15-Year Fixed Mortgage Refinance Interest Rates in Greenville, SC
Explore 15-year fixed mortgage refinance rates in Greenville, SC over time.
5.746%5.75%
5.748%5.75%
Timeframe
Daily refinance averages provided by the Mortgage Research Center.
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.
| Lender | APR / Rate | Monthly Payment | |
|---|---|---|---|
Rate data provided by RateUpdate.com. Displayed by Mortgage Research Center, NMLS #1907, Equal Housing Opportunity. Rates and fees are estimates and subject to change without notice. Payments do not include taxes and insurance premiums. Actual payments may be higher. Not all lenders participate in this marketplace. Loan availability and terms may vary by state and lender. Lender offers, including badges like “Lowest APR” or “Lowest Payment,” are based only on results displayed here and may not reflect the absolute lowest offer available in the market. Rate and product details
What refinancing looks like in Greenville at today's rates
The median home in Greenville costs about $493,700. Refinancing a typical balance of $394,960 (80% of that value) at today's average 15-year fixed rate in South Carolina of 5.75% works out to roughly $3,279/month in principal and interest, with $195,250 of total interest over the 15-year term.
Here is how the monthly payment and break-even point change if you wait for (or negotiate) a lower rate, assuming closing costs of $9,874 (2.5% of the loan):
| Rate | Monthly P&I | Monthly savings | Break-even |
|---|---|---|---|
| 5.75% (today) | $3,279 | — | — |
| 5.50% (−0.25%) | $3,226 | $53/mo | 187 months |
| 5.25% (−0.50%) | $3,174 | $105/mo | 95 months |
| 5.00% (−0.75%) | $3,122 | $157/mo | 63 months |
| 4.75% (−1.00%) | $3,071 | $208/mo | 48 months |
Estimates use principal and interest only and today's average South Carolina rate; they exclude taxes, insurance, and rate differences from credit score or loan size.
Weighing the term itself? At today's South Carolina average 30-year fixed rate of 6.66%, the same $394,960 balance costs $2,537/month over 30 years — $742/month less than the 15-year fixed option, at the cost of $323,042 more interest over the life of the loan.
Should I Refinance from 30-Year to 15-Year in Greenville?
In Greenville's hot market with 15.2% 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 $813increase. 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 15.2% appreciation ($75,042/year on median homes), and your total equity grows $335,716 in year one. By year 5: over $1,679k 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 $394,960loan, 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.
Accelerate Equity with a 15-Year Refinance in Greenville
Let’s talk about that incredible 17.6% appreciation rate. Your Loan-to-Value (LTV) measures how much you owe versus what the home is worth.
With an explosive 17.6% jump in value, an average Greenville home gained nearly $87,000 in equity. If you are paying Private Mortgage Insurance (PMI), refinancing right now allows you to reappraise at this new, higher value. This drops your LTV well below the 80% threshold required to cancel PMI forever.
Property Tax Tip for Greenville Homeowners
Don't let rising assessments eat your refinance savings. Rolling your closing costs into your new loan can free up the cash you need to cover any unexpected escrow shortages in Greenville County.
State & Local Assistance in Greenville
Take advantage of SC Housing. Their regular assistance programs and competitive rates are incredible tools for keeping long-term homeownership deeply affordable.
How Greenville compares across South Carolina
Median home prices vary widely across South Carolina, which changes what a typical refinance costs. Here is the estimated monthly principal and interest on a median-priced home (80% loan-to-value) at today's average 15-year fixed rate of 5.75%:
| City | Median home price | Est. monthly P&I | vs. Greenville |
|---|---|---|---|
| Greenville | $493,700 | $3,279 | — |
| Summerville | $278,100 | $1,847 | −$1,432/mo |
| Columbia | $234,500 | $1,557 | −$1,722/mo |
| Florence | $209,200 | $1,389 | −$1,890/mo |
Estimates use each city's median home price with the same statewide average rate; actual quotes vary by lender, credit profile, and loan size.