Agente Hipotecario in Columbia, SC

Sabemos que muchos agentes de préstamos hipotecarios tienen una reputación horrible. Algunos corredores sólo ven a sus clientes como transacciones y como un medio para ganar dinero rápido. Se muestran impacientes y agresivos, sin comprender que se trata de una decisión muy importante para usted. En Mission One Mortgage, adoptamos el enfoque opuesto. Alentamos a nuestros clientes a que se tomen todo el tiempo necesario para hacernos preguntas y revisar los documentos hipotecarios. Podríamos decir que nuestra misión es superar tus expectativas, pero preferimos mostrártelo. Desde asistencia para encontrar préstamos de la FHA, VA u otros hasta refinanciar su hipoteca actual, Mission One es el equipo en el que puede confiar.

Estas son solo algunas de las razones por las que los compradores de viviendas eligen Mission One Mortgage:

No Additional Fees

Sin cargos adicionales- Al brindar los servicios a nuestros clientes de forma gratuita, utilizar un agente hipotecario como Mission One Mortgage puede ayudarlo a buscar el mejor precio en préstamos sin un precio elevado.

Access to 50 Lenders

Acceso a 50 prestamistas- Con acceso a una variedad de préstamos y tasas de interés disponibles, Mission One Mortgage puede buscar los mejores préstamos para sus necesidades específicas.

Accessible to Our Clients

Accesible a nuestros clientes- Al brindar un servicio transparente y comunicativo a todos nuestros clientes, Mission One Mortgage garantiza que todas las llamadas telefónicas sean respondidas o devueltas de manera oportuna.

Setting You Up for Success

Preparándote para el éxito- Ayudándolo a preparar todos sus documentos para la aprobación previa y la solicitud de préstamo, Mission One Mortgage le proporcionará toda la información necesaria para obtener el mejor préstamo.

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Consulta Gratuita phone-number (843) 822-5685

Para comprender los beneficios de trabajar con un agente hipotecario, primero debe comprender su papel en el proceso de compra de una vivienda.

¿Qué hace un corredor hipotecario?

Su agente hipotecario es un tercero que trabaja para conectarlo con prestamistas hipotecarios. Básicamente, un corredor hipotecario actúa como intermediario entre una persona que quiere comprar una vivienda y las entidades que ofrecen préstamos para comprar una vivienda. El agente hipotecario trabaja tanto con el prestatario como con el prestamista para obtener la aprobación del prestatario. También verifican y recopilan la documentación del prestatario que el prestamista necesita para finalizar la compra de una vivienda. Por lo general, los agentes hipotecarios tienen relaciones con varios prestamistas de préstamos hipotecarios. Mission One Mortgage, por ejemplo, tiene acceso a 50 prestamistas diferentes, lo que nos brinda una amplia gama de préstamos hipotecarios en Columbia, SC, de donde elegir.

Además de encontrar un prestamista para préstamos hipotecarios, su agente hipotecario lo ayudará a elegir las mejores opciones de préstamo y tasas de interés para su presupuesto. Idealmente, su agente hipotecario le quitará una gran cantidad de estrés y trabajo preliminar y, al mismo tiempo, le permitirá ahorrar dinero.

Ayuda con el proceso de aprobación previa

Si está listo para comprar una casa, obtener la precalificación es una excelente opción que agilizará todo el proceso. Su agente hipotecario facilita la obtención de la aprobación previa al obtener todos los documentos necesarios para obtener la precalificación. Al revisar su solicitud, determinarán si está listo para el proceso de aprobación previa. Si su solicitud necesita elementos adicionales, la compañía hipotecaria le ayudará a orientarle en la dirección correcta para garantizar que su solicitud sea lo más sólida posible. Su agente hipotecario también lo guiará a través de los diferentes tipos de préstamos, desde convencionales y FHA hasta VA y USDA.

