Mortgage Calculator South Carolina 2026: Payment, PMI & Deed Fee
This mortgage calculator for South Carolina estimates your full monthly payment — principal & interest, property tax, homeowners insurance and PMI — plus the state deed recording fee. Enter your own rate; everything is calculated privately in your browser.
A mortgage calculator for South Carolina estimates the full monthly cost of a South Carolina home loan: principal and interest from standard amortization, plus property tax, homeowners insurance and private mortgage insurance (PMI) when you put down less than 20%. It also shows South Carolina’s deed recording fee of $1.85 per $500, owed by the seller.
How the Mortgage Calculator South Carolina Formula Works (Worked Example)
Principal and interest use the standard amortization formula M = P × r(1+r)n ÷ ((1+r)n − 1), where P is the loan amount, r the monthly rate (annual rate ÷ 12) and n the number of payments. Property tax is the home price × your local rate ÷ 12, insurance is your annual premium ÷ 12, and PMI is the loan amount × your PMI rate ÷ 12. Example: a $300,000 South Carolina home, 10% down, 30-year fixed at a user-entered 6.5% (click Load Example above to reproduce it).
| Item | Inputs | Monthly |
|---|---|---|
| Principal & interest | $270,000 loan, 6.5%, 360 payments | $1,706.58 |
| Property tax | 0.49% of $300,000 ($1,470/yr) | $122.50 |
| Homeowners insurance | $1,600/yr (example — use your quote) | $133.33 |
| PMI | 0.6% of $270,000 ($1,620/yr) | $135.00 |
| Total monthly payment | $2,097.42 | |
| Deed recording fee (one-time, usually seller) | $300,000 ÷ $500 × $1.85 | $1,110.00 |
Over 30 years this loan pays about $344,370 in interest. Your rate is an input, not an assumption — check the current weekly national average in Freddie Mac’s Primary Mortgage Market Survey and compare lender Loan Estimates.
South Carolina Property Tax Rate and Your Monthly Payment
South Carolina homeowners paid an effective property tax rate of about 0.49% of home value in 2024 Census ACS data, according to the Tax Foundation’s Property Taxes by State and County, 2026 — among the lowest in the US. The low rate depends on the legal-residence classification: an owner-occupied primary home is assessed at 4% of fair market value instead of 6%, and it is exempt from school operating millage. You must apply for it with the county assessor; a second home or rental will owe noticeably more, so raise the rate if the home will not be your primary residence.
| Local rate | Annual tax on $300,000 | Added to monthly payment |
|---|---|---|
| 0.35% | $1,050 | $87.50 |
| 0.49% (statewide effective average) | $1,470 | $122.50 |
| 1.00% | $3,000 | $250.00 |
South Carolina Closing Costs: Deed Recording Fee
South Carolina’s transfer tax is the deed recording fee under S.C. Code § 12-24-10: $1.85 for each $500 of realty value or fractional part ($1.30 state plus $0.55 county). The grantor (seller) is liable for it, with the grantee secondarily liable, and it is paid when the deed is recorded.
| South Carolina item | Amount | Usually paid by |
|---|---|---|
| Deed recording fee (S.C. Code § 12-24-10) | $1.85 per $500 or fraction — $1,110 on $300,000 | Seller (grantor) |
| Escrow deposits for tax and insurance | Set by your lender — see your Loan Estimate | Buyer |
| Lender, appraisal, title and recording charges | Vary by lender, title company and county — compare Loan Estimates | Negotiable |
Some costs are negotiable, and sellers sometimes cover part of a buyer’s closing costs as a concession.
How South Carolina Mortgage Rates Affect Your Payment
Rates in South Carolina follow national mortgage markets and vary by lender, credit score, down payment and loan type. On a $305,000 home with 20% down, an example 6.9% rate produces a monthly principal and interest payment of approximately $1,607. A 0.25% rate increase adds roughly $41 to that payment, so shopping multiple lenders can save thousands over the life of the loan.
