Refinance Calculator for South Carolina

Refinancing in South Carolina

Whether refinancing makes sense depends on how much equity you've built, the rate differential, and how long you plan to stay. In South Carolina, where the median home value is $290,000, many homeowners have accumulated significant equity since 2020. Charleston metro and Hilton Head have become premium national markets with prices up 40-60% since 2019. Greenville and Columbia have grown significantly driven by manufacturing and healthcare investment.

Conforming Loan Limits in South Carolina

For a rate-and-term refinance to qualify as a conventional loan in South Carolina, the balance must stay under $726,200. All South Carolina counties are at the standard conforming limit. Refinancing above this requires a jumbo product.

Closing Costs on a South Carolina Refinance

Expect to pay $2,900 in closing costs on a refinance 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. Your break-even point is when your monthly interest savings equal these upfront costs.

Property Tax Considerations

Refinancing doesn't affect your property tax assessment in South Carolina — the effective rate stays at 0.57% regardless. South Carolina's coastline has attracted significant second-home and vacation home investment, and those properties are taxed at 6% (commercial rate) rather than 4%, generating meaningful revenue while protecting primary residents.

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