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Sumter

Current Mortgage Rates in Sumter, South Carolina

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

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

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Mortgage Rates in Sumter, SC as of January 18, 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 Sumter, SC Mortgage Rates Compare?

January 18, 2020

The current average rate for a 30 year fixed rate mortgage in Sumter 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
Sumter, SC Rates
National
Average
Comparison
30 Year Fixed Rate
A.AAA%
3.690%
15 Year Fixed Rate
B.BBB%
3.150%
5/1 Adjustable Rate Mortgage
C.CCC%
3.350%

How Affordable is Housing in Sumter, South Carolina?

Below we provide helpful information on the real estate market, home prices and housing affordability in Sumter. Understand how much you need to earn to afford a home in Sumter, including the mortgage you need to qualify for. Review the monthy payment so you can determine if owning a house in Sumter 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 Sumter is right for you.

The median home value for Sumter, SC is $144,680

Based on current mortgage rates and a 10% down payment, you need to make $26,039 per year to buy the median priced home in Sumter

With this income, you could qualify for a $130,212 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 Sumter is $603

The median household income for Sumter, SC is $44,238

Based on this income, you can afford a home valued at approximately $245,802

The home price you can afford to buy based on household income in Sumter is 170% of the median home value which means housing prices are average. Sumter ranks 29 out of 46 counties in South Carolina and 2,173 out of 3,142 counties in the United States for housing affordability.

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

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Loan Limits for Sumter, South Carolina

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

Conforming loan limits for Sumter, SC

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

FHA loan limits for Sumter, SC

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

VA loan limits for Sumter, SC

1 unit: $510,400

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