Para obtener una aprobación previa para una casa en Carolina del Sur, debe tener lo siguiente:

  • Dos años de formularios W2
  • 30 días de recibos de pago del empleador
  • 60 días de extractos bancarios
  • Una licencia de conducir válida

Hipotecas convencionales

Los préstamos convencionales se pueden utilizar para comprar una casa nueva o refinanciar la actual. Los préstamos convencionales incluyen hipotecas a tipo fijo e hipotecas a tipo ajustable. Generalmente, los prestatarios deben realizar un pago inicial del 3% para los propietarios-ocupantes, del 10% para una propiedad de vacaciones y del 20% para una casa de inversión. Si puede pagar el 20% del coste total de la vivienda, podrá evitar el seguro hipotecario privado, que de otro modo sería obligatorio. Los compradores con buen crédito o las personas que necesitan una hipoteca no ocupada por el propietario suelen preferir las hipotecas convencionales.

 Mortgage Company Columbia, SC
 Mortgage Lending Service Columbia, SC

Préstamos de la FHA

Las hipotecas de la FHA son emitidas por el gobierno de los EE. UU. y respaldadas por el Departamento de Vivienda y Desarrollo Urbano (HUD). Los compradores de vivienda por primera vez suelen preferir este préstamo porque solo requiere un pago inicial del 3,5% y ofrece más flexibilidad con los requisitos crediticios y los estándares de suscripción. Los préstamos de la FHA tienen varios requisitos que debes cumplir para calificar. Comuníquese con Mission One Mortgage hoy para obtener más información sobre los préstamos de la FHA y si son o no los mejores para su situación financiera.

Préstamos del USDA

También respaldados por el gobierno, estos préstamos están asegurados por el Departamento de Agricultura de EE. UU. y no requieren pago inicial. Estos préstamos tienen requisitos de seguro más bajos en comparación con los préstamos de la FHA, ofrecen financiamiento del 100% si califica y permiten que el vendedor cubra los costos de cierre. Para calificar para un préstamo del USDA, debe vivir en un área rural y los ingresos de su hogar deben cumplir con ciertos estándares. Estos préstamos suelen ser los preferidos por los ciudadanos de bajos ingresos que viven en zonas rurales de Carolina del Sur.

 Refinancing Columbia, SC
 Refinances Columbia, SC

Hipotecas para veteranos

También conocidas como préstamos VA o de Asuntos de Veteranos, estas hipotecas están reservadas para los hombres y mujeres valientes que sirvieron en el ejército. Los préstamos VA ayudan a brindarles a nuestros miembros militares, veteranos y sus familias condiciones de préstamo favorables y una experiencia sencilla de ser propietario de una vivienda. A menudo, quienes califican no están obligados a realizar un pago inicial por su vivienda. Además, estos préstamos suelen incluir costos de cierre menos costosos.

Si es un veterano o un familiar de un veterano, comuníquese con Mission One Mortgage hoy para hablar con nuestra profesional examinada de VA, Debbie Haberny. Debbie ayuda a nuestros miembros militares, veteranos y sus familiares a obtener préstamos hipotecarios utilizando beneficios para veteranos y estará encantada de ayudarle en la búsqueda de una casa.

q. Estaba hablando con mi cónyuge sobre agentes hipotecarios y mencionaron la frase originador de préstamos hipotecarios. ¿Cuál es la diferencia entre un corredor y un originador de préstamos?

UNO. La industria hipotecaria está llena de puestos y títulos confusos, lo que facilita la confusión de roles y responsabilidades. Tal es el caso de los agentes hipotecarios y los originadores de préstamos hipotecarios. Aunque sus funciones comparten similitudes, un originador de préstamos hipotecarios en Columbia, SC, trabaja para un banco o cooperativa de crédito, mientras que un corredor hipotecario trabaja para una empresa de corretaje. Tanto los originadores de préstamos hipotecarios como los corredores hipotecarios tienen licencia del Sistema Nacional de Licencias Multiestatales (NMLS).

q. Todo el mundo me ha dicho que es necesario tener un seguro hipotecario para comprar una casa. ¿Qué es el seguro hipotecario?

UNO. Básicamente, el seguro hipotecario ayuda a proteger a los prestamistas si un prestatario ejecuta la ejecución hipotecaria de la casa que compró. Una ventaja del seguro hipotecario es que cuando los prestatarios lo pagan, los prestamistas a menudo pueden otorgar préstamos a los compradores cuando de otra manera no lo habrían hecho. Aunque no siempre es necesario para comprar una casa, a menudo se necesita un seguro hipotecario para pagos iniciales inferiores al 20%.

q. Me acaban de aprobar previamente para comprar una hermosa casa en Carolina del Sur. ¿Hay algo que no debería hacer ahora que estoy precalificado?