Adjustable-rate mortgages (ARMs) often start lower but carry rate-reset risk. Most South Carolina homebuyers choose 30-year fixed loans for payment predictability. FHA loans (3.5% down) and VA loans (0% down for veterans) are also popular in South Carolina.
First-Time Buyer Programs in South Carolina
SC Housing (the South Carolina State Housing Finance and Development Authority) offers the SC Housing Homebuyer Program for eligible buyers. Check current eligibility and limits with SC Housing or a participating lender.
FHA loans are available nationwide and require only 3.5% down with a 580+ credit score — ideal for first-time buyers in South Carolina who have limited savings. USDA loans offer 0% down for eligible rural properties in South Carolina. VA loans are available to qualified veterans and active-duty service members with no down payment required and no PMI.
If your down payment is below 20%, Private Mortgage Insurance (PMI) on a $244,000 loan adds approximately $122/month at a 0.6% annual rate. The Urban Institute puts typical PMI at roughly 0.46%–1.5% of the loan per year depending on credit score. PMI can be removed once your loan-to-value ratio reaches 80%, so extra payments accelerate the timeline to dropping PMI.
Last updated: October 2026. Estimates only — confirm figures with your lender and local tax office.
Frequently Asked Questions
What is the average mortgage rate in South Carolina in 2026?
South Carolina mortgage rates track national averages and change weekly. Check the Freddie Mac Primary Mortgage Market Survey for the current 30-year fixed average, then compare quotes from several lenders - your rate depends on credit score, down payment and loan type.
What is the average monthly mortgage payment in South Carolina?
For a $305,000 home with 20% down in South Carolina, the estimated PITI (principal, interest, taxes, and insurance) is approximately $1,865/month at an example 6.9% rate, assuming a 0.49% property tax rate and $1,600 a year for insurance.
Do I need PMI in South Carolina?
Yes — if your down payment is less than 20%, lenders in South Carolina require Private Mortgage Insurance (PMI) on conventional loans. The Urban Institute puts typical PMI at about 0.46%–1.5% of the loan amount per year, depending on credit score. PMI is removed once you reach 20% equity.
What is the average home price in South Carolina?
The $305,000 default in this calculator is an example price, not a measured statewide median. Home prices vary widely by city and county in South Carolina, so enter the price of the home you are considering or recent sales from your agent.
What is the property tax rate in South Carolina?
South Carolina homeowners paid an effective property tax rate of about 0.49% of home value in 2024 Census data (Tax Foundation, 2026) - roughly $1,494 a year on a $305,000 home. Owner-occupied legal residences are assessed at 4% instead of 6% and skip school operating millage, so second homes pay noticeably more.
How much is the deed recording fee in South Carolina?
South Carolina charges a deed recording fee of $1.85 for each $500 of value or fractional part under S.C. Code 12-24-10 ($1.30 state plus $0.55 county) - $1,110 on a $300,000 home. The seller (grantor) is liable for it, and the buyer is secondarily liable.
How much house can I afford in South Carolina on a $75,000 salary?
Using the common 28% guideline (housing cost at or below 28% of gross monthly income), a $75,000 salary supports about $1,750 a month of PITI. At an example 6.9% rate with 20% down, 0.49% property tax and $1,600 a year insurance, that is a home price of about $285,000. Your lender also weighs your other debts.
Is it worth refinancing a South Carolina mortgage in 2026?
Compare the monthly saving with the refinance costs. On a $244,000 30-year loan, cutting the rate from 6.9% to 5.9% lowers principal and interest from about $1,607 to $1,447 - roughly $160 a month. If refinancing costs $4,880 (2% of the loan, an example), you break even after about 31 months. Use the costs on your own Loan Estimate.
What is the monthly payment on a $300,000 house in South Carolina?
With 10% down and a 30-year fixed loan at 6.5%, principal and interest is about $1,707 a month. Adding 0.49% property tax ($122), $1,600 a year insurance ($133) and 0.6% PMI ($135) brings the total to about $2,097 a month.