Getting a jumbo loan may give you the financing you need to build the custom luxury home of your dreams, but it may be harder than getting a conventional construction loan. We can prepare the building plans you need to get approved for a jumbo loan in South Carolina and put it to work to create the home you’ve always wanted.
Mortgages typically have to conform to limits based on the county and size of the home. If you want to borrow more to build a larger home, you can apply for a jumbo loan. A good credit score, low-debt-to-income ratio, and an ability to make a big down payment can help you get approved for a jumbo loan in South Carolina.
To get started planning your new house in South Carolina with Blythe Custom Homes, go to our website today.
What is a Jumbo Loan in South Carolina?
A jumbo loan is just what it sounds like: a very big loan. While you can use a jumbo loan to purchase an extravagant house, you can also use one to construct your dream home.
Fannie Mae and Freddie Mac, the government-sponsored enterprises that buy most mortgages, set dollar limits on how large those mortgages can be. Loans that adhere to those limits are called “conforming loans.”
A jumbo loan exceeds the limits of conforming loans so that you can finance a much bigger project. You get a jumbo loan from a lender, just like you would a conventional mortgage or construction loan. Jumbo loans can also last 15, 20, or 30 years and can have fixed or adjustable interest rates.
How Do You Get a Jumbo Loan for a New Custom Build in South Carolina?
When you approach a lender for a jumbo loan, it’s important to have all your ducks in a row. Getting approved for a jumbo loan is harder than getting approved for a conforming loan since it’s riskier for the lender.
You’ll need the same financial records and documentation when applying for a jumbo loan as you would if you were applying for a conventional mortgage. You may need a higher credit score, however, and a favorable credit history overall.
If you need a jumbo loan to purchase land and build a new luxury home rather than purchase an existing one, it is even riskier for lenders. Having a low debt-to-income ratio, good credit score, and detailed construction plans ready to go may help you get approved, as might having cash reserves and a large income.
Do I Need a Jumbo Loan for My Custom Build?
You can use a jumbo loan to finance a custom build with high-end luxury finishes, which are the types of properties Blythe Custom Homes regularly builds throughout South Carolina.
The conforming loan limit that applies to you depends on your county and the size of the home you want to build. While this varies from county to county, the maximum conforming loan limit for single-family homes in South Carolina is $806,500 in 2025.
When you contact us about building your dream house, we can bring your vision to life. As you get a better idea of the size of home you need and the finishes you prefer, we can give you a detailed cost breakdown.
This can tell you whether or not a conforming loan will be sufficient to finance your new custom build or if you will need to apply for a jumbo loan. Whether or not you have already purchased the land may factor into that decision.
Do Jumbo Loans Finance More Than Construction?
If you are building an entirely new home, you do not need a conventional mortgage right away. Instead, you need a construction loan, preferably a construction-to-permanent loan. When you get a jumbo loan, it can finance construction and then turn into a traditional mortgage once the home is built.
You may also use a jumbo loan to purchase the land you want to build on if you do not already own it.
A construction-to-permanent jumbo loan makes your life easier since you just make interest-only payments during construction, after which you start paying principal and interest. Your initial payments may be lower, and it may be easier for us to budget for your new custom build.
How Big is the Down Payment for a Jumbo Loan in South Carolina?
You can expect the down payment for your jumbo loan to be sizeable. The down payment for conforming loans is generally 3% of the purchasing price, which will not be the case if you get a jumbo loan.
How big your down payment for a jumbo loan is depends largely on your lender. Some lenders will require down payments in the 5% to 10% range, while others may require up to 20% down payments.
The down payment for a jumbo loan to finance a new build may be larger than the down payment for a jumbo loan to purchase an existing luxury home.
Building Your Custom Home with a Jumbo Loan in South Carolina
We help clients make their dream homes a reality and can work hard to stay on budget. Even if you get approved for a jumbo loan and can include all the high-end finishes and features you want, keeping an eye on the budget remains important.
You’ll get specifications and building costs once we settle on the plans for your custom build. Pinning down major features and finishes is important, as that can keep the project on budget. Some smaller decisions can be made later during walkthroughs with vendors, letting you hone your vision even further.
We will take you on walkthroughs and give you regular updates so you can also keep your lender informed of the progress.
Build Your Custom Home with Us in South Carolina
Visit us online to start building with Blythe Custom Homes in South Carolina.