UNO. Las compañías hipotecarias como Mission One Mortgage facilitan la precalificación para una vivienda. Sin embargo, a medida que continúa su proceso de préstamo, su prestamista debe ejecutar un nuevo informe crediticio antes de cerrar la compra de una vivienda. Por esa razón, es para evitar cualquier actividad que pueda afectar su puntaje crediticio, como:

  • No se convierta en cofirmante de un préstamo con otra persona.
  • No renuncies ni cambies de trabajo.
  • No solicite nuevas tarjetas de crédito, préstamos para automóviles ni ninguna otra línea de crédito.
  • No utilice su tarjeta de crédito para pagar compras grandes, como muebles para su nueva casa.
  • No evite pagos de líneas de crédito, préstamos o facturas de servicios públicos vigentes.

q. Mi cuñado recientemente refinanció su casa en Carolina del Sur. ¿Qué es la refinanciación? ¿Debería considerar refinanciar mi casa también?

UNO. Refinanciar su casa básicamente significa que está cambiando su hipoteca actual por una nueva, generalmente con una tasa de interés más baja. Si desea reducir el plazo de su préstamo, reducir los pagos hipotecarios mensuales o consolidar deudas, la refinanciación puede ser una opción inteligente. Muchos propietarios también optan por refinanciar si quieren pasar de hipotecas de tasa ajustable a hipotecas de tasa fija o obtener reembolsos en efectivo por renovaciones de la vivienda. Para saber si la refinanciación es una opción viable para su situación, comuníquese con Mission One Mortgage lo antes posible, ya que las tasas de los préstamos cambian con frecuencia.

Hipoteca Mission One: convertir los sueños en realidad, una hipoteca a la vez

Head-bottom

Aquí en Mission One Mortgage, creemos que las mejores comunidades comienzan con el sueño de ser propietario de una vivienda. Nuestra misión es hacer realidad esos sueños, con un servicio personalizado, orientación experta y trabajo duro a la antigua usanza. Como una de las compañías hipotecarias más confiables en Columbia, SC, Tenemos años de experiencia trabajando con una amplia gama de clientes, desde compradores e inversores por primera vez hasta prestatarios autónomos y hablantes no nativos de inglés.

Aunque cada situación hipotecaria es diferente, una cosa nunca cambia: nuestro compromiso con los clientes. Póngase en contacto con nuestra oficina hoy para comenzar una experiencia excepcional de compra de vivienda.

¡Contáctenos para servicio!

phone-number (843) 822-5685
 Cash Out Refinance Columbia, SC

Latest News in Columbia, SC

Grammy-nominated gospel singer from renowned family of performers playing Columbia church

Gospel singer Melvin Crispell III is a very popular performer.His joyful noise on albums like 2020’s "I’ve Got A Testimony" and 2023’s "No Failure" garnered him two Grammy award nominations, a Dove award nomination and a Dove win earlier this year (the Dove Awards are essentially the Grammys of spiritual music). His most popular song, a horn-drenched s...

Gospel singer Melvin Crispell III is a very popular performer.

His joyful noise on albums like 2020’s "I’ve Got A Testimony" and 2023’s "No Failure" garnered him two Grammy award nominations, a Dove award nomination and a Dove win earlier this year (the Dove Awards are essentially the Grammys of spiritual music). His most popular song, a horn-drenched slice of sunlit soul called “Wonderful Is Your Name,” has been streamed more than 2 million times.

We’re saying all that to establish that, if he had wanted to, Crispell, the son of renowned gospel composer Melvin Crispell Jr. and singer Tunesha Crispell, could’ve booked a show at a major Columbia performance venue and sold plenty of tickets. But that’s not what he did.

On Nov. 6, Crispell will perform at Right Direction Church International Sanctuary on Broad River Road. And the reason he’s doing that is simple: Church performances form the deep roots of Crispell’s love of gospel.

“My foundation is singing at different churches,” Crispell said. “So these events mean a lot to me. And everybody needs Jesus, so it’s not just about the big stages and the big theaters and all that stuff. I like taking the time to go to local churches and share my story.”

