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.
September 22, 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%
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
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
FHA loan limits for Anderson, SC
VA loan limits for Anderson, SC
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