Mortgage rates in South Carolina
30-yr fixed 7.18% · Freddie Mac PMMS, week of Nov 5, 2026 · APR benchmark 7.19% (APOR for locks from Nov 9, 2026) · Last reviewed Oct 18, 2026 by the Editorial Team
South Carolina has one of the lowest owner-occupied property-tax rates nationally.
Mortgage rates today by loan type
These are national averages. Lenders in South Carolina price off the same national market, so treat them as a benchmark: your quote depends on your credit, down payment, loan size and points. The APR benchmark folds in typical points and fees, so it shows what a prime borrower's APR looks like this week.
| Loan type | Avg rate | APR benchmarkAPOR | Source · as of | What it measures |
|---|---|---|---|---|
| 30-year fixed | 7.18% | 7.19% | Freddie Mac PMMSNov 5, 2026 | Conventional purchase loans, 20% down, strong credit; weekly survey |
| 20-year fixed | 6.66% | 6.93% | Zillow (via NerdWallet)Nov 6, 2026 | Lender-quoted average; checked by hand every two weeks |
| 15-year fixed | 6.57% | 6.67% | Freddie Mac PMMSNov 5, 2026 | Conventional purchase loans, 20% down, strong credit; weekly survey |
| 10-year fixed | 6.31% | 6.82% | Zillow (via NerdWallet)Nov 6, 2026 | Lender-quoted average; checked by hand every two weeks |
| 5-year ARM | 6.73% | 6.67% | Zillow (via NerdWallet)Nov 6, 2026 | Fixed for 5 years, then adjusts; APOR = prime ARM benchmark |
| 7-year ARM | — | 6.50% | APOR, locks from Nov 9, 2026 | No free rate series; APOR benchmark only |
| 10-year ARM | — | 6.63% | APOR, locks from Nov 9, 2026 | No free rate series; APOR benchmark only |
| FHA 30-year | 6.89% | — | Optimal Blue OBMMINov 5, 2026 | Locked FHA loans, all credit profiles; daily |
| VA 30-year | 6.71% | — | Optimal Blue OBMMINov 5, 2026 | Locked VA loans; daily |
| USDA 30-year | 6.86% | — | Optimal Blue OBMMINov 5, 2026 | Locked USDA loans; daily |
| Jumbo 30-year | 7.25% | — | Optimal Blue OBMMINov 5, 2026 | Locked loans above the conforming limit; daily |
APR benchmark = FFIEC/CFPB Average Prime Offer Rate for rate locks in the week starting Nov 9, 2026 (published in advance): a prime borrower's APR including typical points and fees. It is not a quote; your APR depends on credit, down payment and the points you pay. APOR is not published for FHA, VA, USDA or jumbo loans.
Calculate your South Carolina mortgage payment
The calculator starts from South Carolina's median list price, 20% down, the state's 0.48% effective property tax, its median insurance premium and its average closing costs. Switch to FHA or VA, change the down payment, or pick your county to set its conforming limit. For the month-by-month split of principal and interest, open the amortization table. To see how South Carolina's property tax and insurance compare with every other state, try the PITI calculator by state.
South Carolina vs. the U.S.
South Carolina's median list price is 13% below the U.S. median, so at the same 7.18% rate the principal and interest on a 20%-down loan runs $303 a month less. Five-year price growth here was the 7th-fastest of 51 jurisdictions.
| Measure | South Carolina | U.S. |
|---|---|---|
| Median list priceRealtor.com, Oct 2026 | $359,000 | $415,000 |
| Principal + interest, 20% down30-yr avg 7.18% | $1,946 | $2,249 |
| Average home-purchase loanHMDA 2025 | $345,609 | $404,828 |
| Average closing costsincl. transfer taxes | $2,883 | $4,661 |
| Median conventional rate paid2025 purchase loans | 6.50% | 6.50% |
| Mortgage approval rateHMDA 2025 | 75.6% | 76.6% |
| Home values, 1 yearFHFA index, Q2 2026 | +3.8% | +3.0% |
| Home values, 5 yearsFHFA index, Q2 2026 | +54.8% | +41.3% |
What South Carolina borrowers actually paid in 2025
This is the state-specific part. Federal HMDA records show the rate and costs on every South Carolina home-purchase loan closed in 2025. We compare like with like: 30-year fixed, first-lien, one-unit primary homes. On conventional loans, South Carolina borrowers paid 0.02 percentage points above the market benchmark at lock, the 24th-highest of all 50 states and the District of Columbia.
