South Carolina mortgage payment calculator

All-in cost first, always. Estimate only — not a loan quote or pre-approval.

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Rate via FRED

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South Carolina at a glance

Median home price
$359,900
Typical closing costs
2%–5% of price
Transfer tax
0.37% of sale price, customarily paid by seller
Closing custom
attorney
Homestead exemption
South Carolina's Homestead Exemption exempts the first $50,000 of Fair Market Value of a legal residence from property tax, for homeowners age 65+ (or permanently disabled/legally blind), who have been an SC legal resident for at least one year. Only one spouse in a jointly-owned home need meet the age/disability requirement. Applies to the home and up to 5 contiguous acres. Not automatic — apply with the county auditor between January 1 and July 15 of the year after turning 65. This is separate from and stacks on top of SC's 4% owner-occupied assessment ratio (vs. 6% for non-owner-occupied property), which is the larger driver of SC's low effective property tax rates and is not age-restricted.

First-time buyer / down payment assistance programs

  • SC Housing Homebuyer Program

    South Carolina State Housing Finance and Development Authority's primary fixed-rate first mortgage (FHA/VA/USDA/Conventional) for first-time homebuyers statewide, paired with optional down payment assistance (DPA) structured as a 0%-interest forgivable second mortgage, forgiven after 15 years of owner-occupancy; subject to county-specific income and home price limits.

  • SC Housing First-Generation Homebuyer Program

    Provides qualifying first-generation homebuyers (whose parents/guardians have not owned a home, or lost a home to foreclosure) with $10,000 in down payment assistance and an enhanced, lower fixed interest rate, layered on top of the standard SC Housing Homebuyer Program.

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Affordability calculator

Income, savings, and debts in — max home price and qualification signal out.

PMI removal calculator

When your PMI is scheduled to end, by law and by request.

Mortgage points calculator

Should you buy down your rate? Break-even and lifetime cost comparison.

Related reading

Closing Costs in South Carolina: What You'll Actually Pay

8 min read

South Carolina's transfer tax is only 0.37% and the seller usually pays it — but state law requires an attorney at every closing. Here's the real math on a $359,900 home.

What Is PMI, and How Do You Get Rid of It?

15 min read

Private mortgage insurance explained in plain English — what it costs, why it exists, the exact federal rules for cancelling it, and how to work out the month your PMI is scheduled to end.

Guides & templates

Buying a Home With Someone Else

$4.99

The operational guide to buying property with a partner, friend, sibling, or parent — credit and DTI mechanics, title vesting, a clause-by-clause co-ownership agreement, and how the exit actually works.

The First-Time Buyer's Playbook: 12 Months to Closing Day

$4.99

A month-by-month plan for the year before you buy: what to do in each phase, what never to touch, how to document every dollar, and how to survive closing day.