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Moncks Corner

Current Mortgage Rates in Moncks Corner, South Carolina

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.

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Mortgage Rates in Moncks Corner, SC as of March 31, 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 Moncks Corner, SC Mortgage Rates Compare?

March 31, 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%

Mortgage Program
Today's
Moncks Corner, 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 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 $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

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

FHA loan limits for Moncks Corner, SC

1 unit: $391,000
2 units: $500,550
3 units: $605,050
4 units: $751,900

VA loan limits for Moncks Corner, SC

1 unit: $510,400

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