Compare mortgage rates and fees for leading lenders in Moncks Corner, 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 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.
August 13, 2020
The current average rate for a 30 year fixed rate mortgage in Moncks Corner 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%
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 $213,194
Based on current mortgage rates and a 10% down payment, you need to make $38,369 per year to buy the median priced home in Moncks Corner
With this income, you could qualify for a $191,875 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 $889
The median household income for Moncks Corner, SC (Berkeley County) is $59,795
Based on this income, you can afford a home valued at approximately $332,242
The home price you can afford to buy based on household income in Moncks Corner is 156% of the median home value which means housing prices are average. Moncks Corner (Berkeley County) ranks 34 out of 46 counties in South Carolina and 2,433 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
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
FHA loan limits for Moncks Corner, SC
VA loan limits for Moncks Corner, SC