This South Carolina mortgage calculator starts from the state's own numbers: a typical home value of about $304,000 and an average effective property tax rate of 0.51%, which is about $1,550 a year on that home. Change any field to match the home you are looking at. These rates come from owner-occupied homes, so they already include typical homeowner exemptions on a primary residence; a second home or rental can be taxed more.
$1,892
- Principal & interest
- $1,656
- Loan amount
- $243,000
- Total interest over the loan
- $353,175
How this is calculated: standard fixed-rate amortization (principal & interest), plus property tax, homeowners insurance, HOA dues and PMI entered as monthly costs. Estimates only — your lender’s actual quote depends on your credit, loan type and local rates.
How the mortgage payment is calculated
The principal-and-interest portion uses the standard fixed-rate amortization formula: M = P × r(1 + r)ⁿ ÷ ((1 + r)ⁿ − 1), where P is the loan amount, r is the monthly rate (annual rate ÷ 12) and n is the number of monthly payments. Property tax, insurance, HOA dues and PMI are added as monthly amounts.
Assumptions
- Loan type. Fixed-rate, fully amortizing. No balloon payments or interest-only periods.
- Property tax and insurance. Entered as annual amounts and divided by 12. Your actual bills depend on assessed value and your insurer.
- PMI and HOA. You enter them as monthly amounts. PMI usually applies when the down payment is under 20% and ends as equity grows.
- Not included. Closing costs, utilities, maintenance and income-tax effects.
Mortgage calculator FAQ
What is included in my estimated monthly payment?
Principal and interest on the loan, plus property tax, homeowners insurance, HOA dues and PMI if you enter them. Lenders call this PITI.
Why is my lender's number different?
Lenders use your credit, exact rate, tax bill and insurance quote. Use this tool for planning and your Loan Estimate for the real figures.
Does a larger down payment lower my payment?
Yes. It reduces the loan amount, and it can remove the need for PMI at 20%.
Sources
- Owning a Home tools and guides. Consumer Financial Protection Bureau.
- What is a debt-to-income ratio?. Consumer Financial Protection Bureau.
Updated 11/05/2026. How we update
South Carolina numbers used in this calculator
| Typical home value | $304,319 | Zillow Home Value Index, all homes (the calculator starts at $304,000) |
|---|---|---|
| Effective property tax rate | 0.51% | US Census Bureau, American Community Survey 5-year |
| Property tax on that home | $1,550 a year | Rate times home value (estimate) |
| Down payment | 20% ($61,000) | Our default; lowers PMI risk |
| Homeowners insurance | $1,280 a year | Census ACS, median for owners with a mortgage (not a quote: new policies can cost more) |
| Rate and term | Freddie Mac 30-year average (see the rate note), 30 years. | |
How much is property tax in South Carolina?
The average effective property tax rate in South Carolina is 0.51% of home value per year. On a $304,000 home that is about $1,550 a year. Your own bill depends on the county, school district and exemptions.
What is the typical home price in South Carolina?
The Zillow Home Value Index puts a typical South Carolina home at about $304,000.
More on South Carolina: property tax, income tax and home prices; South Carolina counties; the south carolina paycheck calculator. National version: mortgage calculator.