| 2025 purchase loans | Median rateSC · U.S. | Over benchmarkSC · U.S. | Closing costsSC · U.S. | Paid pointsshare of loans | Median downequity on refis · SC |
|---|---|---|---|---|---|
| Conventional 30-yr fixed (conforming, 20%+ down)15,882 loans | 6.50%6.50% | +0.02+0.02 | $4,899$5,476 | 60.1%53.2% | 25% |
| Jumbo 30-yr fixed (20%+ down)407 loans | 6.75%6.63% | +0.09+0.00 | $7,898$10,251 | 34.4%38.4% | 20% |
| FHA 30-yr fixed14,609 loans | 6.13%6.25% | +0.29+0.42 | $10,392$11,291 | 62.0%59.3% | 3.5% |
| VA 30-yr fixed10,261 loans | 6.13%6.13% | −0.40−0.36 | $6,362$6,554 | 62.0%59.3% | 0% |
| Conventional rate-and-term refinance2,159 loans | 6.38%6.38% | −0.05−0.06 | $4,852$4,390 | 54.8%45.4% | 34% |
Source: 2025 HMDA loan-level records (FFIEC/CFPB), medians. "Over benchmark" = rate spread, the APR minus APOR on the lock date, which removes the effect of when each loan locked. Closing costs = total loan costs on the Closing Disclosure. HMDA has no credit scores, so these are what borrowers paid, not what you will be offered. See the lenders active in South Carolina and what their borrowers paid.
South Carolina's biggest conventional lenders: what their borrowers paid
The 8 largest conventional lenders in South Carolina by 2025 purchase loans, out of 849 that made one. Each row is the median for that lender's comparable loans here: 30-year fixed, conforming, 20% or more down. A lower figure over the benchmark means cheaper pricing for the same week.
| Lender | 2025 loansshare in SC | Median rate | Over benchmark | Originationmedian | Paid pointsshare · median | Median down |
|---|---|---|---|---|---|---|
| Rocket Mortgage | 1,9773.8% | 6.50% | +0.05 | $3,151 | 73%$2,984 | 25% |
| United Wholesale Mortgage | 1,6393.2% | 6.62% | +0.09 | $3,889 | 60%$2,000 | 24.8% |
| Vanderbilt Mortgage And Finance, Inc. | 1,5633% | 6.13% | −0.16 | $2,345 | 75%$4,214 | 26.8% |
| Lennar Mortgage | 1,4472.8% | 6.50% | −0.03 | $2,715 | 79%$2,915 | 26.3% |
| Movement Mortgage | 1,3342.6% | 6.19% | −0.03 | $2,847 | 83%$3,117 | 25.8% |
| DHI Mortgage | 1,2132.4% | 5.50% | −1.06 | $0 | 62%$2,201 | 28.1% |
| Guild Mortgage | 1,0622.1% | 6.63% | +0.10 | $2,248 | 63%$2,160 | 25% |
| First-Citizens Bank & Trust Company | 1,0082% | 6.38% | −0.19 | $1,495 | 44%$533 | 25% |
Source: 2025 HMDA loan-level records (FFIEC/CFPB), lenders with at least 30 comparable loans in South Carolina. Minimum credit scores are not shown here: conventional loans usually start at 620 (a lender floor; Fannie Mae's automated underwriting sets none), FHA 580 (500 with 10% down), VA none set by VA (lenders often 620). HMDA has no credit scores, so a lender's medians reflect its own mix of borrowers. FHA and VA lenders: South Carolina lender rankings.
How rates have moved
Weekly national averages over the past 30 days to 5 years. The 30- and 15-year lines are Freddie Mac average rates; the ARM lines are the APOR APR benchmark, because no free weekly ARM rate series exists.
- Now
- 7.18%
- Nov 5, 2026
- 1 week ago
- 7.24%
- −0.06 pts
- 1 month ago
- 7.40%
- −0.22 pts
- 1 year ago
- 6.22%
- +0.96 pts
30-year fixed: Freddie Mac PMMS (rate), weekly. National series.
