Skip to main content
_FB_2018-Icons-finalized-cleaned-up_new_FB_2018-Icons-finalized-cleaned-up_newGroup 9
Back
Scroll to top

Current 30 Year Mortgage Rates – South Carolina

If you’re looking for current mortgage rates in SC, it’s a great time to buy!

In a recent survey conducted by GoBankingRates, the state ranked 27th in the nation for the lowest average home mortgage. The study combined 30-year fixed, 15-year fixed, and five-year ARMs (adjustable rate mortgages) to rank each state by the average cost of a mortgage.
30 Year Mortgage Rates - South Carolina

Current Mortgage Rates in SC

First Bank offers conventional home loans, including a 30-year fixed-rate mortgage. This types of mortgages are extremely popular among home buyers because the longer loan term allows for smaller, predictable payments. With First Bank’s 30-year conventional loan, your interest rate and monthly principal will never change, allowing you to budget more easily.

If you plan to live in your house for a long time, a 30-year fixed-rate loan could be a good option for you and your family.

What Affects Current Mortgage Rates in SC?

30-year mortgage interest rates vary depending on a variety of things, such as:

  • Economic factors. Lending is riskier in some states than others due to unemployment rates, default and foreclosure rates and differing property values.
  • State laws. States that allow recourse typically have lower mortgage rates. Recourse is the recovery of additional money from borrowers who default and the foreclosure sale doesn’t earn enough to pay off the mortgage.
  • Size of competition. More lenders competing for your business means lower costs.
  • Types of preferred loans. States with more military bases will likely see more VA loans, states with more rural housing might have more USDA loans, etc.
  • Market conditions. An increase or decrease in home building and sales regionally or nationally can drive interest rates up or down.
  • Government. Government policies like the Federal Reserve can dictate the fluctuation of interest rates.

As you can see, there are a number of reasons why a 30-year mortgage rate in South Carolina can vary. The best way to find out what your interest rate will be is by speaking with a First Bank mortgage specialist.

If you are ready to apply for a 30-year mortgage, you can find out your interest rate by starting an online application with First Bank.


Loans subject to credit approval.

———-

Source:

Housing Wire: https://www.housingwire.com/articles/48165-this-is-how-mortgage-rates-vary-by-state/

Trending Topics

How to Apply for a Small Business Loan in Florence, SC

Every successful business began with an idea. In most cases, that idea was followed by asking the common question of how to apply for a small business loan. In Florence, SC, it’s easy to apply for a small business...

Loan for a Brewery – Asheville NC

Need a Loan for your Brewery in Asheville? Breweries have become a booming business across the state in recent years, particularly in Asheville. Between 2006 and 2013, the number of breweries in North Carolina skyrocketed...

Find Remodeling Loans in Asheville, NC

First Bank offers remodeling loans in Asheville, NC, for homes or businesses to get you started on turning your vision into a reality. Our Asheville loan officers will work with you to establish a loan and complete the...

Home Mortgage Calculator from First Bank

A home mortgage calculator can help you determine your monthly mortgage payments. This will help you financially prepare for that future purchase, whether you are a first-time homebuyer or seeking a vacation home. You can...

Savings Account with Competitive Interest Rates – High Point, NC

Whether you are a student looking to save for books and pizza, or an adult planning for retirement, First Bank can provide you with a savings account. Interest rates on all of our accounts can vary, but you can be sure...

Small Business Startup Loans in North Carolina

If you have a good idea and a little bit of business savvy, a small business startup loan can serve as the cornerstone to your fortune. Whether it’s a traditional business loan, credit line, commercial mortgage,...

Best Banking Rates and Services: First Bank, NC

There are many factors to consider when assessing a checking account comparison. You’ll want to weigh interest rates, maintenance fees, ATM options, online features and more. First Bank has nearly 100 locations...

First Bank: Financing Loans for Businesses

Choosing a bank to finance the right loan for your business is a critical decision. There are loans that cater to the established business looking to expand, and there are loans for the entrepreneur just getting...

Hassle Free Checking Account Near Me

At First Bank, we don’t believe in charging unnecessary fees and diminishing your hard earned cash. That’s why we offer five options for hassle-free checking accounts provided you meet some basic monthly...

Best Savings Account for Kids in Wilmington, NC

By simply opening one of the best savings account for kids in Wilmington, NC, you can set your child up for future financial security through First Bank. First Bank has five locations in Wilmington, and each offers a...