30-Year Fixed Mortgage Refinance Interest Rates in Charleston, SC

Compare mortgage rates in Charleston, South Carolina

Showing results for: 30-Year Fixed refinance offers for Single Family or Townhome properties in SC, total loan amount of $228,000.

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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 Charleston at today's rates

The median home in Charleston costs about $1,167,600. Refinancing a typical balance of $934,080 (80% of that value) at today's average 30-year fixed rate in South Carolina of 6.59% works out to roughly $5,959/month in principal and interest, with $1,211,088 of total interest over the 30-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 $23,352 (2.5% of the loan):

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 15-year fixed rate of 5.70%, the same $934,080 balance costs $7,731/month over 15 years — $1,772/month more than the 30-year fixed option, but with $753,550 less interest paid over the life of the loan.

How Much Can I Save Refinancing to 30-Year in Charleston?

In Charleston's high-cost market with $1,167,600 median homes, even small rate drops create substantial savings. Refinancing $934,080 from 7% to 6% saves $614/month-$7,368annually. Over 30 years, that's $221k in interest savings. With 15.2% annual appreciation, your home equity grows steadily, potentially qualifying you for better conforming rates over time.

What Are 30-Year Refi Closing Costs in High-Cost Charleston?

Closing costs on Charleston's higher-value homes run $18,682-$28,022 (2-3% of loan amount). On $934,080, expect $23,352 including: appraisal ($600-900 for higher values), title insurance (scales with price), lender fees (0.5-1%), and escrow setup. However, large loan savings justify costs quickly-you break even in just 38 months at 7%→6%. Even a 0.5% drop on this loan size saves $111,600 over 30 years.

Should I Do Cash-Out 30-Year Refinancing in Charleston?

Cash-out refinancing in Charleston lets you access equity while maintaining low 30-year payments. With 15.2% appreciation, if your home grew from $1,167,600 to $1,284,360, you could access up to $93,408 while keeping 20% equity. Use cases: renovations that increase value, investment opportunities, consolidating high-interest debt. Cash-out rates are 0.25-0.5% higher than rate-and-term, but the 30-year term spreads costs over time. Remember: property taxes at 0.57% ($555/month) don't change when you refinance.

How Does the Mortgage Interest Deduction Affect Charleston 30-Year Refis?

The mortgage interest deduction (limited to interest on $750,000 principal for post-2017 loans) provides tax benefits on Charleston's higher-value mortgages. On a $934,080 30-year loan at 6%, you'll pay approximately $56,045 in interest the first year-but can only deduct interest on the first $750k. At 35% marginal tax rate, you save around $16k annually in taxes. When refinancing to 30-year, you reset amortization, paying more interest early (which is deductible). Consult a CPA about SALT cap implications with Charleston's 0.57% property taxes.

How Charleston 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 30-year fixed rate of 6.59%:

Estimates use each city's median home price with the same statewide average rate; actual quotes vary by lender, credit profile, and loan size.