Mortgage in South Carolina (2026)

Find the best mortgage rates and terms in South Carolina. In 2026, cities across, SC homebuyers have access to fixed-rate, adjustable-rate, and government-backed mortgage products tailored to their needs.

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Rates & Terms in South Carolina

VA loans available to veterans in cities across often feature the lowest rates and require no down payment or private mortgage insurance.

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

Qualification Requirements

FHA loans in SC accept credit scores as low as 580 with 3.5% down, or 500-579 with 10% down.

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

South Carolina Lending Regulations

South Carolina regulates payday lending with specific amount and fee caps.

  • Usury Limit: 8.75% (non-licensed)
  • Payday Lending: Legal, max $550, 15% fee

Top Cities in South Carolina

Charleston Columbia Greenville Myrtle Beach Spartanburg Mauldin Rock Hill North Charleston

Expert Tips

  • Save for closing costs in addition to your down payment; expect 2-5% of the loan amount for closing expenses.
  • Consider a 15-year mortgage if you can afford the higher payment; you will save massive interest over the loan life.
  • Improve your credit score by 20+ points before applying; even small improvements can lower your rate significantly.

Frequently Asked Questions

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.

Can I get a mortgage with student loan debt in cities across?

Yes, lenders factor your total debt-to-income ratio. Income-driven repayment plans on federal student loans can help keep your DTI within qualifying limits.

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.

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.

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.