Home Values in Spartanburg County

*From 2022 public Census data

Interesting Mortgage Facts in Spartanburg County

• The average loan amount in Spartanburg County was $238,135 whereas the median loan amount was $205,000
• 11% percent of all loans in Spartanburg County were used for "cash out refinancing" (863 out of 8000 total loans were cash-out refi loans)
• 22% percent of all mortgages in Spartanburg County were FHA loans (1722 out of 8000 total loans were FHA loans)
• 8% percent of all mortgages in Spartanburg County were VA (Veterans Affairs) loans (647 out of 8000 total loans were VA loans)
• 6.55% percent of the population in Spartanburg County were veterans (17437 out of 266059 people were US military veterans)
• The biggest residential mortgage loan funded in Spartanburg County was $3,005,000!
• The average interest rate in Spartanburg County was 6.40% (30-year mortgages of $200,000 or more)
• The lowest interest rate given to a borrower on a 30-year mortgage of $200,000 or more was 2.990%
• The highest interest rate given to a borrower on a 30-year mortgage of $200,000 or more was 11.300%
• The average rate spread in Spartanburg County was 0.122% (30-year mortgages of $200,000 or more)
• The 25-34 age bracket made up the largest group of borrowers at 25% of all loans in Spartanburg County

*From 2023 public data reported by lenders as required by the Home Mortgage Disclosure Act (HMDA) and from 2022 public Census data

Conforming Loan Limits - Spartanburg County, SC

The Conforming Loan Limits for Spartanburg County, South Carolina are shown below.

FHA Loan Limits - Spartanburg County, SC (for 2025)

The 2025 FHA loan limits for Spartanburg County, South Carolina are described below.

Home Possible® Freddie Mac Loan Limits - Spartanburg County, SC

Eligibility for Freddie Mac's Home Possible® mortgage loan requires that your income is $64,160 or less if you are buying a home in Spartanburg County, South Carolina.

Homebuyers that earn 80% or less than the median income for their area (AMI - Area Median Income) generally are eligible for the Home Possible loan. Also, Freddie Mac has a special down payment assistance program that runs until February 28, 2025 for people that earn 50% or less than the median income. This is considered "very low income" by Freddie Mac. If you're in the very low income range, you're eligible for a $2500 down payment credit from Freddie Mac.

• Home Possible eligibility income limit in Spartanburg County, SC: $64,160
• Income limit for the $2500 down payment credit in Spartanburg County, SC: $40,100 per year

*For the most accurate income limits for the Freddie Mac Home Possible® loan and down payment assistance, please visit the Home Possible® Income and Property Eligibility Tool

Own or Rent in Spartanburg County?

*From 2022 public Census data

Household incomes in Spartanburg County

• Typical household income in Spartanburg County (median income): $57,755
• Number of homes with income between $20K - $40K: 25,005
• Number of homes with income between $40K - $60K: 26,242
• Number of homes with income between $60K - $100K: 30,133
• Number of homes with income between $100K - $150K: 18,203
• Number of homes with income between $150K - $200K: 7,925
• Number of homes with income over $200K: 7,444

*From 2022 public Census data

The people of Spartanburg County, SC

*From 2022 public Census data

Borrower complaints in Spartanburg County

Date of Complaint: 2/13/2025
ZIP code of borrower: 29349 (INMAN, SC)
Company/Lender: TRUIST FINANCIAL CORPORATION
Issue or Problem: Incorrect information on your report (Account status incorrect)
I was affected by XXXX XXXX ( which was declared a natural disaster for my area ) on XX/XX/XXXX. XXXX. I requested assistance from my mortgage company, Truist, on XX/XX/XXXX. They explained the forbearance option and I answered a serious of questions with the representative on the phone. I was then told that I would be entered into the forbearance and would not have a payment due until XX/XX/XXXX. In XXXX of XXXX, I received a phone call from the collections department at Truist, asking for a payment. I explained that I was in a forbearance and my payment was not supposed to be due until XX/XX/XXXX. The representative reviewed my account and said that it does not show that the account was in forbearance but that he would fix the issue and mail me a packet of paperwork that I would need to sign to agree to the forbearance. I asked specifically if this was going to hinder my credit score to which I was told " No, I will have this rectified and it will not effect your score. '' In XXXX of XXXX, I received a notification from XXXX that my XXXX XXXX had dropped XXXX points due to a 90 day late payment being reported. I called Truist immediately to ask why and filed a dispute on XX/XX/XXXX. The representative told me it was an error in their system and that's why it did not report for XXXX or XXXX but reported late for XXXX She explained that there would be no issues fixing the report. I am in the process of trying to make a large purchase for my business and this is hindering that EXTREMELY. I've also had 4 credit card companies send me notification that they have lowered my credit limits ( by thousands ) because of serious delinquency being reported and one company actually closed my {$12000.00} account completely. This seems completely unfair as I have absolutely no control over this matter and it was a mistake on the mortgage company 's side.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response