And when he looks out upon whatever congregation he faces, Crispell’s planned-out set often goes out the window.

“I do try to plan for what I'm going to say or what I’m going to sing, but the leading of the Holy Spirit is subject to change when I get in the moment of a performance because that's what I follow," he said. "I just want to present gospel that is authentic in every room that I enter.”

While Crispell is entering rooms, his new EP, "Covered Vol. 1," is entering sacred territory. The six-track collection presents modernized, agile takes on iconic gospel songs like “He’s Never Failed Me Yet" by CeCe Winans, “The Battle Is The Lord’s” by Yolanda Adams and more.

Throughout the EP, Crispell sings with both lightness and passion. His vocal style eschews the thundering preacher-style of some gospel singers, nstead favoring a remarkably flexible approach that allows him to truly catch the Spirit.

Given that Crispell has essentially spent his life steeped in gospel music, picking a mere six classic songs for "Covered, Vol. 1" was no easy task.

“It was almost impossible,” he said with a laugh. “It was tough decision, choosing these specific songs. but that's why I wanted it to be ‘Vol 1.’ So that when we get to 'Vol. 2,' we can search for six more songs, because there are so many songs that inspired me growing up, and I can't wait till we dive in.”

As for the crowds that Crispell delivers his message to, he says there is one audience member he aims to please before all others.

“Really, it’s an audience of one, and that’s Jesus,” he said. “It’s God himself, so that's how I go into every performance. And the connection emotionally with the audience is really just me inviting them into my personal space of worship. And that's what I like to do, is invoke the presence of God and invite people on that journey.”

That journey led Crispell to the Dove Awards stage earlier this year, when he won Traditional Gospel Album of the Year for his album "No Failure."

“That night was absolutely incredible to me,” Crispell said. “I was not expecting to win, but I’m grateful to be rewarded for the hard work and dedication on this project. It means everything to me.”

With years of success behind him and a shiny new award on the shelf, Crispell said he is as dedicated to raising people’s spirits as ever.

“My dedication and love for music and love for God has not changed,” he said. “We as artists and musicians have to do our job to inspire people and lead people and invite people that may not know Jesus into that space. Now, of course, that doesn't mean I’ll change the minds of people, but you just never know what someone's personal experience with Christ will lead to.”

Melvin Crispell III performs in Columbia Nov. 6 at 7 p.m. at Right Direction Church International Sanctuary as part of the congregation's four-day Direction Conference. More info at directionconference.info

A well-known national sandwich shop has opened a new location in this busy Columbia area

There’s a new place to grab a sandwich — and perhaps sprinkle it with a bit of hot sauce — in northeast Columbia.Firehouse Subs, which has locations across the Midlands and nationwide, opened a new sandwich shop Monday, Oct. 28 at 10136 Two Notch Road. The sandwich shop is located in the Sparkleberry Square shopping center, and is just a couple doors down from a Kroger grocery store.The new Firehouse Subs was opened by uncle-and-nephew duo Larry Chandler and Jody Chandler, who operate nearly 40 Firehouse locat...

There’s a new place to grab a sandwich — and perhaps sprinkle it with a bit of hot sauce — in northeast Columbia.

Firehouse Subs, which has locations across the Midlands and nationwide, opened a new sandwich shop Monday, Oct. 28 at 10136 Two Notch Road. The sandwich shop is located in the Sparkleberry Square shopping center, and is just a couple doors down from a Kroger grocery store.

The new Firehouse Subs was opened by uncle-and-nephew duo Larry Chandler and Jody Chandler, who operate nearly 40 Firehouse locations across the Carolinas.

“We are thrilled to be bring our hearty and flavorful subs and community commitment to a new area of Columbia,” Larry Chandler said in a statement. “We can’t wait to welcome new and loyal guests, while supporting local first responders through the Firehouse Subs Public Safety Foundation.

There are dozens of Firehouse Subs locations across South Carolina, including several in the Columbia and Lexington areas. The company is known for its hot sandwiches with names that are a nod to firefighting, such as the signature Hook and Ladder, which comes with smoked turkey breast, Virginia honey ham, melted Monterey Jack cheese, mayo, deli mustard, lettuce, tomato, onion, and a kosher dill pickle on the side.

