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Compare Current Moncks Corner, South Carolina Mortgage Rates
Compare Moncks Corner, SC mortgage rates and fees from top lenders. 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 lowest mortgage rates in Moncks Corner.
We recommend that you contact at least five lenders as shopping multiple lenders is the best way to save money on your mortgage in Moncks Corner. Plus, shopping lenders is free and there is no obligation.
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Moncks Corner, SC Mortgage Rates as of February 8, 2023
Loan terms assume conforming mortgage amount on single family residence, 80% LTV ratio and minimum borrower credit score of 740. $150,000 minimum mortgage amount. Borrower is responsible for $1,055 lender fee. Loan terms are subject to change without notice.
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Compare Today's Moncks Corner, SC Mortgage Rates
February 8, 2023
Current mortgage rates in Moncks Corner, SC are % for a 30 year fixed rate loan, % for a 15 year fixed loan and % for a 5/1 adjustable rate mortgage (ARM)
Mortgage Program
Today's Moncks Corner, SC Rates
National Average
Comparison
30 Year Fixed Rate
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6.090%
15 Year Fixed Rate
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5.140%
5/1 Adjustable Rate Mortgage
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5.125%
How Affordable is Housing in Moncks Corner, South Carolina?
Below we provide helpful information on the real estate market, home prices and housing affordability in Moncks Corner. Understand how much you need to earn to afford a home in Moncks Corner, including the mortgage you need to qualify for. Review the monthy payment so you can determine if owning a house in Moncks Corner 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 Moncks Corner is right for you.
The median home value for Moncks Corner, SC (Berkeley County) is $269,160
Based on current mortgage rates and a 10% down payment, you need to make $44,101 per year to buy the median priced home in Moncks Corner
With this income, you could qualify for a $242,244 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 Moncks Corner is $1,021
The median household income for Moncks Corner, SC (Berkeley County) is $75,010
Based on this income, you can afford a home valued at approximately $457,810
The home price you can afford to buy based on household income in Moncks Corner is 170% of the median home value which means housing prices are average.
Moncks Corner (Berkeley County) ranks 35 out of 46 counties in South Carolina and 2,303 out of 3,142 counties in the United States for housing affordability.
According to the FREEandCLEAR Housing Affordability Index, the housing market in Moncks Corner, SC is average
Loan Limits for Moncks Corner, South Carolina
Mortgage limits affect your loan terms, mortgage program eligibility and what price home you can afford. Review the loan limits for Moncks Corner (Berkeley County) below.
Conforming loan limits for Moncks Corner, SC
1 unit:$647,200
2 units:$828,700
3 units:$1,001,650
4 units:$1,244,850
FHA loan limits for Moncks Corner, SC
1 unit:$473,800
2 units:$606,550
3 units:$733,150
4 units:$911,150
VA loan limits for Moncks Corner, SC
1 unit:$647,200
Additional Mortgage Resources for Moncks Corner, SC Residents