What a mortgage costs in South Carolina
On a home at South Carolina's median list price of $359,000 with 20% down, the financed amount is $287,200, or about $1,946 a month in principal and interest at the 7.18% 30-year average.
What makes South Carolina different is the cost around the loan. Its 0.48% effective property-tax rate adds roughly $144 a month, and homeowners insurance — at the state's median 0.45% of home value — about $133 more, bringing the all-in estimate to $2,222. That figure is principal and interest at the 30-year average, property tax and insurance; at 20% down a conventional loan has no PMI, and HOA dues or local special assessments are not included. Your own price and down payment will move the number — work backward from your income with the how-much-house calculator.
Payment at the $359,000 median list price by down payment and loan type
| Loan | Rate | Monthlyall-in | Mortgage ins. | Cash to close | Income needed28% rule · yearly |
|---|---|---|---|---|---|
| Conventional, 20% downNo PMI | 7.18%Freddie Mac 30-yr avg | $2,222P&I $1,946 | — | $74,683 | $95,000 |
| Conventional, 10% downPMI est. 0.7%/yr | 7.18%Freddie Mac 30-yr avg | $2,654P&I $2,189 | $188 | $38,783 | $114,000 |
| Conventional, 5% downPMI est. 0.7%/yr | 7.18%Freddie Mac 30-yr avg | $2,786P&I $2,310 | $199 | $20,833 | $119,000 |
| Conventional, 3% downPMI est. 0.7%/yr | 7.18%Freddie Mac 30-yr avg | $2,839P&I $2,359 | $203 | $13,653 | $122,000 |
| FHA, 3.5% down1.75% upfront MIP financed + annual MIP | 6.89%OBMMI FHA avg | $2,755P&I $2,319 | $159 | $15,448 | $118,000 |
| VA, 0% down2.15% funding fee financed; no monthly MI | 6.71%OBMMI VA avg | $2,646P&I $2,369 | — | $2,883 | $113,000 |
Monthly = principal and interest + property tax (0.48% effective) + homeowners insurance (about $133/mo — South Carolina's median premium, 0.45% of home value) + mortgage insurance. HOA dues and local special assessments are not included. Cash to close = down payment + South Carolina's average closing costs ($2,883). PMI is an illustrative 0.7% a year; FHA and VA figures use HUD's MIP schedule and VA's first-use funding fee. Income needed = the gross yearly income at which the monthly figure is 28% of pay, the classic housing-cost guideline. Lenders also limit your total monthly debts as a share of income, so car, student-loan and card payments raise the income you need.
Prices, loan limits and payments in South Carolina's biggest counties
Home prices, and so the loan you need, vary more inside South Carolina than rates do. The table covers the largest county markets. Pick a row to load it into the calculator above.
| County | Median list priceSep 2026 · yr/yr | Avg purchase loanHMDA 2025 | Conforming limitmax price at 20% down | At 20% down | Est. paymentP&I + tax + ins. | Calculator |
|---|---|---|---|---|---|---|
| Horry County5,780 homes for sale · Sep 2026 | $315,000-1.6% | $301,34710,096 loans | $832,750$1,040,937 | Conforming$252,000 loan | $1,950at 7.18% | |
| Greenville County2,479 homes for sale · Sep 2026 | $400,000-3.6% | $358,2317,823 loans | $832,750$1,040,937 | Conforming$320,000 loan | $2,476at 7.18% | |
| Beaufort County2,171 homes for sale · Sep 2026 | $520,000-10.7% | $541,3003,859 loans | $832,750$1,040,937 | Conforming$416,000 loan | $3,219at 7.18% | |
| Spartanburg County2,111 homes for sale · Sep 2026 | $306,950-3% | $271,5817,029 loans | $832,750$1,040,937 | Conforming$245,560 loan | $1,900at 7.18% | |
| Charleston County2,081 homes for sale · Sep 2026 | $691,250-5.3% | $642,7526,104 loans | $832,750$1,040,937 | Conforming$553,000 loan | $4,279at 7.18% | |
| Richland County1,685 homes for sale · Sep 2026 | $275,000-5% | $286,3106,160 loans | $832,750$1,040,937 | Conforming$220,000 loan | $1,702at 7.18% | |
| Berkeley County1,211 homes for sale · Sep 2026 | $406,056-4.5% | $416,3015,851 loans | $832,750$1,040,937 | Conforming$324,845 loan | $2,514at 7.18% | |
| York County1,201 homes for sale · Sep 2026 | $419,972-0.8% | $390,0444,663 loans | $832,750$1,040,937 | Conforming$335,978 loan | $2,600at 7.18% | |
| Lexington County1,135 homes for sale · Sep 2026 | $322,357+0.2% | $275,4965,017 loans | $832,750$1,040,937 | Conforming$257,886 loan | $1,995at 7.18% | |
