Home financing in Hampton County.

Home financing is simply the process of borrowing money to purchase, build, or improve a home — and agreeing to pay it back over time, usually with interest. The most common form is a mortgage: a loan secured by the property itself.

If you stop making payments, the lender can foreclose on the home.

That is why understanding every term before you sign is so important.

There are several types of home loans available in Hampton County:

• **Conventional loans** — Offered by banks and credit unions, usually requiring a credit score of 620 or higher and a down payment of 3–20%.

• **FHA loans** — Backed by the federal government, with lower down payment requirements (as low as 3.5%) and more flexible credit standards. A useful tool for first-time buyers.

• **USDA Rural Development loans** — Because most of Hampton County qualifies as rural, many buyers here may be eligible for USDA loans, which can offer zero down payment for income-qualifying households.

• **VA loans** — For eligible veterans and active-duty service members, these offer strong terms and no down payment.

• **ITIN loans** — For borrowers who do not have a Social Security number but do have an Individual Taxpayer Identification Number (ITIN). Several community lenders and CDFIs in South Carolina offer these.

No single loan type is right for everyone. A local lender or housing counselor can help you figure out which fits your situation.

Hampton County's economy is shaped by farming, timber, manufacturing, and small contractors — many of whom are self-employed or work seasonally. This matters for financing because lenders look at income consistency, not just income size.

**If you are a solo contractor or self-employed:**

You will likely need to show two years of tax returns (Schedule C or K-1), proof of active contracts or business licenses, and sometimes a profit-and-loss statement prepared by an accountant. Lenders want to see that your income is stable, even if it fluctuates month to month.

**If you are a small real-estate investor:**

Lenders will look at your existing debt load, rental income history, and the property's potential. In Hampton County, where property values are more modest than in coastal or metro markets, some investors find it easier to qualify — but also easier to over-leverage. Proceed carefully.

**If you are an immigrant or do not have a Social Security number:**

ITIN-based home loans are real and available. You do not need to be a U.S. citizen to buy a home. ITIN lenders will typically ask for your ITIN, two years of tax filings under that ITIN, proof of residence, and bank statements. Some credit unions in the Lowcountry region are experienced with ITIN borrowers.

**USDA eligibility is a major local advantage:**

A large portion of Hampton County falls within USDA Rural Development's eligible zones. Households with moderate incomes who have not owned a home in the past three years may qualify for the USDA Single Family Housing Guaranteed Loan Program — with no down payment required. Income limits apply and vary by household size.

Gathering your documents early saves time and prevents surprises. Here is a general list — your specific lender may ask for more or less:

**For all borrowers:**

- Government-issued photo ID (driver's license, passport, or consular ID)

- Social Security number OR ITIN

- Two most recent years of federal tax returns (all pages)

- Two most recent months of bank statements (all pages)

- Most recent pay stubs (if employed) or profit-and-loss statement (if self-employed)

- Proof of any additional income (rental income, child support, etc.)

- Landlord contact or 12-month rental history if you currently rent

**For self-employed contractors:**

- Two years of business tax returns

- Current business license

- Year-to-date profit-and-loss statement

- Any 1099 forms received

**For real-estate investors:**

- Existing mortgage statements on properties you own

- Current leases or rental agreements

- Property tax statements

- Homeowners insurance declarations pages

**For ITIN borrowers:**

- Valid ITIN letter from the IRS

- Two years of tax returns filed under your ITIN

- Bank statements showing consistent deposits

- Proof of residence (utility bills, lease agreement)

Organize these into a folder — physical or digital — before you contact any lender. It shows you are serious and speeds up the process.