Compare Sumter, 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 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.
February 8, 2023
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 $151,826
Based on current mortgage rates and a 10% down payment, you need to make $24,876 per year to buy the median priced home in Sumter
With this income, you could qualify for a $136,644 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 $576
The median household income for Sumter, SC is $55,151
Based on this income, you can afford a home valued at approximately $336,606
The home price you can afford to buy based on household income in Sumter is 222% of the median home value which means housing prices are affordable. Sumter ranks 15 out of 46 counties in South Carolina and 1,296 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 affordable
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
FHA loan limits for Sumter, SC
VA loan limits for Sumter, SC