| Anderson County1,053 homes for sale · Sep 2026 | $339,950-0.2% | $279,2243,068 loans | $832,750$1,040,937 | Conforming$271,960 loan | $2,104at 7.18% | |
| Aiken County1,014 homes for sale · Sep 2026 | $338,900-3% | $288,3182,872 loans | $832,750$1,040,937 | Conforming$271,120 loan | $2,098at 7.18% | |
| Dorchester County865 homes for sale · Sep 2026 | $396,125-2.1% | $350,4683,352 loans | $832,750$1,040,937 | Conforming$316,900 loan | $2,452at 7.18% |
Sources: Realtor.com county research data (median listing price, Sep 2026); FHFA 2026 one-unit conforming limits; 2025 HMDA home-purchase originations (average loan, all loan types). Payments use the 30-year average (7.18%, or the jumbo average 7.25% above the limit), South Carolina's 0.48% effective property tax and its median insurance premium (0.45% of value), both from Census ACS 2024 data; county tax rates differ. Max price at 20% down = the county limit ÷ 0.8, the highest price at which a 20%-down loan stays conforming. Homes for sale = active Realtor.com listings in the month, excluding pending sales.
What's different about buying a home in South Carolina
Rates are national, but the rules around the loan are not. These South Carolina specifics can change your payment, your closing or your protections as a borrower.
Apply for the 4% owner-occupied assessment ratio
South Carolina assesses an owner-occupied primary home at 4% of fair market value, versus 6% for a second home, but only after the county assessor approves your application. A qualifying home is also exempt from school operating property taxes, which makes the application worth filing promptly.
Source: dor.sc.govA sale resets South Carolina's 15% assessment cap
South Carolina limits value increases from countywide reappraisal to 15% over five years, but a change in ownership, such as a sale, is an assessable transfer that triggers a fresh appraisal. The cap does not shield the new value in the first year it is taxed, so the seller's bill may understate yours.
Source: dor.sc.govCoastal wind coverage may be a separate policy
In the coastal territory of the South Carolina Wind and Hail Underwriting Association, insurers may exclude wind coverage, which the association can then write separately. A coastal buyer may need two policies, and the Department of Insurance notes residual-market rates are generally higher than voluntary-market rates.
Source: doi.sc.govCourt appraisal can reduce a foreclosure deficiency
South Carolina foreclosures are court-ordered sales, and a lender may seek a personal judgment for any shortfall. Within 30 days after the sale, a defendant can petition for a court-ordered appraisal that replaces the high bid and may reduce the deficiency. This right generally cannot be waived for a dwelling or a consumer credit loan.
Source: scstatehouse.govAttorneys must supervise South Carolina home closings
South Carolina's Supreme Court has held that title searches, loan-document preparation, closings and recording must be done under a licensed attorney's supervision. Buyers should expect an attorney-led closing rather than one run only by a title company.
Source: sccourts.orgChecked against official sources on October 19, 2026. Laws and programs change; confirm details with the agency named or a local real estate attorney.
How South Carolina buyers finance their homes
VA loans are where South Carolina stands out: they made up 13.5% of home loans originated here in 2025, against 8.2% nationally — the 5th-highest VA share of any state. Lenders, agents and appraisers here handle VA deals routinely, which helps if that is the loan you need.
| Loan type | Share in SC | U.S. share | Approval in SC | Avg loan in SC |
|---|---|---|---|---|
| Conventional | 68.4% | 78.0% | 73.5% | $320,613 |
| FHA | 17.3% | 13.2% | 78.2% | $282,803 |
| VA | 13.5% | 8.2% | 83.5% | $360,980 |
| USDA | 0.8% | 0.6% | 84.2% | $235,880 |
The average South Carolina home loan in 2025 was $318,805 — 10% below the U.S. average of $352,861, the 25th-largest of 51 jurisdictions. Home purchases accounted for 69.6% of those loans (U.S. 64.2%); cash-out refinances for 15.5% (U.S. 17.1%).
