Compare mortgage rates and fees for leading lenders in Florence, 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 Florence.
We recommend that you contact at least five lenders as shopping multiple lenders is the best way to save money on your mortgage in Florence. 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 Florence 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 Florence, SC is $132,683
The median household income for Florence, SC is $44,634
Based on current mortgage rates and a 10% down payment, you need to make $24,617 per year to buy the median priced home in Florence
The home price you can afford to buy based on household income in Florence is 181% of the median home value which means housing prices are average
Florence ranks 26 out of 46 counties in South Carolina and 1,948 out of 3,142 counties in the United States for housing affordability.
According to the FREEandCLEAR Housing Affordability Index, the housing market in Florence, SC is average
Mortgage limits affect your loan terms, mortgage program eligibility and what price home you can afford. Review the loan limits for Florence below.
Conforming loan limits for Florence, SC
FHA loan limits for Florence, SC
VA loan limits for Florence, 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