterans with current VA loans. Current loan rate restrictions apply, and limits to recoupment of costs and fees apply. VA cash-out refinances are available for veterans with or without current VA loans. Policies and guidelines may vary and are subject to individual borrower(s) qualifications. Program and lender overlays apply.

⁵ Down Payment Assistance Disclaimer: First-lien interest rates may be higher when using a DPA.

⁶ Pre-Approval Disclaimer: Pre-approvals are granted to clients who meet qualifying approval criteria and specific loan requirements at the time of application. Results may vary.

General Disclaimer: The content on this page has not been approved, reviewed, sponsored, or endorsed by any department or government agency.