South Carolina Mortgage Rates

June 29, 2016 08:38 AM Eastern

Refinance rates now in COLUMBIA, SC [Change this]

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Home Price (Purchase)
When you get a mortgage to purchase a home, the lender uses the lower of the agreed-upon purchase price or the property's appraised value to determine your maximum loan amount. The loan amount divided by the property home price equals your loan-to-value ratio, or LTV. That ratio is one of the major factors that lenders use to set your mortgage rate. If your LTV exceeds 80 percent, you'll probably be required to pay mortgage insurance, which increases your monthly payment. If the property appraises for less than the agreed-on purchase price, you are not usually required to complete the purchase.
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Home Value (Refinance)
This is your estimate of the current value of your property. When you refinance, your home is almost always evaluated by a licensed appraiser. The refinance loan amount divided by the property's appraised value equals your loan-to-value ratio (LTV), and that number is one of the major factors that determine your mortgage rate. To get an accurate refinance rate quote, your home value estimate must be reasonably accurate.
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Down Payment
The down payment is the amount you pay upfront when you finance property. Your purchase price minus your down payment equals your mortgage amount. The higher your down payment, the more likely you are to be approved for a home loan. If your down payment is less than 20 percent of the purchase price, you'll probably be required to pay for mortgage insurance, which increases your monthly payment.
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Credit Score
Your credit score is a number designed to measure your credit-worthiness. It's based on a formula that combines many factors, including your payment history, amount of credit used and number of accounts. This number is used by lenders to calculate the probability that you'll default on your mortgage. Most lenders won't approve mortgages to applicants with credit scores lower than 620. Your credit score is one of the most important factors that determines your mortgage rate - applicants with higher scores are offered better mortgage rates.

30 Year Fixed

Interest Rate
3.125%
APR
3.265%
Monthly Payment
$857
BNC National Bank
30 Year Fixed
Interest Rate
3.125%
APR
3.265%
Monthly Payment
$857
BNC National Bank
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Offer Details

Home Value $250,000
Requested Loan Amount $200,000
Lock Period 30 Days
Down Payment $50,000
Principal and Interest Payments $857
Estimated Mortgage Insurance Payments $0
Total Monthly Mortgage Payment $857
Lender Fees $3,505
Lender Credit $0
Total Closing Fees* $3,505
*Other 3rd party fees may apply
BNC National Bank
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About the Lender

NMLS 418467BNC National Bank offers the security of a large organization while retaining the approachability and agility of a neighborhood bank. We offer Conventional, FHA, VA, USDA Rural Development and small farm loans at some of the most competitive rates in the industry!
BNC National Bank
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Lender Reviews

Happy camper

Yes, I recommend this lender

Farrell Bowden was great, helped us thru the process, answered all our questions, responded promptly to out emails and not only did we get a better rate than what our existing lender offered, Farrell explained the details and hidden costs our lender was trying to charge us. We closed on time, at the rate promised and with even less closing costs than originally projected. Thank You Farrell!

By: Kevin (Rancho Cordova, CA)

Don't bother with BNC- get a local bank

Started out well until everything was signed. Then, communication became more and more sparse until I was forced to sever with BNC and move to a different bank who was able to underwrite my loan ( from full application to close- because BNC would not transfer my file) in less than 3 weeks. The experience with BNC and Mark F just proved to be a waste of precious time.

By: Roz (Port Saint Joe, FL)

Great Mortgage Company

Yes, I recommend this lender

Very responsive and the rate are good.

By: Simon (Chepachet, RI)
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SmartPath Mortgage
30 Year Fixed
Interest Rate
3.250%
APR
3.381%
Monthly Payment
$871
(844) 311-2605 Contact
SmartPath Mortgage
Email Lender

Offer Details

Home Value $250,000
Requested Loan Amount $200,000
Lock Period 30 Days
Down Payment $50,000
Principal and Interest Payments $871
Estimated Mortgage Insurance Payments $0
Total Monthly Mortgage Payment $871
Lender Fees $3,277
Lender Credit $0
Total Closing Fees* $3,277
*Other 3rd party fees may apply
SmartPath Mortgage
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About the Lender

Smartpath Mortgage is a dba of Atlantic Bay Mortgage Group.  Atlantic Bay is a Ginnie Mae and Fannie Mae/Freddie Mac Direct Seller/Servicer. Atlantic Bay also has FHA Direct Endorsement authority and is a VA lender for residential mortgages. We have every authority that big banks and other lenders have, without the limits they have. In addition, FHA as an automatic insuring authority, meaning that we do not need to go to FHA for approvals, delegate us. To date we have helped over 70,000 borrowers, some more than once. We are also a partner in the community, giving over $2 million to charities and participating in events that promote the passions of our customers, employees, and neighbors.
SmartPath Mortgage
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Lender Reviews

Never too old to learn!