Source: 2025 HMDA originations, FFIEC/CFPB. Approval = originated ÷ (originated + denied).
South Carolina loan limits for 2026
All 46 of South Carolina's counties use the 2026 baseline conforming limit of $832,750 for a one-unit home. Any loan above that is a jumbo loan here, which usually means a larger down payment and cash reserves. See the full national grid in our 2026 conforming limits table.
County limits: FHFA 2026 conforming loan limit list (one-unit properties; two- to four-unit limits are higher).
Cash you'll need to close in South Carolina
Average closing costs in South Carolina are about $2,883 including transfer taxes (No. 38 of 51, highest first). On a home at the median list price of $359,000:
| 20% down | 3% down | |
|---|---|---|
| Down payment | $71,800 | $10,770 |
| Average closing costs | $2,883 | $2,883 |
| Cash to close (estimate) | $74,683 | $13,653 |
Prepaid taxes and insurance are extra. Closing-cost averages by state (source: Bankrate).
Transfer taxes and recording rules in South Carolina
South Carolina's deed recording fee is $1.85 per $500 of value (0.37%) — $1.30 to the state and $0.55 to the county — and the seller is primarily liable for it. Source: dor.sc.gov
Getting approved in South Carolina
Federal HMDA lending records show South Carolina lenders originated 143,083 home loans in 2025 and denied 46,264 applications — an approval rate near 75.6% among decisioned applications, against 76.6% nationwide. See how all 50 states compare in our state approval-rate study, and how South Carolina ranks for mortgage complaint patterns (6,288 on record).
Shopping for a loan? See the most active mortgage lenders in South Carolina, ranked by federal HMDA volume.
Down-payment help in South Carolina
You rarely need 20% down. These are the main programs from SC Housing, South Carolina's housing finance agency; they are offered through participating lenders, usually alongside the agency's own first mortgage.
Palmetto Home Advantage
Forgivable down-payment assistance of 3% or 4% of the loan with no monthly payment, with no first-time buyer requirement, a 640 minimum credit score and a borrower income limit of $135,750.
Source: schousing.comSC Housing Homebuyer Program
Down-payment assistance as a 0% second lien with a 15-year term that is forgiven if you stay in the home for the full term. SC Housing's 2026 Palmetto Heroes round for teachers, nurses, first responders and veterans offered $10,000 and has closed.
Source: schousing.comChecked against official sources on October 9, 2026. Assistance amounts, income limits and funding change during the year — confirm current terms with SC Housing or a participating lender.
Is there an MCC in South Carolina? Not confirmed
SC Housing listed its Mortgage Tax Credit (MCC) next to its bond program as of August 2025, but its website couldn't be reached on October 22, 2026 to confirm the current status. Which states still issue MCCs.
Check current terms at SC Housing, see how a smaller down payment changes your number with the down payment tool, or compare first-time buyer programs nationwide.
How these numbers are measured
- Freddie Mac PMMS (30- and 15-year): a weekly average of rates offered to borrowers with 20% down and strong credit, published Thursdays; latest week Nov 5, 2026. Points are not reported.
- Optimal Blue OBMMI (FHA, VA, USDA, jumbo): daily averages of rates actually locked, across credit profiles. Points vary by loan.
- APOR (APR benchmark): FFIEC/CFPB's weekly Average Prime Offer Rate, an APR that includes typical points and fees for a prime borrower. Regulators use it to flag higher-priced loans.
- HMDA 2025 (South Carolina vs U.S.): rates, costs, points and down payments on loans that actually closed, reported by lenders to federal regulators. Updated once a year.
- Census ACS 2024 (property tax and insurance): what homeowners with a mortgage in South Carolina reported paying — the median real-estate tax divided by the median home value, and the median insurance premium as a share of value. Updated once a year.
