South Carolina Refinance Rates & Programs 2026

South Carolina offers affordable housing and moderate refinancing costs. From Charleston to Columbia and Greenville, here's what you need to know about refinancing in the Palmetto State.

Current South Carolina Refinance Rates

| Loan Type | Average Rate | |-----------|--------------| | 30-Year Fixed | 6.22% | | 15-Year Fixed | 5.54% | | FHA 30-Year | 6.17% | | VA 30-Year | 5.50% |

Coastal properties may require flood insurance. Use our refinance calculator.

South Carolina-Specific Programs

South Carolina State Housing Finance and Development Authority (SC Housing)

• Palmetto Heroes down payment assistance (veterans, first responders, teachers)
• If you used assistance, check subordination before refinancing
• Mortgage Credit Certificates available

USDA Refinancing

Rural SC counties qualify for USDA loans outside Charleston, Columbia, and Greenville.

VA Loans

SC has multiple military installations. VA IRRRL widely used.

Cost of Refinancing

Moderate costs:

| Cost Item | Typical Amount | |-----------|---------------| | Origination | $0 - $2,000 | | Appraisal | $400 - $600 | | Title | $700 - $1,200 | | Recording | $50 - $100 | | Attorney (required) | $500 - $1,000 | | Total | $4,000 - $7,000 |

SC requires attorney representation at closing.

No state mortgage tax.

When to Refinance

Refinance if rates dropped 0.75%-1.0%, eliminate PMI, or consolidate debt.

FAQ

How long? 30-40 days. Do I need attorney? Yes, SC requires attorney representation. Property taxes change? No. Coastal flood insurance? Required if in flood zone. Credit score? 580 FHA, 620 conv, 740+ best.

Bottom Line

SC's attorney requirement adds cost but provides protection. Refinancing makes sense when rates drop 0.75%-1.0%.

Get quote: See rates.

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Author: Bill McCoy, 15 years experience.