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Lexington

Current Mortgage Rates in Lexington, South Carolina

Compare mortgage rates and fees for leading lenders in Lexington, 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 Lexington.

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

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Mortgage Rates in Lexington, SC as of April 6, 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 Lexington, SC Mortgage Rates Compare?

April 6, 2020

The current average rate for a 30 year fixed rate mortgage in Lexington 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
Lexington, SC 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 Lexington, South Carolina?

Below we provide helpful information on the real estate market, home prices and housing affordability in Lexington. Understand how much you need to earn to afford a home in Lexington, including the mortgage you need to qualify for. Review the monthy payment so you can determine if owning a house in Lexington fits your budget. This information is based on proprietary analysis you can only find on FREEandCLEAR and we offer it to help you decide if living in Lexington is right for you.

The median home value for Lexington, SC is $186,005

Based on current mortgage rates and a 10% down payment, you need to make $33,476 per year to buy the median priced home in Lexington

With this income, you could qualify for a $167,404 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 Lexington is $775

The median household income for Lexington, SC is $60,623

Based on this income, you can afford a home valued at approximately $336,842

The home price you can afford to buy based on household income in Lexington is 181% of the median home value which means housing prices are average. Lexington ranks 26 out of 46 counties in South Carolina and 1,933 out of 3,142 counties in the United States for housing affordability.

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

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Loan Limits for Lexington, South Carolina

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

Conforming loan limits for Lexington, SC

1 unit: $510,400
2 units: $653,550
3 units: $789,950
4 units: $981,700

FHA loan limits for Lexington, SC

1 unit: $331,760
2 units: $424,800
3 units: $513,450
4 units: $638,100

VA loan limits for Lexington, SC

1 unit: $510,400

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