Date of Complaint: 12/29/2024
ZIP code of borrower: 29301 (SPARTANBURG, SC)
Company/Lender: Rocket Mortgage, LLC
Issue or Problem: Closing on a mortgage (Trying to communicate with the company to fix an issue with the loan closing)
Contact to sell XXXX. Contract was for XX/XX/24. Appraiser said and provided appraisal for XX/XX/24. Wrong date. Comps were wrong. One comp was not even a sale. It is still for sale. Appraiser lied on appraisal. I informed Rocket about it. No response. No new appraisal. Appraiser said property was XXXX less than contact price. I called XXXX number of Rocket. Person from Rocket, not management or loan officers looked up property and saw where all online companies such as XXXX, XXXX, XXXX had property price at XXXX to XXXX. Ok those sites are not completely accurate but they would not be off XXXX sense their algorithms pull from tax and MLS system and county sales information to come up with a range. Even the online Rocket person said something was wrong but no one called me back. Rocket contacted buyer agent to say we asked the appraiser to look at it and of course the bad appraiser said it is correct : XXXX less. So Rocket is not going to order new appraisal just go with appraiser 's lie. False appraisals seem to be common and I guess Rocket is in the kick back business with appraisers too.

Date of Complaint: 12/20/2024
ZIP code of borrower: 29303 (SPARTANBURG, SC)
Company/Lender: HSBC NORTH AMERICA HOLDINGS INC.
Issue or Problem: Struggling to pay mortgage (Trying to communicate with the company to fix an issue related to modification, forbearance, short sale, deed-in-lieu, bankruptcy, or foreclosure)
The last payment made and received by HFC was XX/XX/year>. Why did HFC/HSBC charge off a loan that was not in default? Why did HSBC wait 7 months before selling this loan instead of taking any action to recover or collect payment. This loan was sent to XXXX XXXX XXXX XXXX in XXXX of XXXX with no action taken. In XXXX XX/XX/year> I received a phone call because the payment was late. I spoke with the person who called me briefly to tell them my situation before being transferred to any lady and her department. She recommended I apply for a Hardship given my current financial situation that I shared with her in our conversation. She said she would mail me the application forms and to send them back to her. She instructed me to put Attn : ( her name ) on the outside of the envelope so it would go to her office. I received a phone call from her about a week later informing me that I had been approved and given a hardship and she would mail the letter to me. She instructed me to have it notarized and keep in a safe place with other important documents. My home is being foreclosed on and I have done nothing wrong. The loan was not in default, nor was it ever in default yet it was charged off and I never heard from HFC again after my last phone conversation with the lady who mailed my hardship award letter. I simply want a copy of the Hardship Discharge letter. There's no other explanation as to what took place. Why would your company charge off a loan that had just a late payment ( XXXX ) and never in default?

