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South Carolina Mortgage Rates

Updated: July 18, 2024

Compare today's rates for Mortgage Refinance in SC

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Mortgage rates for South Carolina go down to 3.00%

Thursday, July 18, 2024

Mortgage rates for South Carolina on Lender411 for 30-year fixed-rate mortgages are at 3.00%. That dropped from 3.00% to 3.00%. The 15-year fixed rates are now at 2.56%. The 5/1 ARM mortgage for South Carolina is now at 4.56%.

If you are looking for information on South Carolina mortgage or refinance rates, you’ve come to the right place.  Lender411 is an information resource for anyone who wants to simplify the process of getting a mortgage loan.

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Finding the lowest mortgage rates in your area isn’t difficult when you have access to our established network of trusted mortgage professionals in South Carolina. Talk to multiple mortgage lenders in SC to compare rate quotes and understand your options.

South Carolina Mortgage Refinance

You can save money on your refinance in two ways.  The first way to save money is by reducing your monthly payment amount.  The second way to do it is by paying off your mortgage early, through a shorter loan term.  Either of these approaches can save you thousands of dollars.

A no cost refi can save you even more money, though.  Find out from your lender whether you qualify for this loan type or not.  If you’re in an adjustable rate mortgage at present, seek a fixed rate loan to replace your ARM loan.

Home Loans in South Carolina

You’ll have to pick a mortgage loan type regardless of whether you’re taking out a loan for a home purchase or a refinance.  But which loan type should you choose?  You’ll have to identify your needs.  Your lender can help you with this.

A fixed rate mortgage is often the best choice you can make.  Take out this loan type if you want financial stability over the entire length of your loan.  If you want to try and beat the market and get a lower interest rate, you can take out an adjustable rate mortgage (ARM).  This mortgage type will get you a low rate, but you’ll have to make higher payments once the rate adjusts upward.

If it fits with your goals, you may be able to take out an FHA loan, a VA loan, or a jumbo loan.  Other loans, including interest only loans, second mortgage, and home equity loans, are also available.

About South Carolina

South Carolina is a lovely state in the South, one of the original thirteen colonies.  The state's total population today stands at around four million people, with major cities including Columbia, Charleston, and North Charleston.  This State has many places under the care of the National Parks Service including Fort Sumter National Monument, Charles Pinckney National Historic Site, and the Overmountain Victory National Historic Trail.

South Carolina tends to be hot and humid in the summer and cold in the winter.  There are chances of thunderstorms or tornados on occasion.  Agriculture plays a large role in the state's economy.  Textiles, machinery, paper goods, and tourism are other major industries.

South Carolina is called a golfer's paradise.  The state capital and largest city is Columbia.  Columbia was a planned city that is often praised for its high quality of life and its many amenities.  It was recently called one of America's Most Livable Communities.  This southern state is full of the charm and hospitality that the South is known for.

To learn more about homeownership in South Carolina or research SC home buying programs, visit the South Carolina HUD portal.

If you want to keep reading more information on our site, click on any of the links below.

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