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Anderson

Current Mortgage Rates in Anderson, South Carolina

Compare mortgage rates and fees for leading lenders in Anderson, SC. Review free, personalized mortgage rates based on your specifc loan amount, program and other factors. Easily compare APRs, closing costs and monthly payments to find the lender offering the best mortgage rates in Anderson.

We recommend that you contact at least five lenders as shopping multiple lenders is the best way to save money on your mortgage in Anderson. Plus, shopping lenders is free and there is no obligation.

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Mortgage Rates in Anderson, SC as of November 13, 2019
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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.

How Do Today's Anderson, SC Mortgage Rates Compare?

November 13, 2019

The current average rate for a 30 year fixed rate mortgage in Anderson 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
Anderson, SC Rates
National
Average
Comparison
30 Year Fixed Rate
A.AAA%
3.690%
15 Year Fixed Rate
B.BBB%
3.150%
5/1 Adjustable Rate Mortgage
C.CCC%
3.350%

How Affordable is Housing in Anderson, South Carolina?

The median home value for Anderson, SC is $156,575

The median household income for Anderson, SC is $46,944

Based on current mortgage rates and a 10% down payment, you need to make $29,050 per year to buy the median priced home in Anderson

The home price you can afford to buy based on household income in Anderson is 162% of the median home value which means housing prices are average

Anderson ranks 32 out of 46 counties in South Carolina and 2,354 out of 3,142 counties in the United States for housing affordability.

According to the FREEandCLEAR Housing Affordability Index, the housing market in Anderson, SC is average

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Loan Limits for Anderson, South Carolina

Mortgage limits affect your loan terms, mortgage program eligibility and what price home you can afford. Review the loan limits for Anderson below.

Conforming loan limits for Anderson, SC

1 unit: $484,350
2 units: $620,200
3 units: $749,650
4 units: $931,600

FHA loan limits for Anderson, SC

1 unit: $314,827
2 units: $403,125
3 units: $487,250
4 units: $605,525

VA loan limits for Anderson, SC

1 unit: $484,350

Additional Mortgage Resources for Anderson, SC Residents

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Sources

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/

Conforming Loan Limits: https://www.fhfa.gov/DataTools/Downloads/Pages/Conforming-Loan-Limits.aspx

FHA Loan Limits: https://entp.hud.gov/idapp/html/hicostlook.cfm

VA Loan Limits: https://www.benefits.va.gov/homeloans/purchaseco_loan_limits.asp

FREEandCLEAR Housing Affordability Index