- Interest rate vs APR: the rate sets your payment; the APR adds points and lender fees spread over the loan. Compare APRs on Loan Estimates for the same day and loan type.
Rates and APOR refresh every week; HMDA, loan limits and closing-cost averages refresh when their publishers release new data. Reviewed by our editors. Full sources and formulas: how we source our data.
South Carolina mortgage FAQ
What is a good mortgage rate in South Carolina right now?
A 30-year fixed close to the national average of 7.18% (Freddie Mac, week of Nov 5, 2026) is a fair benchmark for a borrower with strong credit and 20% down. In 2025, South Carolina's conventional buyers paid a median 6.50%.
Quotes well above that usually reflect lower credit, a small down payment or lender credits taken in exchange for a higher rate.
Are mortgage rates higher in South Carolina than in other states?
No, about the same as nationally. In 2025 HMDA records, South Carolina's median conventional 30-year rate was 6.50%, against 6.50% nationally.
Against the benchmark for each loan's lock week, which counts points and fees, South Carolina loans priced 0.02 percentage points above it (the 24th-highest of all 50 states and the District of Columbia), against 0.02 above nationally.
Rates are set mainly in one national market, so your credit, down payment and loan size matter more.
What are current jumbo mortgage rates in South Carolina?
The national jumbo 30-year average is 7.25% (Optimal Blue). In 2025, South Carolina's jumbo buyers paid a median 6.75%. A loan is jumbo above the $832,750 conforming limit, which applies in every South Carolina county.
Jumbo lenders typically want 10–20% down, a 700+ credit score and 6–12 months of reserves.
Should I choose a 15-year or 30-year mortgage?
On a $287,200 loan (20% down on South Carolina's median list price), a 30-year at 7.18% costs $1,946 a month and a 15-year at 6.57% costs $2,513.
The 15-year saves about $248,094 in interest but needs $567 more a month, so it fits only if that payment is comfortable.
How much does a 1% difference in mortgage rates change my monthly payment?
On a $287,200 loan (20% down on South Carolina's median list price), moving from 7.18% to 8.18% raises the principal-and-interest payment from $1,946 to $2,144, or $198 a month.
Over 30 years that is about $71,254 more in interest, which is why comparing several lenders on the same day matters.
Are mortgage rates different for purchase and refinance loans?
Yes, slightly. In 2025, South Carolina's conventional rate-and-term refinances closed at a median 6.38% and purchases at 6.50%, partly because refinances bunch up when rates dip. Refinances priced 0.05 percentage points below the market benchmark; cash-out refinances usually cost more. Your own pricing depends on credit, loan-to-value and points.
How much is a $400,000 mortgage at 7.18% interest?
About $2,710 a month in principal and interest over 30 years. In South Carolina, a $500,000 home with that loan adds roughly $200 a month in property tax at the 0.48% effective rate, plus homeowners insurance. Over 30 years the loan costs about $575,506 in interest.
How much income do I need to buy a home in South Carolina?
About $95,000 a year for a home at the $359,000 median list price with 20% down, if the full $2,222 monthly payment, including tax and insurance, stays within 28% of gross income.
Smaller down payments add mortgage insurance and raise that figure; existing debts lower what lenders approve.
What down payment assistance is available in South Carolina?
SC Housing, the state housing finance agency, runs Palmetto Home Advantage and SC Housing Homebuyer Program, offered through participating lenders. Help usually comes as a grant or a deferred or forgivable second loan paired with the agency's first mortgage.
Amounts, income limits and funding change during the year, so confirm current terms with SC Housing or a participating lender before you apply.
- Freddie Mac — Primary Mortgage Market Survey
- FFIEC / CFPB — Average Prime Offer Rates (APOR)
- FFIEC / CFPB — HMDA data browser (2025 loan-level records)
- Optimal Blue OBMMI via FRED (FHA, VA, USDA, jumbo)
- FHFA — 2026 conforming loan limits by county
- U.S. Census Bureau — 2024 American Community Survey microdata (property tax and homeowners insurance)
- HUD — Handbook 4000.1 (FHA mortgage insurance)
Rates shown are national weekly averages for general guidance, not an offer or personalized quote. Payment estimates assume the down payment noted plus estimated taxes and insurance. Confirm current pricing with a licensed lender.