Not financial advice. Mortgage FV Calculator is a software calculator, not a personal-finance product or advisory service. It computes standard financial functions and displays the results for your convenience. Nothing here constitutes, or is intended to constitute, financial, investment, tax, legal, mortgage, credit, or insurance advice. Always consult a qualified professional before making any financial decision.
South Carolina mortgage costs
What a typical South Carolina (SC) purchase actually costs each month once property tax, insurance and PMI are included — and how to model your own numbers.
| Median home price | $310,000 |
|---|---|
| 10% down payment | $31,000 |
| Loan amount | $279,000 |
| Principal & interest (30yr @ 6.75%) | $1,810/mo |
| Property tax (0.53%) | $137/mo |
| Homeowners insurance | $217/mo |
| PMI (until 20% equity) | $116/mo |
| Estimated total monthly | $2,279/mo |
Illustrative only, at a 6.75% sample rate with 10% down. Your rate, tax assessment and insurance premium will differ.
What makes South Carolina different
Owner-occupiers are assessed at 4% of value versus 6% for second homes, so the same house costs a landlord far more to hold.
Property tax is the cheap part of owning here. At 0.53% the effective rate is the 4th lowest in the country, which on a median $310,000 home is only $137 a month — $1,643 a year that buyers in higher-rate states simply have to find.
Worth noticing: insurance costs more than property tax here ($217 against $137 a month). That is the minority case nationally, and it means the usual advice to shop for a lower assessment matters less than shopping the policy.
Homeowners insurance is unusually expensive here — $2,600 a year, the 12th highest in the country. That is $217 a month, and unlike principal and interest it is not fixed for thirty years; premium increases land on top of a payment you already committed to.
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