Compare mortgage rates and closing costs for leading lenders in South Carolina. Review free, personalized mortgage rates for South Carolina based on your specifc loan amount, program and other factors. Easily compare APRs, fees and monthly payments to find the lender offering the best mortgage terms.
We recommend that you contact at least five lenders as shopping multiple lenders is the best way to save money on your mortgage in South Carolina. Plus, shopping lenders is free and there is no obligation.
August 18, 2019
The current average rate for a 30 year fixed rate mortgage in South Carolina is A.AAA%, the rate for a 15 year fixed rate mortgage is B.BBB% and the rate for a 5/1 adjustable rate mortgage (ARM) is C.CCC%
The median home value for South Carolina is $186,561
The median household income for South Carolina is $50,912
Based on current mortgage rates and a 10% down payment, the income required to buy the median priced home in South Carolina is $34,613
The home price you can afford to by based on household income in South Carolina is 147% of the median home value which means housing prices are average. South Carolina ranks 24 out of 50 states for housing affordability.
According to the FREEandCLEAR Housing Affordability Index, the real estate market in South Carolina is average
Learn what price home you can afford to buy in South Carolina
US Census Bureau American Community Survey: https://www.census.gov/programs-surveys/acs
FHFA House Price Index: https://www.fhfa.gov/DataTools/Downloads/Pages/House-Price-Index-Datasets.aspx#qat
Income Growth: https://www.bls.gov
National Average Rates: http://www.freddiemac.com/pmms/
FREEandCLEAR Housing Affordability Index