South Carolina's #1 Rated Reverse Mortgage

Michael G. Branson, CEO of All Reverse Mortgage, Inc., and moderator of ARLO™, has 45 years of experience in the mortgage banking industry. He has devoted the past 20 years to reverse mortgages exclusively. (License: NMLS# 14040)

All Reverse Mortgage's editing process includes rigorous fact-checking led by industry experts to ensure all content is accurate and current. This article has been reviewed, edited, and fact-checked by Cliff Auerswald, President and co-creator of ARLO™. (License: NMLS# 14041)

By Michael G. Branson   Edited by Cliff Auerswald

Reverse Mortgages in South Carolina: A Comprehensive Guide

If you’re a South Carolina homeowner aged 62 or older, a reverse mortgage could be a valuable tool to help you unlock the equity in your home and improve your financial security during retirement.  In this guide, we’ll cover everything you need to know about reverse mortgages in South Carolina, including key facts, the latest statistics, top lenders, and essential protections.

About All Reverse Mortgage, Inc. of South Carolina

At All Reverse Mortgage, Inc. (ARLO™), we’ve spent two decades serving homeowners nationwide, earning our reputation as the #1 Rated Reverse Mortgage provider.  With an A+ rating from the Better Business Bureau and countless 5-star reviews, we’re known for offering exceptional service, competitive rates, and lower costs.

Since 2004, our mission has been to help homeowners make the most of their home equity.  Whether it’s paying off an existing loan, creating a safety net with a growing line of credit, or simply enjoying financial peace of mind, we provide personalized guidance every step of the way.  Our team even pioneered the first fixed-rate jumbo reverse mortgage in 2008, giving us unmatched expertise in these innovative loan programs.

As a HUD-approved reverse mortgage lender, we offer both HECM & Jumbo Reverse Mortgages tailored to your unique situation.  While jumbo loans can be an excellent choice for higher-value homes, they often come with lower Principal Limits.  Our experts will help you weigh the benefits and make the decision that’s right for your goals.

Across South Carolina, homeowners aged 62 and older are embracing reverse mortgages not as a last resort, but as a sound retirement strategy.  From eliminating monthly payments to accessing growing credit lines, our clients continue to enjoy the comfort of staying in their homes while planning for a secure future.

At All Reverse Mortgage, Inc. (ARLO™), we look forward to serving you with the professionalism, transparency, and care that have defined our company from the start.

Reverse Mortgage Eligibility & Key Facts

Latest South Carolina Reverse Mortgage Statistics

Top Reverse Mortgage Lenders in South Carolina

South Carolina Reverse Mortgage Lending Limits

South Carolina, known as “The Palmetto State,” is home to over 5.3 million residents as of 2025.  The state offers some of the lowest property tax rates in the U.S., making homeownership more affordable for many.  With a median home value in SC of $294,353 as of January 2025, many South Carolina homeowners are eligible for a reverse mortgage.  The state’s home values fall well within the HECM (Home Equity Conversion Mortgage) reverse mortgage lending limit of $1,209,750.

A Glimpse into South Carolina’s History and Economy

South Carolina boasts a rich and storied history, from its early settlement by the Spanish in the 1500s to its pivotal role in the American Revolution.  Nearly a third of all Revolutionary War battles were fought on South Carolina soil, solidifying the state’s place in the nation’s early history.

The state’s economy has evolved dramatically over the years.  Once dominated by cotton during the Antebellum period, South Carolina’s industries now include textiles, agriculture, and aerospace manufacturing.  The state’s agriculture sector remains strong, particularly in peach production.  South Carolina is second only to California in the U.S. for peach production and celebrates its heritage with an annual Peach Festival in Gaffney.

Natural Beauty and Senior Living in South Carolina

The state’s diverse geography includes the Atlantic coastal plain, the Piedmont region, and the Blue Ridge Mountains, offering residents abundant natural beauty.  South Carolina provides the perfect backdrop for retirees seeking relaxation and adventure from beaches to mountain trails.

Essential Protections for South Carolina Borrowers

South Carolina adheres to federal reverse mortgage regulations established by the U.S. Department of Housing and Urban Development (HUD) while enforcing general consumer protection laws to safeguard borrowers.  Here’s what you need to know about the protections in place for reverse mortgage borrowers in South Carolina:

Mandatory Counseling:
Before applying for a reverse mortgage, you must complete a HUD-approved counseling session.  This ensures you fully understand the loan’s terms, costs, and potential alternatives.  Counseling can be done over the phone or in person, and you must provide the certificate of completion to your lender.

Cooling-Off Period:
Federal regulations include a mandatory waiting period between completing counseling and closing on the loan.  This gives you time to carefully review the terms, discuss the decision with family or advisors, and confirm that a reverse mortgage aligns with your financial goals.

No Tied Financial Products:
Lenders in South Carolina cannot require you to purchase additional financial products, such as annuities or insurance, as a condition of obtaining a reverse mortgage.  This safeguard ensures the loan process is transparent and free from unnecessary financial pressure.

Clear Disclosures:
Lenders must provide clear and detailed disclosures about the loan’s terms, including interest rates, fees, and repayment responsibilities.  They must also remind you that you remain responsible for property taxes, homeowners insurance, and home maintenance.  Failure to meet these obligations could result in foreclosure.

Licensed Lenders:
All reverse mortgage lenders in South Carolina must be licensed to operate within the state.  This ensures they meet South Carolina’s standards for transparency, professionalism, and ethical practices.

Non-Recourse Loans:
Reverse mortgages in South Carolina are non-recourse loans, meaning neither you nor your heirs will owe more than the home’s value when the loan is repaid.  This protection ensures peace of mind, knowing you won’t be burdened with excess debt if the loan balance exceeds the home’s worth.

Spousal Protections:
For borrowers with a non-borrowing spouse, South Carolina lenders must adhere to federal HUD guidelines.  These protections ensure that eligible non-borrowing spouses can remain in the home after the borrowing spouse passes away or moves out, provided certain requirements are met.

HUD-Approved Reverse Mortgage Counseling Agencies in South Carolina

Did you know?  South Carolina does not mandate in-person counseling.  Visit our counseling page for a list of phone-based counseling agencies, and you can conduct your required counseling from the comfort of your home.

Other Areas of Interest in SC

Charleston Columbia

Ready to Unlock Your Home’s Equity?

As South Carolina’s #1 Rated Reverse Mortgage Lender, All Reverse Mortgage, Inc. (ARLO™) is here to provide trusted guidance, real-time rates, and expert support to help you make informed decisions.

✔ No obligations. Just real-time rates and expert advice.
✔ Instant quote. No personal info required.
✔ Licensed experts. Get clear, honest answers.

As a fully licensed lender by the South Carolina Board of Financial Institutions (License #MLS-1048681), we’re committed to helping you secure the retirement you deserve.

Get Your Free Quote from South Carolina’s #1 Rated Reverse Mortgage Lender! Use our reverse mortgage calculator, or call (800) 565-1722 to speak with a friendly expert today.

Additional Resources:
Reversemortgage.org NRMLA Members in SC: https://www.reversemortgage.org/Find-a-Lender/state/SC
HUD.GOV Approved Lenders Search: https://www.hud.gov/program_offices/housing/sfh/lender/lenderlist