Down Payment Calculator for South Carolina

Down Payment Planning in South Carolina

With a median home value of $290,000 in South Carolina, here's what different down payment tiers look like:

• 3% (First-time buyer programs): $8,700
• 3.5% (FHA minimum): $10,200
• 10% (Avoid PMI with some lenders): $29,000
• 20% (Eliminate PMI entirely): $58,000

Conforming Loan Limits in South Carolina

The conforming loan limit in South Carolina is $726,200. All South Carolina counties are at the standard conforming limit. If your loan exceeds this, you'll need jumbo financing, which typically requires a 20%+ down payment.

Closing Costs to Plan For

Beyond your down payment, budget for closing costs of around $2,900 in South Carolina. South Carolina charges a deed recording fee ($1.85/$500 of value) and a mortgage recording fee. Total closing costs are moderate by Southeast standards.

Property Tax Impact

South Carolina's effective property tax rate is 0.57% (average annual bill: $1,322). A larger down payment reduces your monthly mortgage but property taxes remain constant regardless of how much you put down.

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