Yes, I recommend this lender

Daniel Webb was a breath of fresh air compared to other loan officers we had done business with. He was very positive about everything working out and took the time to explain things - keeping us informed through the whole process. Frankly, we learned quite a lot from him which will help us from making certain mistakes and poor choices in the future.

By: JoAnne (Wilmington, NC)

Great Experience!

Yes, I recommend this lender

This was by far the easiest mortgage I have ever done. I've refinanced about 3 times in the last 7 or so years and this was the best experience by far. Easy to deal with and they closed in my home. I would recommend them every time!

By: Michelle (Charleston, SC)

Bought a house

Yes, I recommend this lender

I have been working with Atlantic Bay for a bit now. They had my loan underwriten before I found a house to make sure there wasn't any problems once we found one. Their responsiveness has been wonderful and the rate was one of the lowest I found. I would recommend them to anyone.

By: Kim (Charlotte, NC)
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15 Year Fixed

Interest Rate
2.375%
APR
2.627%
Monthly Payment
$1,322
BNC National Bank
15 Year Fixed
Interest Rate
2.375%
APR
2.627%
Monthly Payment
$1,322
BNC National Bank
Email Lender

Offer Details

Home Value $250,000
Requested Loan Amount $200,000
Lock Period 30 Days
Down Payment $50,000
Principal and Interest Payments $1,322
Estimated Mortgage Insurance Payments $0
Total Monthly Mortgage Payment $1,322
Lender Fees $3,523
Lender Credit $0
Total Closing Fees* $3,523
*Other 3rd party fees may apply
BNC National Bank
Email Lender

About the Lender

NMLS 418467BNC National Bank offers the security of a large organization while retaining the approachability and agility of a neighborhood bank. We offer Conventional, FHA, VA, USDA Rural Development and small farm loans at some of the most competitive rates in the industry!
BNC National Bank
Email Lender Write a Review

Lender Reviews

Happy camper

Yes, I recommend this lender

Farrell Bowden was great, helped us thru the process, answered all our questions, responded promptly to out emails and not only did we get a better rate than what our existing lender offered, Farrell explained the details and hidden costs our lender was trying to charge us. We closed on time, at the rate promised and with even less closing costs than originally projected. Thank You Farrell!

By: Kevin (Rancho Cordova, CA)

Don't bother with BNC- get a local bank

Started out well until everything was signed. Then, communication became more and more sparse until I was forced to sever with BNC and move to a different bank who was able to underwrite my loan ( from full application to close- because BNC would not transfer my file) in less than 3 weeks. The experience with BNC and Mark F just proved to be a waste of precious time.

By: Roz (Port Saint Joe, FL)

Great Mortgage Company

Yes, I recommend this lender

Very responsive and the rate are good.

By: Simon (Chepachet, RI)
See All Reviews

5/1 ARM

Interest Rate
2.375%
APR
3.321%
Monthly Payment
$778
BNC National Bank
5/1 ARM
Interest Rate
2.375%
APR
3.321%
Monthly Payment
$778
BNC National Bank
Email Lender

Offer Details

Home Value $250,000
Requested Loan Amount $200,000
Lock Period 30 Days
Down Payment $50,000
Principal and Interest Payments $778
Estimated Mortgage Insurance Payments $0
Total Monthly Mortgage Payment $778
Lender Fees $3,559
Lender Credit $0
Total Closing Fees* $3,559
*Other 3rd party fees may apply
BNC National Bank
Email Lender

About the Lender

NMLS 418467BNC National Bank offers the security of a large organization while retaining the approachability and agility of a neighborhood bank. We offer Conventional, FHA, VA, USDA Rural Development and small farm loans at some of the most competitive rates in the industry!
BNC National Bank
Email Lender Write a Review

Lender Reviews

Happy camper

Yes, I recommend this lender

Farrell Bowden was great, helped us thru the process, answered all our questions, responded promptly to out emails and not only did we get a better rate than what our existing lender offered, Farrell explained the details and hidden costs our lender was trying to charge us. We closed on time, at the rate promised and with even less closing costs than originally projected. Thank You Farrell!

By: Kevin (Rancho Cordova, CA)

Don't bother with BNC- get a local bank

Started out well until everything was signed. Then, communication became more and more sparse until I was forced to sever with BNC and move to a different bank who was able to underwrite my loan ( from full application to close- because BNC would not transfer my file) in less than 3 weeks. The experience with BNC and Mark F just proved to be a waste of precious time.

By: Roz (Port Saint Joe, FL)

Great Mortgage Company

Yes, I recommend this lender

Very responsive and the rate are good.

