15-Year Fixed Mortgage Refinance Interest Rates in Greenville, SC

Compare mortgage rates in Greenville, South Carolina

Showing results for: 15-Year Fixed refinance offers for Single Family or Townhome properties in SC, total loan amount of $228,000.

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Should I Refinance from 30-Year to 15-Year in Greenville?

In Greenville's hot market with 17.8% appreciation, refinancing to a 15-year term accelerates both forced and natural equity building. On a $394,960 loan, switching from 30-year at 7% to 15-year at 6.5% increases your payment from $2,628 to $3,441/month-a $813 increase. However, you'll save $327k in interest over the loan's life and build equity twice as fast. Combined with Greenville's rapid appreciation, this strategy maximizes wealth building for homeowners who can afford higher payments.

How Much More Will My Payments Be with a 15-Year Refi in Greenville?

Refinancing $394,960 from 30-year (7%) to 15-year (6.5%) increases your principal and interest payment by $813/month. Including Greenville's $235/month property tax at 0.57%, your total PITI jumps from approximately $3,013 to $3,826. Can you afford the increase? If your Greenville home appreciated from $493,700 to $567,755, refinancing to 15-year builds equity even faster, compounding with market growth.

How Fast Will I Build Equity with a 15-Year Refi in Greenville?

Dramatically faster than 30-year loans. In the first year of a 15-year mortgage at 6.5%, approximately $21,723 of your $3,441 monthly payment goes to principal -versus only $7,899 monthly on a 30-year. Add Greenville's 17.8% appreciation ($87,879/year on median homes), and your total equity grows $348,552 in year one. By year 5: over $1,743k in combined equity.

What Are 15-Year Refinance Closing Costs in Greenville?

Expect $7,899-$11,849 (2-3% of loan amount) for 15-year refinancing in Greenville. On a $394,960 loan, that's approximately $9,874. While the monthly payment increase is $813, you're not "losing" that money-it goes to principal, building equity. The true benefit: $327k interest savings over the loan's life. With Greenville's hot market appreciation, you're building wealth on two fronts: accelerated paydown + market gains.