Mortgage rates in South Carolina
Average 30-year fixed 6.49% · Updated July 9, 2026 · Freddie Mac (FRED)
South Carolina has one of the lowest owner-occupied property-tax rates nationally. Below is what buying at South Carolina's median price looks like at today's national average rate, plus the local property tax and assistance that actually change your payment.
What a mortgage costs in South Carolina
The interest rate on a South Carolina mortgage is the same 6.49% national average a lender would quote anywhere — rates are set by the bond market, not by your state. On South Carolina's median $369,000 home with 20% down, the financed amount is $295,200, or about $1,864 a month in principal and interest.
What makes South Carolina different is the cost around the loan. Its 0.56% effective property-tax rate adds roughly $172 a month, and homeowners insurance about $138 more — bringing the all-in estimate to $2,174. Those local costs, not the interest rate, are what set South Carolina apart. Your own price and down payment will move the number — work backward from your income with the how-much-house calculator.
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 (6,018 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. SC Housing — South Carolina's housing finance agency — runs the state's main assistance program: SC Housing offers up to $10,000 in forgivable down-payment assistance. Eligibility usually turns on income limits and a homebuyer-education course. 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.
South Carolina mortgage FAQ
What is the current mortgage rate in South Carolina?
As of July 9, 2026, the U.S. average 30-year fixed rate is 6.49%. The note rate itself is set nationally, not by state — a lender prices your South Carolina loan the same way it would anywhere, based on your credit, down payment and loan type.
What changes locally is everything around the rate: South Carolina's ~0.56% effective property tax, insurance costs, and which assistance programs apply.
What is the monthly payment on a typical South Carolina home?
On South Carolina's median home price of about $369,000 with 20% down at today's 6.49% average 30-year rate, expect roughly $2,174/month — that's $1,864 principal and interest plus about $172 property tax and $138 insurance. Adjust the numbers for your exact price and down payment in our calculators.
How hard is it to get approved for a mortgage in South Carolina?
In 2025, South Carolina lenders originated 143,083 home loans and denied 46,264 applications — an approval rate of about 75.6% among decisioned applications, versus 76.6% nationally, according to federal HMDA data. See how every state ranks in our mortgage approval report.
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.