The company also recently rekindled its popular hot sauce bar, offering customers a host of spicy sauces they can add to their sandwiches when they are in the restaurant.

The Sparkleberry Square Firehouse Subs is in the midst of a busy commercial area in northeast Columbia. Nearby businesses include Lowe’s Home Improvement, Kroger, Publix, Ross, Kohl’s, Chick-fil-A and more. About 32,400 cars per day travel down that section of Two Notch Road, per state Department of Transportation statistics.

The new Firehouse location is open from 10 a.m. to 10 p.m. daily.

The State

Chris Trainor is a retail reporter for The State and has been working for newspapers in South Carolina for more than 20 years, including previous stops at the (Greenwood) Index-Journal and the (Columbia) Free Times. He is the winner of numerous South Carolina Press Association awards, including honors in column writing, government beat reporting, profile writing, food writing, business beat reporting, election coverage, social media and more.

BBQ spot Maurice’s Piggie Park faces challenges after major fire

A fire at Maurice’s Piggie Park in Cayce damaged its headquarters, sparking a multi-agency investigation as the small BBQ restaurant chain plans its recovery.CAYCE, S.C. — The West Columbia Fire Department continues investigating the cause of the fire at the Maurice's Piggie Park BBQ headquarters in Cayce."Shock. I mean absolute...

A fire at Maurice’s Piggie Park in Cayce damaged its headquarters, sparking a multi-agency investigation as the small BBQ restaurant chain plans its recovery.

CAYCE, S.C. — The West Columbia Fire Department continues investigating the cause of the fire at the Maurice's Piggie Park BBQ headquarters in Cayce.

"Shock. I mean absolute shock, and then you know sadness, because anybody who has grown up in this area, everybody recognizes the piggy park and the pig sign," Lisa Harmon said.

That's how Harmon said she felt when she saw flames coming from the buildings on the property on Saturday night.

“From our vantage point last night and how big the fire was, it was really difficult to tell whether or not the restaurant was also involved so just the general reaction was just shock,” she said.

Authorities later said the restaurant on the property was not damaged.

RELATED: West Columbia fire chief provides update on fire at Maurice's Piggy Park offices, cooking facilities

Around 9:15 p.m. on Saturday, the West Columbia Fire Department responded to the area of Charleston Highway and Airport Boulevard in Cayce. Fire Chief Marquis Solomon said it took multiple agencies to extinguish this fire.

“We had large amount of resources on-scene; we had agencies from five different jurisdictions working on this incident, so it was very intense," he said. "And manpower, we were in the neighborhood of about 50 to 60 firefighters on-scene at the height of the incident.”

According to Solomon, the fire took four hours to put out, and crews were still on the scene Sunday morning checking for small hot spots.

“The restaurant was not affected. However, the administrative offices, the cook house were all contained inside that building that was that was damaged by fire last night,” Solomon said.

The restaurant shared additional news in a Facebook post on Sunday morning.

“We plan for all our restaurants to be closed Monday until further notice," the statement said. "We will be taking it day by day as we work to reopen and rebuild. For anyone who knows our family knows we won’t give up and will work endlessly to do what we need to do to continue the BBQ legacy and support our 150 employees and community we love dearly.”

RELATED: Well-known barbecue restaurant issues statement after fire at headquarters: 'Unbelievable mountain to climb ahead of us'

The cause of the fire is still under investigation.

"We do have a multiple-agency investigation being conducted that's through the city of West Columbia, also SLED [South Carolina Law Enforcement Division], state fire and the ATF," Solomon said. "This is a common practice with large dollar loss incidents.”

The fire department asked anyone in the area to stay away from the actual fire scene as the fire is still under investigation.

Columbia lost its bid to host NCAA March Madness again. The problem? Not enough hotels

Columbia will not host rounds of the NCAA’s March Madness men’s basketball championship in 2027 or 2028, despite submitting a bid earlier this year. Columbia’s problem is its lack of full-service hotels, explained Scott Powers, executive director of Experience Columbia Sports, the city’s sports tourism agency.“While it wasn’t a surprise, we’re disappointed,” Powers said, explain...

