See current South Carolina Refinance fixed rates (30 Year, 20, 15, 10, FHA, VA and Jumbo), variable rates (10 year, 7, 5, 3), Cash Out rates, plus comparisons with national averages and lender types. Refinancing in South Carolina can help lower your monthly payment, shorten your loan term, or tap into equity with a cash-out refinance.
South Carolina Refinance Rates –
Find community reported rates by South Carolina homeowners (rates are average APR).
| Credit Score | Satisfaction | |||
|---|---|---|---|---|
| 720 - 850 | 690 - 719 | 620 - 689 | ||
| Nationally | 6.54% | 6.59% | 6.64% | |
| South Carolina | 6.50% | 6.55% | 6.60% | |
| Credit Unions | 6.10% | 6.15% | 6.30% | 9.3/10 |
| Online lenders | 6.20% | 6.25% | 6.40% | 8.3/10 |
| Banks | 6.50% | 6.55% | 6.60% | 7.7/10 |
| 30 year fixed | 6.50% | 6.55% | 6.60% | |
| 30 year fixed FHA | 6.77% | 6.82% | 6.87% | |
| 30 year fixed VA | 6.10% | 6.15% | 6.20% | |
| 30 year fixed Jumbo | 6.61% | 6.85% | 7.04% | |
| 20 year fixed | 6.01% | 6.06% | 6.11% | |
| 15 year fixed | 5.85% | 5.91% | 5.96% | |
| 10 year fixed | 5.75% | 5.80% | 5.85% | |
| 3 year ARM | 3.54% | 3.59% | 3.64% | |
| 5 year ARM | 6.34% | 6.39% | 6.44% | |
| 7 year ARM | 6.59% | 6.64% | 6.69% | |
| 10 year ARM | 6.39% | 6.44% | 6.49% | |
| Satisfaction | 8.7/10 | 8.5/10 | 7.7/10 |
Source: MFP’s Community Home Refinance Rates Survey of South Carolina members in the last 30 days.
Cash Out Refinance Rates in South Carolina –
Find community reported cash-out refinance rates by South Carolina homeowners (rates are average APR).
| Credit Score | |||
|---|---|---|---|
| 720 - 850 | 690 - 719 | 620 - 689 | |
| Nationally | 6.66% | 6.79% | 6.91% |
| South Carolina | 6.62% | 6.75% | 6.87% |
| Credit Unions | 6.22% | 6.35% | 6.57% |
| Online lenders | 6.32% | 6.45% | 6.67% |
| Banks | 6.62% | 6.75% | 6.87% |
| 30 year fixed | 6.62% | 6.75% | 6.87% |
| 30 year fixed FHA | 6.89% | 7.02% | 7.14% |
| 30 year fixed VA | 6.22% | 6.35% | 6.48% |
| 30 year fixed Jumbo | 6.73% | 6.86% | 6.98% |
| 20 year fixed | 6.13% | 6.26% | 6.39% |
| 15 year fixed | 5.98% | 6.11% | 6.23% |
| 10 year fixed | 5.88% | 6.00% | 6.13% |
| 3 year ARM | 3.67% | 3.79% | 3.92% |
| 5 year ARM | 6.46% | 6.59% | 6.71% |
| 7 year ARM | 6.71% | 6.84% | 6.97% |
| 10 year ARM | 6.51% | 6.64% | 6.77% |
Source: MFP’s Community Home Refinance Rates Survey of South Carolina members in the last 30 days.
How South Carolina Compares to National Averages
- South Carolina refinance rates (6.50% for best credit scores) are in line with national averages (national average: 6.54%).
- Credit unions are more competitive: In South Carolina, credit unions offer 6.35%, banks 6.60%, online lenders 6.45%.
- Borrower satisfaction: Credit unions 8.7/10, Online lenders 8.4/10, Banks 8.1/10.
Refinance Options in South Carolina
- 30-year Fixed: At 6.50% APR for excellent credit, South Carolina's most popular choice for stable long-term payments with predictable monthly costs
- 30-year Fixed FHA: At 6.77% APR for excellent credit, government-backed programs with competitive terms and flexible qualification requirements
- 30-year Fixed VA: At 6.10% APR for excellent credit, exclusive to eligible veterans and military members, featuring South Carolina's most competitive rates
- 30-year Fixed Jumbo: At 6.61% APR for excellent credit, for high-value homes with competitive jumbo mortgage terms
- 20-year Fixed: At 6.01% APR for excellent credit, a balanced option between shorter and longer terms with moderate payments
- 15-year Fixed: At 5.85% APR for excellent credit, lower interest rates but higher monthly payments, ideal for building equity faster
- 10-year Fixed: At 5.75% APR for excellent credit, the shortest fixed-term option with competitive rates for rapid equity building
- Adjustable-rate mortgages (ARMs): Various terms including 3-year (3.54% APR), 5-year (6.34% APR), 7-year (6.59% APR), and 10-year (6.39% APR) options that start lower but may adjust upward after initial fixed period
Metro Area Rates
| Metro / City | 30-Year Fixed APR | 15-Year Fixed APR |
|---|---|---|
| Columbia | 6.53% | 5.89% |
| Charleston | 6.52% | 5.89% |
| Greenville | 6.51% | 5.88% |
| Myrtle Beach | 6.50% | 5.87% |
| Online lenders | 6.21% | 5.88% |
* APR Rates shown are for borrowers with the best credit scores. Click the city name to see community recommended lenders and ratings
Compare Lenders Rated by South Carolina Homeowners
Looking beyond rates, South Carolina homeowners rated their refinance lenders on:
- Ease of application
- Rates and terms offered
- Customer support and advice
- Overall recommendation %
See the Best Mortgage Refinance Lenders in South Carolina
FAQs – South Carolina Refinance Rates
Are refinance rates lower in South Carolina than the U.S. average?
They’re slightly lower. South Carolina averages 0.09% lower than the national benchmark for top credit scores.
What’s the best credit score for refinancing in South Carolina?
Borrowers with scores above 720 typically access the lowest rates (around 6.51% for 30-year fixed).
Which lenders have the highest satisfaction in South Carolina?
Credit unions lead in borrower satisfaction at 8.5/10, followed by banks (8.1/10).
More Info for South Carolina Homeowners:
South Carolina Best Refinance Lenders from Community recommendations
South Carolina Home Equity Loan & South Carolina HELOC Rates
Loans Comparison Calculator: Compare Cost of Heloc, Cash-Out, Home Equity, Renovation Loan
South Carolina Best Home Insurance from Community recommendations & Costs