Coastal Funding - Charleston

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Coastal Funding - Charleston Charleston's Number 1 Mortgage Broker

An accepted offer is exciting, but the mortgage process is not finished. Your lender may continue verifying income, asse...
10/11/2026

An accepted offer is exciting, but the mortgage process is not finished. Your lender may continue verifying income, assets, employment, insurance, debts, and property information. The appraisal, title work, inspections, and other contract conditions may also be underway.

During this stage:
• Respond promptly to requests for updated documents.
• Tell your lender before changing jobs or moving money between accounts.
• Avoid new debt or large unexplained deposits.
• Review disclosures and ask questions when something is unclear.
• Stay in communication with your agent, lender, attorney, and insurance provider.

Clear communication can help keep your purchase moving from accepted offer to closing, whether you are buying in Charleston, West Ashley, Summerville, Mount Pleasant, or North Charleston.

Coastal Funding Corporation stays engaged throughout the process because you deserve to know what is happening and why.

charlestonmtg.com | NMLS #103035

Every loan remains subject to verification, underwriting, appraisal, title, insurance, property review, program requirements, and lender approval. Educational content only; not a loan offer or commitment to lend.

Could an FHA loan help make a Charleston home feel within reach? 🏡FHA loans are insured by the Federal Housing Administr...
10/11/2026

Could an FHA loan help make a Charleston home feel within reach? 🏡

FHA loans are insured by the Federal Housing Administration. For many qualified buyers, the down payment can be as low as 3.5%. Gift funds from family may be allowed toward the down payment and closing costs, and seller concessions may help with buyer costs. Subject to program rules.

FHA financing may be worth exploring for first-time buyers, people with limited savings or still-building credit, and buyers who’ve been turned down elsewhere. Approval isn’t guaranteed, and there are tradeoffs: FHA mortgage insurance generally includes an upfront premium and an annual premium. The home must also meet FHA minimum property requirements at appraisal, which can matter with older or distressed homes around Charleston. Property type, condition, and occupancy can affect eligibility.

Coastal Funding Corporation is a local Charleston-based mortgage broker offering caring guidance, clear communication, and competitive rates from multiple lenders. Questions about FHA financing in the Charleston area? Share them in the comments.

charlestonmtg.com | (843) 212-6200 | NMLS #103035

For educational purposes only. Terms, rates, programs, eligibility, property requirements, and approval vary. Not a commitment to lend. Equal Housing Opportunity. Licensed in FL, SC, TN.

Buying a home in Charleston? Earnest money is a good-faith deposit a buyer typically pays after the seller accepts an of...
10/11/2026

Buying a home in Charleston? Earnest money is a good-faith deposit a buyer typically pays after the seller accepts an offer. It’s separate from your down payment and separate from closing costs.

The deposit is usually held by a third party (such as a real estate brokerage, title company, or attorney) in an escrow or trust account. When the purchase closes, it is generally credited toward your down payment and/or closing costs. It is not an extra fee paid to the lender, and it isn’t lost money when you complete the purchase.

The amount is negotiated and varies by contract. It does not always need to be a large percentage of the purchase price.

Contract terms and contingencies matter. If an inspection, financing, or appraisal contingency is properly satisfied, or the transaction ends under a valid contingency, the deposit is often returned. If a buyer simply walks away without a valid contractual reason, the deposit may be at risk.

Every situation depends on the written contract and South Carolina practices. Review the details with your real estate agent and attorney; this is not legal advice.

Questions about financing your Charleston home? We’re here to help, without pressure.

charlestonmtg.com | (843) 212-6200 | NMLS #103035

For educational purposes only. Terms, eligibility, and approval vary. This is not a commitment to lend. Equal Housing Opportunity. Equal Housing Lender.

Charleston and Lowcountry entrepreneurs: financing a business property follows a different path than a residential mortg...
10/11/2026

Charleston and Lowcountry entrepreneurs: financing a business property follows a different path than a residential mortgage.

Business loans may help with an owner-occupied commercial space, a business-property purchase, expansion, working capital, equipment, or renovation.

Underwriting may review business income, financial statements, tax returns, cash flow, and your business plan, not personal DTI alone. Credit, time in business, industry, property type, reserves, and down payment/LTV can also matter. A personal guarantee may be required, along with collateral or business assets. Commercial property may need an appraisal and environmental or other property reviews.