Columbia will not host rounds of the NCAA’s March Madness men’s basketball championship in 2027 or 2028, despite submitting a bid earlier this year.

Columbia’s problem is its lack of full-service hotels, explained Scott Powers, executive director of Experience Columbia Sports, the city’s sports tourism agency.

“While it wasn’t a surprise, we’re disappointed,” Powers said, explaining that the NCAA informed the city earlier this month that it would not be among host cities for tournaments in 2027 or 2028.

In 2019, the city broke a nearly 50-year streak and was chosen to host a portion of the NCAA men’s basketball tournament for the first time since 1970. Almost 48,000 tickets were sold for the six games hosted in Columbia that year, and the overall economic impact to Richland and Lexington counties was $11.3 million.

It was a big moment for Columbia, not only because of the economics, but also because March Madness draws international attention and it was a chance for South Carolina’s capital city to show its assets.

The city keeps hoping to recapture that moment, but every year since the city last won a host position the requirements have gotten more stringent, Powers said. In 2019, they found creative ways around the full-service hotel problem. But the NCAA hasn’t been willing to make the same concessions in more recent years.

Columbia and the surrounding area do have a lot of hotels. There were at least 160 hotels with a total of 13,263 rooms in the Columbia metro area as of December 2023, according to the state Restaurant and Lodging Association. That’s also a significant increase from December 2019, when there were 129 hotels and under 12,000 rooms. So the region is also adding hotels. But they aren’t adding the right kind of hotels fast enough.

The NCAA wants host cities with eight to 10 full-service hotels with in-house food and beverage options, with four meeting rooms of at least 2,000 square feet. And it wants each of the eight teams playing in the tournament rounds to have their own hotel to avoid any bad blood before or after games. There are only four hotels in the region that meet those requirements, Powers previously told The State, and the city hasn’t built any new ones in almost 20 years. The last NCAA-approved full-service hotel that opened in Columbia was the Hilton Columbia Center in 2007.

Columbia wasn’t the only city in the Carolinas to miss out on the host gigs. Charlotte is the only city in the Carolinas to have been selected by the NCAA this round. Powers thinks this indicates that smaller cities might not stand a chance in the future.

Powers said he will keep bidding to host NCAA tournament rounds, but he’s not optimistic that Columbia will get selected, at least until after 2030, because bids have to be submitted up to two years prior and Columbia won’t change enough in that time. He said one solution could be to limit the number of small hotels that can be built downtown in favor of larger projects.

Developer Ben Arnold has plans to build one new full-service hotel in the Vista in coming years, and the Convention Center has also been planning a hotel project adjacent to its property.

Powers added that he doesn’t think the NCAA’s decision is an indication that Columbia isn’t a good fit to host high-profile events, pointing to the recent Premier League Rivals in Red match hosted at Williams-Brice. While there are limits to what the city can support, he said, Powers believes Columbia will still continue to build momentum to host bigger events.

“Obviously we know we’re not going to host a Superbowl,” he said.

This story was originally published October 22, 2024, 12:04 PM.

The State

(803) 771-8330

Morgan Hughes covers Columbia news for The State. She previously reported on health, education and local governments in Wyoming. She has won awards in Wyoming and Wisconsin for feature writing and investigative journalism. Her work has also been recognized by the South Carolina Press Association.

As home prices across the country skyrocket, these Columbia neighborhoods remain affordable

LEXINGTON — During the COVID-19 pandemic, Blake Hayes was one of many to pick up and move to South Carolina. Even though he was only 20, Hayes had a goal to buy a home. Prices in the Palmetto State were more reasonable than where he lived in Virginia.As Hayes searched for a home, he was in luck. He landed a comfortable starter home in Lexington County, off of Saint Andrews Road.But less than three years later, when Hayes and his wife, Shannon, decided to move to West Columbia, prices had risen significantly and selling hi...

LEXINGTON — During the COVID-19 pandemic, Blake Hayes was one of many to pick up and move to South Carolina. Even though he was only 20, Hayes had a goal to buy a home. Prices in the Palmetto State were more reasonable than where he lived in Virginia.

As Hayes searched for a home, he was in luck. He landed a comfortable starter home in Lexington County, off of Saint Andrews Road.

