Blog ·
4 Strong Construction Loan Options in South Carolina, From the Upstate to the Lowcountry
South Carolina builds range from a lake house in the Upstate to a home on pilings near Charleston, and the right lender often depends on which end of the state you're in. Four strong construction loan options for South Carolina are CPM Federal Credit Union, Family Trust Federal Credit Union, SAFE Federal Credit Union, and TD Bank. All four publish construction-to-permanent programs that roll the build and the mortgage into one loan.
Disclosure: My Construction Path may be affiliated with, or receive compensation from, lenders featured in this article. Lenders are listed alphabetically, not ranked. Programs and availability change, so confirm details with each lender.
Our selection criteria
To be included, a lender's own website had to show:
- South Carolina lending for residential construction
- One loan that converts to a permanent mortgage, without a separate second loan
- A described draw process for paying the builder
- Stated rules on land, property type, or insurance, such as flood coverage
Everything below is sourced from lender pages or reputable third-party coverage.
Comparison at a glance
| Lender | Home base / reach | One-time close | Land & lot | Builder & draws |
|---|---|---|---|---|
| CPM Federal Credit Union | North Charleston | Yes, conforming and jumbo | Lot can be financed in the same loan | Builder submits monthly draw requests |
| Family Trust FCU | Rock Hill, York, Fort Mill and Greenville areas | Rolls into a permanent mortgage | No land seasoning requirement; lot loans offered | Staged draws based on work completed |
| SAFE Federal Credit Union | SC credit union; program built for SC homes | Yes | Not specified on program page | Disbursements during construction |
| TD Bank | Loan officers from Greenville to Hilton Head | Yes | Existing lot loan paid off at first draw | Inspection at each draw; builder review |
CPM Federal Credit Union
Who it fits: Lowcountry members who want one loan to cover the lot, the build, and the mortgage.
CPM's Construction to Permanent (C2P) loan uses a single loan to finance the lot, construction costs, and permanent mortgage. The loan program and rate are set when the construction loan closes, and the same program and rate carry into the permanent loan.
Get connected with this lender
Notable features:
- Conforming and jumbo C2P programs
- How interest is handled during the build varies by lender.
- Your builder submits monthly draw requests as work progresses
- Automatic conversion to a permanent mortgage at completion
CPM is based in North Charleston, and its checklist encourages borrowers to think through build location, floor plan, approximate costs, and a qualified builder before applying.
Family Trust Federal Credit Union
Who it fits: Members in York County and the Upstate building a primary residence, including on land they've recently bought.
Family Trust's construction loans provide financing throughout construction and roll into a permanent mortgage once the home is complete. Family Trust markets its construction loans in Rock Hill, Clover, York, Fort Mill, and Greenville.
Get connected with this lender
Notable features:
- Fixed-rate and adjustable-rate options
- No land seasoning requirement if you bought your land recently
- Loans are for primary-residence construction, and lot and land loans are available if you're still shopping for land
- Construction draws are paid in stages based on work completed
- Options for financing major renovation projects
Family Trust notes that property insurance is required and flood insurance is required where applicable.
SAFE Federal Credit Union
Who it fits: Members who want to lock their rate and close before a shovel hits the ground.
SAFE's construction-to-permanent mortgage is built for financing a new home in South Carolina with only one application and one closing. SAFE says you can lock your rate and close your loan before construction starts.
Get connected with this lender
Notable features:
- Loan funds are disbursed during construction; how interest is handled during the build varies by lender
- Your regular mortgage, plus escrows if applicable, begins only once construction is complete and the loan converts
- Credit union membership and eligibility are required
TD Bank
Who it fits: Borrowers on the coast or in the Midlands who want a bank with local loan officers and a clear draw process.
TD's construction-to-permanent loan covers new construction and renovations with one application and one closing, converting to the permanent mortgage once the home is complete and a certificate of occupancy is provided. TD lists mortgage loan officers in South Carolina in Aiken, Columbia, Greenville, Hilton Head, Lexington, and Mount Pleasant.
Get connected with this lender
Notable features:
- 1-4 unit primary residences and second or vacation homes
- A loan already on your lot is paid off with the first disbursement
- Inspection at every draw request, and a review of the builder's financial statements, license, and insurance
TD doesn't currently offer FHA or VA construction loans, or construction financing for condos or co-ops.
Other South Carolina lenders to consider
Truliant Federal Credit Union offers a single-closing construction loan available in North Carolina, South Carolina, and Virginia only. Citizens lists South Carolina among its construction-to-permanent states, and Truist offers one-loan, one-closing construction financing and has branches across South Carolina.
Get connected with Truliant Federal Credit UnionGet connected with CitizensGet connected with Truist
How to choose a South Carolina construction lender
For the full checklist, including questions to ask and how to check a lender's license, see how to choose a construction-to-permanent lender in South Carolina.
- Know your zone. On the coast, check your lot against South Carolina's Know Your Zone hurricane evacuation and storm surge map and FEMA flood maps, then ask each lender what insurance it requires before the first draw.
- Check membership early. Three of these four lenders are credit unions with their own eligibility rules.
- Ask about land timing. If you just bought your lot, ask whether the lender has a seasoning requirement. Family Trust says it doesn't.
- Clarify the close. Confirm the loan converts without a second closing, and ask what's needed to convert to a permanent mortgage after the build.
- Plan for larger loans. If you're building near the water or on a large lot, read our guide to jumbo construction loans and ask about jumbo options like CPM's.
Frequently asked questions
Which lenders offer construction-to-permanent loans in South Carolina?
CPM Federal Credit Union, Family Trust Federal Credit Union, SAFE Federal Credit Union, and TD Bank all describe construction loans that convert to permanent mortgages, and Truliant and Citizens also list South Carolina availability.
Do I need flood insurance to build on the coast?
Often, yes. Family Trust says flood insurance is required where applicable. Check your lot's flood zone and ask each lender when coverage must start.
Can I use land I just bought?
It depends on the lender. Family Trust says it has no land seasoning requirement for previous land ownership, and CPM can finance the lot inside the same loan.
Can I get a jumbo construction loan in South Carolina?
Yes. CPM Federal Credit Union offers conforming and jumbo construction-to-permanent programs.
Can I build a vacation home?
Some lenders allow it. TD's program covers second or vacation homes, while Family Trust's construction loan is for primary residences.
Find your South Carolina construction lender
Your best fit depends on your county, your builder, and how close to the water you're building. Get connected with a construction lender at My Construction Path to compare construction loan options for your land, budget, and timeline, and see which builder-friendly lenders serve your area.
My Construction Path may be affiliated with lenders featured in this article. Lender programs, eligibility, and service areas change often and vary by location. This article is for general education and is not a commitment to lend. All loans are subject to credit and property approval by the lender.