Start the conversation early, before committing to a property or expansion plan. Since 2004, Coastal Funding Corporation has offered Charleston-area expertise, options from multiple lenders, transparent pricing with no hidden fees, and constant communication. If another lender said no, we may help explore another path.

Learn more: charlestonmtg.com | (843) 212-6200 | NMLS #103035

This content is for educational purposes only. Terms, eligibility, and approval vary. This is not a commitment to lend. Equal Housing Opportunity.

Charleston buyers: a softer market may open another path to a more manageable monthly payment, through negotiation, not ...
10/10/2026

Charleston buyers: a softer market may open another path to a more manageable monthly payment, through negotiation, not just rate shopping. 🏡

September’s local snapshot: median list price around $479,450, about 61 days on market, and roughly 28% of listings with price cuts. That can create room to discuss seller concessions as part of your offer.

A seller-paid concession may help cover eligible closing costs or prepaid items, including costs tied to a rate buydown, subject to loan-program limits and lender rules. A temporary 2-1 buydown can reduce the payment in the first two years before it rises to the note-rate payment, so be sure that future payment fits your budget. Discount points are a permanent buydown: paid upfront to reduce the interest rate for the life of the loan. We can help compare the cost and potential break-even point.

These terms are negotiated in the purchase contract, then reviewed by the lender. Not every cost or buydown is eligible, and concession limits apply.

Shop your rate AND negotiate your deal. Serving Charleston since 2004, Coastal Funding offers caring guidance, constant communication, and competitive options compared across multiple lenders. Questions? (843) 212-6200 or charlestonmtg.com | NMLS #103035

Educational purposes only. Market figures and statistics may change. Program details, terms, rates, fees, eligibility and approval vary. Restrictions apply. Not a commitment to lend. Equal Housing Opportunity.

Considering an adjustable-rate mortgage (ARM) for a Charleston-area home? Here’s the plain-English breakdown:An ARM begi...
10/10/2026

Considering an adjustable-rate mortgage (ARM) for a Charleston-area home? Here’s the plain-English breakdown:

An ARM begins with a fixed-rate period. For example, a 5/1 ARM is fixed for the first 5 years, then may adjust once per year.

After that initial period, the new rate is generally based on:
• Index: a market-based benchmark that can change
• Margin: a set amount added by the lender
• Rate caps: limits on how much the rate can change. Initial adjustment caps apply at the first reset, periodic caps apply at later adjustments, and a lifetime cap limits the total increase over the loan’s life

When the reset date arrives, your interest rate and monthly payment may move up or down. A lower payment now comes with a future reset date, so payment stability matters.

An ARM may fit some borrowers, but only after carefully considering how long you plan to stay in the home or keep the loan before refinancing or selling, and how comfortable you are with possible payment changes. It is not the right fit for everyone. Fixed-rate options are also available for buyers who want payment certainty for the full term.

We’re here to explain the differences without pressure. Learn more at charlestonmtg.com or call (843) 212-6200.

For educational purposes only. Loan terms, eligibility, rates, fees, and approval vary. This is not a commitment to lend. Equal Housing Opportunity. Equal Housing Lender. NMLS #103035.

Could down payment assistance help make homeownership more attainable in Charleston and the Lowcountry? It may be worth ...
10/10/2026

Could down payment assistance help make homeownership more attainable in Charleston and the Lowcountry? It may be worth exploring early, whether you’re a first-time buyer or a repeat buyer.

Programs such as SC Housing and other state, county, or local assistance programs may help eligible buyers with upfront homebuying costs. Depending on the program, assistance may be structured as a second lien or as a forgivable or repayable grant. It may also be paired with eligible Conventional, FHA, VA, or USDA financing, but every program has its own rules.

Eligibility, income limits, property requirements, funding availability, repayment terms, and approval can vary. Prepare to provide information such as income, employment, assets, credit history, and any required homebuyer education documents. Ask about assistance options before signing a contract so you have time to review current program details and lender requirements.

Since 2004, Coastal Funding has helped Charleston-area buyers (including those in Mount Pleasant, West Ashley, Summerville, and nearby Lowcountry communities) compare multiple-lender options with steady communication and transparent education. If another lender says no, we’ll work to understand your goals and look for possible solutions.

Learn more at charlestonmtg.com or call (843) 212-6200. NMLS #103035.

