South Carolina First-Time Homebuyer Calculator
First-time homebuyer costs in South Carolina: $9,800 FHA down payment, $7,560 closing costs, 0.57% property tax. See total upfront costs & monthly payments.
How This Calculator Works
Calculation methodology and assumptions
First-time homebuyer cost breakdown for South Carolina. Includes down payment, closing costs (2.7%), PMI (required below 20% down), property tax (0.57%), and homeowners insurance ($2,650/yr). Note: South Carolina requires an attorney at closing. DTI ratio should stay below 43% for conventional loans and 50% for FHA.
Key State Information
South Carolina homebuyer facts: Median price $280,000 | 20% down = $56,000 | FHA 3.5% down = $9,800 | Closing costs ~$7,560 | Property tax 0.57% | Attorney required at closing.
Frequently Asked Questions
How much do I need to buy a house in South Carolina?
For South Carolina's median home ($280,000): FHA minimum down payment is $9,800 (3.5%), plus $7,560 in closing costs. Total minimum: ~$17,360. With 20% down to avoid PMI: ~$63,560.
What are closing costs in South Carolina?
South Carolina closing costs average 2.7% of the home price, or about $7,560 on the median home. This includes title insurance, appraisal, origination fees, recording fees, and required attorney fees. Transfer taxes are 0.37%.
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