Charleston Home Loans

Charleston is one of the most in-demand housing markets on the East Coast, and the numbers reflect it. Median home prices across the metro run around $400K, but that figure is dragged down by North Charleston and outlying areas. Downtown — south of Broad, Harleston Village, Wagener Terrace — trades at $700K to well over $1M. Mount Pleasant has become the metro’s primary growth engine, with a median pushing $600K+ and neighborhoods like Dunes West and Park West drawing buyers who want new construction and top school ratings.

The economic base is unusually diverse for a city this size. Joint Base Charleston is one of the largest in the country, putting a consistent stream of VA-eligible buyers in the market. MUSC anchors a large healthcare sector. The Port of Charleston drives logistics and manufacturing employment. Tourism generates a restaurant and hospitality workforce that skews toward self-employed and tip-based income — a demographic that often needs bank statement loan programs.

James Island and West Ashley offer more affordability without sacrificing proximity to downtown. Summerville, 30 minutes out, has absorbed enormous growth from buyers who can’t afford Mount Pleasant. Daniel Island is a master-planned community that attracts corporate relocations — Boeing, Mercedes-Benz Vans, and Volvo have operations in the Lowcountry, and their employees land here.

Loan Programs Available in Charleston

• FHA Loans — 3.5% down; strong fit for buyers in North Charleston, Summerville, and Goose Creek
• VA Loans — Zero down for veterans and active duty at JB Charleston and Naval Weapons Station; one of our most-used programs in this market
• Conventional Loans — Fixed-rate terms; the workhorse for Mount Pleasant, West Ashley, and suburban purchases
• Jumbo Loans — Required for much of downtown, South of Broad, and upper-end Mount Pleasant
• USDA Loans — Zero down in eligible rural areas outside the metro (Berkeley and Dorchester County fringes)
• Bank Statement Loans — For self-employed borrowers in hospitality, tourism, and the trades
• DSCR Investment Loans — Qualify on rental income; short-term rental demand is significant in Charleston

Charleston Housing Market

Charleston’s growth hasn’t slowed. The metro has absorbed a decade of domestic migration from the Northeast and Midwest, and prices in desirable areas have responded accordingly. The challenge for buyers right now is inventory — especially in the $400K–$600K range where demand is heaviest.

Neighborhood Snapshot

The VA market here is real. JB Charleston and the Naval Weapons Station at Goose Creek create steady demand from active duty personnel and veterans. VA loans are not niche products in Charleston — they’re mainstream, and we close them regularly. If you have VA eligibility and haven’t used it, this is a market where zero down makes a material difference given the price levels.

Investment and short-term rental. Downtown Charleston draws significant Airbnb demand. City ordinances restrict short-term rentals in some areas, so verify before buying an investment property for that purpose. Long-term rental demand is strong throughout the metro, and DSCR loans are the right tool for investors who want to keep personal income documents out of underwriting.

Why Buyers in Charleston Choose 1st Nationwide

• VA loan depth. Charleston’s military community is large. We close VA loans without complications, including in competitive multiple-offer situations where sellers sometimes hesitate.
• Jumbo experience where it counts. South of Broad and Mount Pleasant’s upper end require jumbo financing. We work with multiple jumbo lenders and can move quickly when inventory is tight.
• Self-employed programs for the hospitality economy. Charleston’s restaurant and tourism workforce is huge. Bank statement loans give those borrowers a path that W-2-only lenders can’t offer.
• Licensed in South Carolina, NMLS #1281. Direct lender. No broker layer.

Get Started

Buying or refinancing in Charleston? Call (833) 350-9185 or apply online.