Content is for educational purposes only. Terms, eligibility, and approval vary. This is not a commitment to lend. Equal Housing Opportunity.

📏 Charleston Home Appraisal: What Borrowers Should Know.An appraisal is an independent opinion of a property’s value for...
10/09/2026

📏 Charleston Home Appraisal: What Borrowers Should Know.

An appraisal is an independent opinion of a property’s value for lending purposes. It is different from a home inspection, which focuses on the home’s condition and potential defects.

The appraiser may consider comparable sales, location, size, condition, improvements, and other market factors. If the appraised value is lower than the contract price, your loan strategy may need to be reviewed. Possible paths can include renegotiating, bringing additional funds, challenging inaccurate information through the lender’s process, or reconsidering the transaction: depending on the contract and circumstances.

No appraisal can predict future value, and an appraisal is not a guarantee that a home is free of problems. Buyers should still obtain an inspection and ask questions.

Coastal Funding Corporation helps Charleston-area borrowers understand how property review fits into the overall loan process.

charlestonmtg.com | NMLS #103035

Appraisal results, underwriting, loan terms, costs, eligibility, and approval vary. This is educational information, not a loan offer or commitment to lend.

Across the Cooper River from downtown Charleston, Mount Pleasant offers an easy commute with a welcoming suburban coasta...
10/09/2026

Across the Cooper River from downtown Charleston, Mount Pleasant offers an easy commute with a welcoming suburban coastal feel. 🌿

Stroll the Victorian-era homes, front porches, and tree-lined streets of the Old Village, then follow the Pitt Street Bridge (Pickett Bridge) walkway across the marsh toward Sally’s Island. Enjoy working shrimp boats and waterfront dining at Shem Creek, explore Patriots Point and the USS Yorktown, shop at Mount Pleasant Towne Centre, visit the weekly farmers market, or head to Sullivan’s Island and Isle of Palms. Coleman Boulevard adds even more local dining favorites.

Housing ranges from established neighborhoods, golf-course and waterfront communities to townhomes, condos, and newer areas near Highway 41 and Carolina Park. It’s easy to see why growing families, military and veteran families, and buyers seeking coastal living with downtown access are drawn here.

For financing, property type, lot location, flood-zone and insurance considerations, HOA structure, and whether the home is a primary residence, second home, or investment can all matter. Depending on the property and program requirements, eligible buyers may consider Conventional, FHA, VA, or USDA-eligible-area financing. Existing homeowners may also explore whether a HELOC fits their goals.

Coastal Funding Corporation is a local Charleston-based mortgage broker. What’s your favorite Mount Pleasant spot or hidden gem?

Learn more: charlestonmtg.com | (843) 212-6200 | NMLS #103035

For educational purposes only. Terms, rates, programs, eligibility, property requirements, and approval vary. This is not a commitment to lend. Equal Housing Opportunity. Licensed in FL, SC, TN.

Buying in Charleston? Here’s what an appraisal is, and isn’t.An independent, licensed appraiser gives an opinion of a pr...
10/09/2026

Buying in Charleston? Here’s what an appraisal is, and isn’t.

An independent, licensed appraiser gives an opinion of a property’s market value on a specific date. The lender typically orders it to help support the loan amount. It’s an opinion, not a guarantee or prediction.

It’s not a home inspection: an inspection examines condition and systems for the buyer; an appraisal evaluates value for the lender. Consider both. It doesn’t protect the buyer or simply confirm the buyer’s price, and appraisal-related costs are typically paid by the borrower as closing costs.

The appraiser may review comparable sales, location, neighborhood, lot, property type/condition, square footage, features, and adjustments. Historic peninsula homes, downtown condos, Lowcountry lots or views, and new construction can bring unique considerations.

If value is below the contract price, options may include renegotiation, seller concessions, additional funds, a different eligible loan program, or a reconsideration of value with supporting data. None automatic. Ordered after acceptance, an appraisal can take time and affect closing. It isn’t permanent; markets change and a future refinance may need a new one.

Questions? charlestonmtg.com | (843) 212-6200 | NMLS #103035

Educational/informational only, not financial, tax, or legal advice. Values, rates, terms, costs, fees, eligibility, approval, and program availability vary. Not a commitment to lend. Equal Housing Opportunity / Equal Housing Lender.

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Charleston, SC
29412

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