Mortgage Payment Calculator for South Carolina

Mortgage Payments in South Carolina

The median home value in South Carolina is $290,000. Charleston metro and Hilton Head have become premium national markets with prices up 40-60% since 2019. Greenville and Columbia have grown significantly driven by manufacturing and healthcare investment.

Conforming Loan Limits in South Carolina

The conforming loan limit is $726,200. All South Carolina counties are at the standard conforming limit. Loans up to this amount qualify for standard Fannie Mae/Freddie Mac rates. Above this is jumbo territory with stricter requirements.

Sample Monthly Payments in South Carolina

At the median home value of $290,000 with a 20% down payment ($58,000), you'd borrow $232,000. At 7% for 30 years, principal and interest runs approximately $1,544/month. Add property taxes (~$138/mo) and insurance (~$150/mo) for a total PITI estimate.

Property Taxes in South Carolina

Budget for South Carolina's effective property tax rate of 0.57% (avg. bill: $1,322/year). Lenders include taxes in your PITI calculation and collect them monthly in escrow.

Closing Costs

First-time buyers in South Carolina should budget for closing costs of approximately $2,900. South Carolina charges a deed recording fee ($1.85/$500 of value) and a mortgage recording fee. Total closing costs are moderate by Southeast standards.

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