South Carolina Mortgage Calculator 2026
Calculate your monthly mortgage payment in South Carolina. Updated with 2026 South Carolina mortgage rates (6.2% avg), property tax (0.55%), and insurance. 10,000+ South Carolina homebuyers use this free calculator.
How to Use This South Carolina Mortgage Calculator
Enter your home price, down payment, and interest rate to instantly calculate your monthly mortgage payment in South Carolina. Results include Principal & Interest (P&I), Property Tax, Homeowners Insurance, and total interest paid.
South Carolina Mortgage Rates in 2026
The average mortgage rate in South Carolina is currently 6.2% for a 30-year fixed-rate loan. Rates typically range from 5.9% to 6.5% depending on your credit score and down payment.
South Carolina Property Taxes
South Carolina has an effective property tax rate of approximately 0.55% per year, lower than the national average.
Average Home Price in South Carolina
The median home price in South Carolina is approximately $320,000. At 20% down ($64,000), your loan amount is $256,000. Monthly P&I at 6.2% is approximately $1,567.
30-Year vs 15-Year Mortgage in South Carolina
| Loan Type | Monthly P&I | Total Interest |
|---|---|---|
| 30-Year Fixed @ 6.2% | $1,567 | $308,120 |
| 15-Year Fixed @ 6.2% | $2,188 | $137,840 |
South Carolina Home Price Trends (2020-2026)
- Median home price 2026: $322K
- 5-year change (2020-2026): +49.8% ($215K → $322K)
- 1-year change (2025-2026): +2.2%
- Peak price: $322K (2026)
South Carolina Rent Price Trends (2020-2026)
- Median rent 2026: $1,408/month
- 5-year change (2020-2026): +46.7% ($960 → $1,408/month)
- 1-year change (2025-2026): +2.0%
- Annual rent cost: $16,896/year
Buy vs Rent: South Carolina Price-to-Rent Ratio
- Price-to-rent ratio: 19.1 (median home price ÷ annual rent)
- Assessment: Renting is more affordable than buying
- Rule of thumb: Ratio below 15 favors buying; above 20 favors renting; 15-20 is a toss-up
- Estimated monthly mortgage: ~$2,093/month (6.5% rate, 20% down)
- Monthly rent: $1,408/month
Data sources: Zillow Home Value Index, FRED, Census Bureau estimates. 2026 figures are projected based on recent trends.
Popular Cities in South Carolina
Frequently Asked Questions
What is the average mortgage rate in South Carolina?
As of 2026, average South Carolina mortgage rates range from 5.9% to 6.5% for a 30-year fixed-rate loan.
How much down payment do I need in South Carolina?
Most lenders require 3-20% down. Conventional loans need 5-20%, FHA loans accept as little as 3.5%.
Are property taxes high in South Carolina?
South Carolina has an effective property tax rate of approximately 0.55% annually.
What is PMI?
PMI is required if down payment is less than 20%. Once you reach 20% equity, you can request cancellation.
What documents do I need for a South Carolina mortgage?
Pay stubs, W-2s or tax returns (2 years), bank statements (3 months), valid ID, and debt details.
How long does mortgage approval take in South Carolina?
Mortgage approval in South Carolina typically takes 30-45 days from application to closing.