Typical South Carolina mortgage payment
The median home price in South Carolina is roughly $300,000. Here's the estimated monthly principal & interest payment on that amount, by rate and term:
| Rate | 15-year | 30-year |
|---|---|---|
| 5.00% | $2,372 | $1,610 |
| 5.50% | $2,451 | $1,703 |
| 6.00% | $2,532 | $1,799 |
| 6.50% | $2,613 | $1,896 |
| 7.00% | $2,696 | $1,996 |
| 7.50% | $2,781 | $2,098 |
| 8.00% | $2,867 | $2,201 |
At 6.50% over 30 years, a $300,000 home in South Carolina costs about $1,896/month in principal & interest.
What affects your South Carolina payment?
- Property taxes & insurance vary by county and aren't included above.
- Down payment: 20% down avoids private mortgage insurance (PMI).
- Loan term: a 15-year loan saves enormous interest vs. 30 years.
Median price is an approximate estimate. Figures are principal & interest only and exclude taxes, insurance and fees. Not financial advice.