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South Carolina

Current South Carolina Mortgage Rates

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.

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Mortgage Rates for South Carolina as of April 5, 2020
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Data provided by Informa Research Services. Payments do not include amounts for taxes and insurance premiums. Click for more information on rates and product details.
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How Do Today's South Carolina Mortgage Rates Compare?

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%

Mortgage Program
Today's
South Carolina Rates
National
Average
Comparison
30 Year Fixed Rate
A.AAA%
3.650%
15 Year Fixed Rate
B.BBB%
3.090%
5/1 Adjustable Rate Mortgage
C.CCC%
3.390%

How Affordable is Housing in South Carolina?

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

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Additional Mortgage Resources for South Carolina Residents

Mortgage Rates for South Carolina Cities

Aiken Mortgage Rates

Anderson Mortgage Rates

Charleston Mortgage Rates

Columbia Mortgage Rates

Florence Mortgage Rates

Greenville Mortgage Rates

Hilton Head Island Mortgage Rates

Lancaster Mortgage Rates

Lexington Mortgage Rates

Moncks Corner Mortgage Rates

Myrtle Beach Mortgage Rates

Pickens Mortgage Rates

Spartanburg Mortgage Rates

St. George Mortgage Rates

Sumter Mortgage Rates

York Mortgage Rates