Mortgage in South Carolina (2026)

Find the best mortgage rates in South Carolina. Buying a home in cities across, SC starts with finding the right mortgage. In 2026, borrowers can choose from conventional, FHA, VA, and USDA loan programs.

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South Carolina Rates & Terms

Borrowers in cities across with credit scores above 760 and 20% down payments qualify for the best conventional mortgage rates.

Adjustable-rate mortgages in SC start 0.5% to 1% lower than fixed rates but carry reset risk after the initial fixed period.

Requirements in South Carolina

Conventional mortgages in cities across typically require a minimum credit score of 620, a debt-to-income ratio below 43%, and stable employment history.

Jumbo loans in cities across for amounts exceeding conforming limits require credit scores of 700+, larger down payments, and significant cash reserves.

State Regulations

South Carolina borrowers are protected by the following regulations:

  • Usury Limit: 8.75% (non-licensed)
  • Payday Lending: Legal, max $550, 15% fee
  • Notes: South Carolina regulates payday lending with specific amount and fee caps.

Top Cities in South Carolina for Mortgage

Charleston Columbia Greenville Myrtle Beach Spartanburg Mauldin Rock Hill North Charleston

Borrowing Tips

  • Lock your mortgage rate once you have a signed purchase agreement; rates can change daily and cost you thousands.
  • Improve your credit score by 20+ points before applying; even small improvements can lower your rate significantly.
  • Save for closing costs in addition to your down payment; expect 2-5% of the loan amount for closing expenses.

Frequently Asked Questions

What is the current average mortgage rate in SC?

As of 2026, average 30-year fixed mortgage rates in SC range from 6.5% to 7.5%, while 15-year fixed rates range from 5.75% to 6.75%. Rates vary by lender and borrower profile.

How long does mortgage approval take in cities across?

Most lenders can issue a conditional approval within 3-5 business days. Full loan approval and clear-to-close typically take 30-45 days from application.

Should I choose a fixed or adjustable-rate mortgage?

Choose a fixed-rate mortgage if you plan to stay in the home long-term and want payment stability. An ARM may save money if you plan to sell or refinance within 5-7 years.

How much down payment do I need for a house in cities across?

Conventional loans require 3-20% down, FHA loans require 3.5%, and VA loans require 0% down. The median down payment in cities across is approximately 10-15% of the purchase price.

Important Disclaimer

LoanMatchers is not a lender and does not make credit decisions. We connect consumers with licensed lending partners. All loan terms, rates, and fees are determined by the lender and are subject to credit approval. APRs range from 5.99% to 35.99%. Not all applicants will qualify for the lowest rates. This website provides general information and does not constitute financial, legal, or tax advice. Consult a qualified professional before making financial decisions. Rates and terms are accurate as of 2026 but subject to change without notice.