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Myrtle Beach

Current Mortgage Rates in Myrtle Beach, South Carolina

Compare mortgage rates and fees for leading lenders in Myrtle Beach, 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 Myrtle Beach.

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

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Mortgage Rates in Myrtle Beach, SC as of September 22, 2019
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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.

How Do Today's Myrtle Beach, SC Mortgage Rates Compare?

September 22, 2019

The current average rate for a 30 year fixed rate mortgage in Myrtle Beach 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
Myrtle Beach, SC Rates
National
Average
Comparison
30 Year Fixed Rate
A.AAA%
3.600%
15 Year Fixed Rate
B.BBB%
3.050%
5/1 Adjustable Rate Mortgage
C.CCC%
3.360%

How Affordable is Housing in Myrtle Beach, South Carolina?

The median home value for Myrtle Beach, SC (Horry County) is $194,216

The median household income for Myrtle Beach, SC (Horry County) is $47,896

Based on current mortgage rates and a 10% down payment, you need to make $36,033 per year to buy the median priced home in Myrtle Beach

The home price you can afford to buy based on household income in Myrtle Beach is 133% of the median home value which means housing prices are average

Myrtle Beach (Horry County) ranks 44 out of 46 counties in South Carolina and 2,762 out of 3,142 counties in the United States for housing affordability.

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

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Loan Limits for Myrtle Beach, South Carolina

Mortgage limits affect your loan terms, mortgage program eligibility and what price home you can afford. Review the loan limits for Myrtle Beach (Horry County) below.

Conforming loan limits for Myrtle Beach, SC

1 unit: $484,350
2 units: $620,200
3 units: $749,650
4 units: $931,600

FHA loan limits for Myrtle Beach, SC

1 unit: $314,827
2 units: $403,125
3 units: $487,250
4 units: $605,525

VA loan limits for Myrtle Beach, SC

1 unit: $484,350

Additional Mortgage Resources for Myrtle Beach, SC Residents

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Sources

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