But less than three years later, when Hayes and his wife, Shannon, decided to move to West Columbia, prices had risen significantly and selling his old place became an anxiety-inducing headache.

Hunting for a house is fun for the first couple of weeks, Hayes said. But "then when it's a month into it, two months into it, you still haven’t found a place or you’ve put in offers on houses, that’s when it gets a little bit more difficult to deal with," he added.

The Columbia area is generally cheaper than other cities compared to larger metro areas in the state or similar-sized cities across the southeast. But the cost to buy a home has risen significantly in the last few years, making home ownership less attainable for young people.

Columbia Business

“When I started my career 10 years ago, I could get them in for $120,000 and now if I get them in for under $200,000, I’m happy," said Olivia Cooley, a Columbia-based realtor.

And as Richland and Lexington counties continue to grow, it's becoming more difficult to find an affordable home that checks all the boxes.

The state is expected to see a million more people move to South Carolina by 2040, according to data from the S.C. Revenue and Fiscal Affairs Office. Richland is expected to grow by around 4 percent in the next 10 years and Lexington is expected to grow 7.6 percent.

Where can the average earner in the Midlands buy a home?

In Richland County, the median household income is $61,079, according to U.S. Census data from 2023. Financial experts recommend spending anywhere from 30 to 45 percent of pretax income on a monthly mortgage, which includes costs like principal, interest and taxes.

Someone making the median income in Richland could afford around $2,100 each month toward a mortgage. That'd mean they could purchase a home in the $240,000 range, which is not far off from Columbia's average home price.

That calculation could change if the buyer has outstanding debt, like student loans, car payments or a significant amount of credit card debt. It'd also vary based on how much, if any, the buyer was able to spend on a down payment.

In Lexington County, the median household income is $76,447, according to Census data. That'd give a Lexington homebuyer around $2,520 to spend each month toward the cost of a home. With no debt and the help of a down payment, that'd make a home in the high $200,000 to low $300,000 range affordable. In Lexington, the average cost of a house hovers around the mid-to-high $200,000s, according to Zillow.

In the fast-growing county, especially in the Town of Lexington, homes tend to be more expensive than in Richland County, Cooley said. People are flocking to the county in part because of the area's schools. Few areas of Lexington, like Cayce and West Columbia, remain somewhat affordable because they are more up and coming, Cooley explained.

But across the Midlands, a handful of neighborhoods remain more affordable and even somewhat lower than the median price. Areas that have grown in the last few years, but still haven't quite hit their stride in terms of growth yet, are more manageable on the wallet, Cooley said. These include parts of West Columbia, Cayce, Columbia neighborhoods like Rosewood and Earlewood and areas on the outskirts like Irmo and up toward Elgin.

Home ownership out of reach for most young adults

As Lexi Neely vented to a gym friend, who just so happened to be a realtor, about the property management at her apartment complex, it dawned on her. It was time to buy a home.

Neely, a 25-year-old accountant, had had it with having a landlord. She wanted a place that she owned. She wanted a yard for her dog, Bailey.

"I just felt like it was silly for me to pay as much as I was paying because I’m paying literally $100 less than I was in an apartment. I’m paying less for a three-bedroom home as opposed to a two-bedroom apartment," Neely said.

So, with the help of her stepdad on the down payment, Neely bought a home in Lexington County on about a third an acre of land. It's a move that's become increasingly difficult for young adults like Neely, who said it wouldn't have been possible without help.

Down payment assistance, be it gifts from family members or local programs designed to help first-time homebuyers, has become increasingly more popular for younger buyers, realtors and lenders across Columbia said. The average age of first-time buyers is going up, said Taylor Oxendine, co-executive office at the Central Carolinas Realtors Association.

Columbia Business

There's competition in the housing market mostly between two generations, Oxendine explained. Baby boomers, some of whom are coming from out of state and have money saved up, are in some ways eking out millennials who are trying to break into the market for the first time.

"You’re having those two groups compete ... a first-time homebuyer having to compete against somebody that has the wealth built up," Oxendine said.

But even as Columbia-area prices have increased, the Midlands have been insulated from some of the problems other cities are seeing surrounding affordability, local realtors said. The region has remained more affordable than Charleston, which has an average home price of $564,000 according to Zillow, and Greenville, at $306,000.

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