By: Simon (Chepachet, RI)
See All Reviews
Sebonic Financial
5/1 ARM
Interest Rate
2.375%
APR
3.352%
Monthly Payment
$778
(866) 544-4064 Contact
Sebonic Financial
Email Lender

Offer Details

Home Value $250,000
Requested Loan Amount $200,000
Lock Period 30 Days
Down Payment $50,000
Principal and Interest Payments $778
Estimated Mortgage Insurance Payments $0
Total Monthly Mortgage Payment $778
Lender Fees $4,317
Lender Credit $0
Total Closing Fees* $4,317
*Other 3rd party fees may apply
Sebonic Financial
Email Lender

About the Lender

Sebonic Financial is a division of Cardinal Financial Company, a full service mortgage banking firm in operation since 1987.  The company is an approved seller/servicer for Fannie Mae, Freddie Mac and Ginnie Mae. Cardinal is also an approved lending institution for the Department of Housing and Urban Development/Federal Housing Administration and the Department of Veteran Affairs/Veterans Administration with FHAs Direct Endorsement and VA Automatic Lender Authority.  Cardinal is an authorized lender for the USDA/Rural Housing Program, the Pennsylvania Housing Finance Agency and the New Jersey Mortgage Housing Finance Agency.

 

Cardinal is licensed by the Departments of Banking in many states, mainly in the eastern and southeastern United States.  Its retail and wholesale divisions originate first mortgage loans for qualified borrowers.

Sebonic Financial
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Lender Reviews

Thomas Denton

Yes, I recommend this lender

Tom did a great job helping us with our refinance. He walked us through each step of the process. We closed on time, with even a better rate than we expected.

By: Jamie (Thomasville, NC)

I recommend Renato Paz

Yes, I recommend this lender

excellent

By: albertina (Leesburg, VA)

My experience with Sebonic Financial

Yes, I recommend this lender

Although it took a while to get the loan approved, Sebonic Financial did a great job in helping to secure my loan.

By: George (Fernandina Beach, FL)
See All Reviews
Mortgage rate quotes displayed on LendingTree LoanExplorer℠, including loan pricing data, rates and fees, are provided by third party data providers including, but not limited to, Mortech®, a registered trademark of Zillow®, LoanXEngine, a product of Mortgage Builder Software, Inc., and LoanTek, Inc.

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South Carolina Mortgage Rates and Your Path to Owning a Home

South Carolina is one of the most popular locations to live on the East Coast. It’s metropolitan without being overwhelmingly populated, and the natural beauty of the state can’t be beat. From the inviting Atlantic coast to the mountainous Blue Ridge Region, South Carolina has something for everyone.

Although current South Carolina mortgage rates change based on various factors, there are many programs available for SC residents who want to purchase a home. The vast majority of these programs are available through the South Carolina State Housing Finance and Development Authority (SCSHFDA), which offers residents access to loan programs with low mortgage interest rates.

Low SC Mortgage Interest Rates in Conforming Mortgages

South Carolina residents can take advantage of the best SC mortgage interest rates with a conforming mortgage. A conforming mortgage is delivered through conventional lenders and backed by Fannie Mae and Freddie Mac, so there are several criteria that participants must meet in order to qualify. However, the benefit to these conforming mortgages is that the interest rates are lower than current SC mortgage rates.

There is a maximum loan amount for conforming loans, which is set on a yearly basis in response to the region's median homes values. Your lender or broker should be able to discuss these limits with you, as well as the qualifications that must be met for approval.

First Time Homebuyers and SC Mortgage Interest Rates

First time homebuyers can benefit from low South Carolina mortgage rates as long as they haven’t owned a home within the last three years. They also must meet specific income and credit guidelines. The first time homebuyers program through the SC State Housing Finance and Development Authority is available in two different categories – Non-Targeted counties and Targeted counties.

Besides these location-based differentiations, the program is also separated into three different categories based on the median income of the applicants. The categories are "above 80 percent of Median Income," "50.01 to 80 percent of Median Income" and "50 percent of Median Income", each with different down payment and mortgage interest rates. Your lender or the SCSHFDA will be able to help you determine into which category you fall.

Current South Carolina Mortgage Interest Rates for Second Mortgages

Second mortgages can be obtained with current SC mortgage interest rates if you need to borrow more money if you are unable to refinance due to a decrease in the value of your home. Second mortgages in South Carolina can be obtained with two different programs.

The first is a variable-rate home equity line of credit (HELOC). A HELOC works like a revolving credit card account. The second option is a fixed-rate home equity line, which functions like a regular debt that is paid off with specific payments each month. Both of these options will let you use the equity in your home and take advantage of current home loan rates.