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.
April 5, 2020
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%
Below we offer valuable insights on the housing market and real estate prices in South Carolina. Understand how much you need to make to buy a house in South Carolina, including the mortgage you need. Review the monthy loan payment so you can determine if home ownership in South Carolina is affordable for you. We provide this helpful information to help you decide if living in South Carolina is right for you.
The median home value for South Carolina is $198,795
Based on current mortgage rates and a 10% down payment, the income required to buy the median priced home in South Carolina is $35,778
With this income, you could qualify for a $178,916 mortgage, assuming your monthly debt expense is reasonable
Based on this loan amount, the monthly mortgage payment required to buy the median priced home in South Carolina is $829
The median household income for South Carolina is $52,101
Based on this income, you can afford a home valued at approximately $289,491
The home price you can afford to buy based on household income in South Carolina is 146% 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