Charleston, SC Mortgages

Charleston, SC Mortgages

Charleston is South Carolina's largest and most expensive housing market — a city with Boeing engineers, MUSC physicians, Joint Base Charleston military families, Volvo and Mercedes-Benz Vans workers, and a steady inflow of remote workers from the Northeast all competing in the same submarkets. OpenKey Mortgage Advisors works as an independent broker for Charleston-area buyers, shopping 50+ wholesale lenders to find the right loan for each scenario.

Charleston Mortgage Programs at a Glance

The mix of buyers here means almost every loan program is active. Below are the programs we most often place in the Charleston market — click any of them to read the full details.

• Jumbo Loans — the most common Charleston loan for executive homes above the $832,750 conforming limit. Mount Pleasant, Daniel Island, Downtown peninsula, and Sullivan's Island routinely require jumbo financing.
• Conventional Loans — the workhorse for buyers under the conforming limit. As little as 3% down for first-time buyers, PMI cancels at 20% equity.
• FHA Loans — 3.5% down, 580+ credit. Charleston County's 2026 FHA limit is $546,250, well above many SC counties.
• VA Loans — Joint Base Charleston, naval weapons station, and Air Force families make VA loans one of the most-used programs in the metro. $0 down, no PMI.
• DSCR & Investor Loans — Charleston's short-term rental market is one of the strongest in the Southeast. Qualify on Airbnb/VRBO income, not your personal tax returns.
• Self-Employed Home Loans — bank statement, 1099, and asset-depletion programs for Charleston's large entrepreneur, restaurant-owner, and consultant base.
• Two-Property Mortgage — buy your next Charleston home using the equity in your current one, no contingency offer required.
• First Lien HELOC — combine mortgage + line of credit + checking account that pays your balance down daily.

Charleston Real Estate Snapshot

• Median home price: approximately $550,000–$650,000 (Charleston metro)
• FHA loan limit (2026): $546,250 (high-cost county)
• Conforming loan limit (2026): $832,750 (above this is jumbo territory)
• Major employers: Boeing, Joint Base Charleston, MUSC, Roper St. Francis Healthcare, College of Charleston, Volvo Cars, Mercedes-Benz Vans
• Submarkets we frequently work in: Mount Pleasant, Old Village, Daniel Island, West Ashley, James Island, Johns Island, downtown peninsula, North Charleston, Summerville

One Charleston-Specific Cost to Plan For

Unlike Greenville, parts of Charleston County are in FEMA flood zones, which means flood insurance is required by lenders for properties in those zones. Annual premiums can add $1,000–$3,000+ to your total housing cost depending on the elevation and flood zone designation. We check the flood zone status during pre-approval so you know what you're signing up for before you make an offer.

Why Charleston Buyers Choose a Mortgage Broker

The Charleston market spans first-time buyers in North Charleston, mid-range professionals in West Ashley, and luxury jumbo buyers on Sullivan's Island and Kiawah — a single bank can't serve all of those well. An independent broker like OpenKey shops 50+ wholesale lenders for each loan and matches the right program to your specific situation. We also work with self-employed Charleston business owners using bank statement loans, which most retail banks won't touch.

Charleston Mortgage FAQs

Do you work as a mortgage broker in Charleston?
Yes. OpenKey is an independent mortgage broker serving Charleston and the surrounding area, comparing many lenders for you.

Are you a mortgage lender in Charleston County, SC?
As a broker, we shop multiple lenders for Charleston County buyers, then match the loan that fits your goals, subject to qualification.

What does a Charleston mortgage expert help with?
Everything from first-time and VA buyers to jumbo and self-employed financing across Mount Pleasant, West Ashley, Daniel Island, and downtown.

Talk to a Charleston Mortgage Broker

Whether you're relocating to Charleston for Boeing, MUSC, or Joint Base Charleston, buying your first home in West Ashley, or financing an investment property in Mount Pleasant, OpenKey can model your options across 50+ wholesale lenders in one conversation. No credit pull to start. No commitment. Just a clear answer.

Call or text Samantha Payne at (864) 387-8964, email Samantha@openkeymortgage.com, or visit openkeymortgageadvisors.com. OpenKey Mortgage Advisors LLC. NMLS Company ID 2812158. Samantha Payne, NMLS #2743877. Licensed in South Carolina and North Carolina. Equal Housing Opportunity.