Date of Complaint: 4/23/2024
ZIP code of borrower: 29651 (GREER, SC)
Company/Lender: Shellpoint Partners, LLC
Issue or Problem: Trouble during payment process (Escrow, taxes, or insurance)
My mother had her XXXX home mortgage through XXXX XXXX XXXX. She passed away XXXX XX/XX/2022, leaving her home to my sister and I. I am the executor of her estate. Her home was sold and the mortgage paid in full. I have a copy of the lien release from the mortgage company. An escrow refund check was mailed, but in the upheaval of selling the home ( which I was living in with her at the time ), moving, and grieving her death, the check was misplaced. I just found it about two months ago. Since the check is more than 180 days old, it is void and the bank will not cash it. I have since found that XXXX acquired XXXX XXXX XXXX. I have sent several emails and talked to numerous agents over the past XXXX weeks trying to get a replacement check issued. Only one agent has been able to find any record of the loan ( and I can't reach her again. ) She gave me another number to call that went straight to a voicemail. None of the emails I have sent or voicemail messages I have left have received a response, or even an acknowledgement that they had been received. The last call I made, the overseas agent gave me another number to call. I was connected to XXXX XXXX XXXX ... an autobody repair shop chain. I have my mother 's death certificate, her Last Will and Testament, the lien release from the mortgage company , the closing documents and settlement statement from the sale of her home, and the unendorsed, undeposited original check. It would not seem that this would be such a difficult problem to resolve, but I'm not getting anywhere and need help. I have found on XXXX and other review sites that XXXX is a terrible company with which to do business, and escrow refunds are a frequently mentioned problem.
Company Response: Company believes it acted appropriately as authorized by contract or law

Date of Complaint: 3/9/2024
ZIP code of borrower: 29349 (INMAN, SC)
Company/Lender: AmeriHome Mortgage Company, LLC
Issue or Problem: Applying for a mortgage or refinancing an existing mortgage (Application denials)
Mortgage Company : AmeriHome XXXX XXXX At the beginning of XXXX, I called my mortgage company to get my ex-wife 's name off of my mortgage because we are going through a divorce and she does not want to keep the house. The man I talked to ( XXXX XXXX ) decided that I needed to re-finance the loan. So we went through this terribly long process to re-finance the mortgage to be just under MY name... This is a loan I am ALREADY paying {$930.00} per month, with no issue, and a track record of paying on time for nearly a full year. What doesn't make sense to me, is, even though I pay the mortgage without my ex-wife 's support, apparently my income is insufficient... But the re-financed mortgage would have been about {$630.00} a month as opposed to the CURRENT loan that I have for {$930.00} a month. This started with me ONLY asking to get my ex-wife 's name OFF of the mortgage and to get a quick-claim. XXXX months later, the re-financing has been denied and I am back at square one, and NOBODY is returning ANY emails or phone calls to me.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response

Date of Complaint: 3/4/2024
ZIP code of borrower: 29349 (INMAN, SC)
Company/Lender: TRUHOME SOLUTIONS, LLC
Issue or Problem: Trouble during payment process (Escrow, taxes, or insurance)
On XX/XX/XXXX I sent email to my mortgage provider to remove my escrow account. on XX/XX/XXXX, they responded back that there was a {$250.00} fee to remove it. Since I did not find any fees listed in my mortgage documents, I requested the justification for the fee. They explained that it is policy to charge the fee. I again reminded them that I voluntarily opted-in for the escrow account and I do not have any fees listed in the signed mortgage documents so please to waive the fee. On XXXX, they insisted that it is required in order to opt-out of the escrow account.
Company Response: Company believes it acted appropriately as authorized by contract or law

*From public CFPB data

Top 5 mortgage companies doing the most loans to Asians in Spartanburg County

*From 2023 public data reported by lenders as required by the Home Mortgage Disclosure Act (HMDA)
*Includes loans where the applicant race was reported as one of the following: Asian, Native Hawaiian or Other Pacific Islander, Asian Indian, Chinese, Filipino, Japanese, Korean, Vietnamese, Other Asian, Native Hawaiian, Other Pacific Islander

Top 5 mortgage companies doing the most loans to Blacks in Spartanburg County

*From 2023 public data reported by lenders as required by the Home Mortgage Disclosure Act (HMDA)

Top 5 mortgage companies doing the most loans to Hispanics in Spartanburg County

*From 2023 public data reported by lenders as required by the Home Mortgage Disclosure Act (HMDA)

Top 5 mortgage companies doing the most loans to Whites in Spartanburg County

*From 2023 public data reported by lenders as required by the Home Mortgage Disclosure Act (HMDA)