FHA Loan Calculator — South Carolina
On the typical South Carolina home ($306,000), 3.5% down leaves a $295,290 base loan. The 1.75% upfront premium ($5,168) is financed, for a $300,458 loan, and annual MIP of 0.55% adds $137 a month for the life of the loan. South Carolina FHA limits run $541,287–$832,750 by county.
South Carolina has the 5th-lowest effective property tax rate of the 50 states at 0.49% — $1,285 less a year than the 0.91% state average on a $306,000 home. Homeowners insurance averages $2,974 a year, the 16th-highest premium nationally and $254 more than the typical state.
Loan Parameters
Total Monthly Payment
$2,515
Principal & Interest + Taxes + Insurance
APR 7.761%
Total Interest
$421,345
Total Cost
$888,968
Advanced Parameters
FHA Mortgage Insurance Premium (MIP)
Annual MIP of 0.55% is billed monthly on the average balance of each loan year. With less than 10% down it lasts for the life of the loan; with 10% or more down it ends after 11 years. A 1.75% upfront premium is also added to the loan.
Loan Summary
Payoff Date
Sep 2056
Interest / Principal
1.40x
Mortgage Insurance Ends
Full term
50% Equity
Jul 2048
Amortization Schedule
| Period | Payment | Principal | Interest | MIP | Balance | Equity |
|---|---|---|---|---|---|---|
| Year 1 | $24,060 | $3,034 | $21,026 | $1,645 | $297,423 | $8,577 |
| Year 2 | $24,060 | $3,255 | $20,805 | $1,628 | $294,168 | $11,832 |
| Year 3 | $24,060 | $3,491 | $20,569 | $1,609 | $290,677 | $15,323 |
| Year 4 | $24,060 | $3,745 | $20,315 | $1,589 | $286,932 | $19,068 |
| Year 5 | $24,060 | $4,017 | $20,044 | $1,568 | $282,916 | $23,084 |
| Year 6 | $24,060 | $4,308 | $19,752 | $1,545 | $278,608 | $27,392 |
| Year 7 | $24,060 | $4,621 | $19,439 | $1,521 | $273,987 | $32,013 |
| Year 8 | $24,060 | $4,957 | $19,104 | $1,495 | $269,030 | $36,970 |
| Year 9 | $24,060 | $5,316 | $18,744 | $1,466 | $263,714 | $42,286 |
| Year 10 | $24,060 | $5,702 | $18,358 | $1,436 | $258,011 | $47,989 |
| Year 11 | $24,060 | $6,117 | $17,944 | $1,404 | $251,895 | $54,105 |
| Year 12 | $24,060 | $6,561 | $17,499 | $1,369 | $245,334 | $60,666 |
| Year 13 | $24,060 | $7,037 | $17,023 | $1,332 | $238,297 | $67,703 |
| Year 14 | $24,060 | $7,548 | $16,512 | $1,292 | $230,749 | $75,251 |
| Year 15 | $24,060 | $8,096 | $15,964 | $1,249 | $222,653 | $83,347 |
| Year 16 | $24,060 | $8,684 | $15,376 | $1,203 | $213,969 | $92,031 |
| Year 17 | $24,060 | $9,314 | $14,746 | $1,154 | $204,655 | $101,345 |
| Year 18 | $24,060 | $9,991 | $14,069 | $1,101 | $194,664 | $111,336 |
| Year 19 | $24,060 | $10,716 | $13,344 | $1,044 | $183,948 | $122,052 |
| Year 20 | $24,060 | $11,494 | $12,566 | $983 | $172,454 | $133,546 |
| Year 21 | $24,060 | $12,329 | $11,731 | $918 | $160,125 | $145,875 |
| Year 22 | $24,060 | $13,224 | $10,836 | $848 | $146,901 | $159,099 |
| Year 23 | $24,060 | $14,184 | $9,876 | $773 | $132,717 | $173,283 |
| Year 24 | $24,060 | $15,214 | $8,846 | $692 | $117,503 | $188,497 |
| Year 25 | $24,060 | $16,319 | $7,741 | $606 | $101,184 | $204,816 |
| Year 26 | $24,060 | $17,504 | $6,556 | $513 | $83,680 | $222,320 |
| Year 27 | $24,060 | $18,775 | $5,285 | $414 | $64,906 | $241,094 |
| Year 28 | $24,060 | $20,138 | $3,922 | $307 | $44,768 | $261,232 |
| Year 29 | $24,060 | $21,600 | $2,460 | $192 | $23,168 | $282,832 |
| Year 30 | $24,059 | $23,168 | $892 | $70 | $0 | $306,000 |
FHA Loan numbers for South Carolina
- Typical South Carolina home value
- $306,000
- 3.5% down ($10,710) · Zillow, August 31, 2026
- Loan amount
- $300,458
- Includes $5,168 financed UFMIP
- Estimated monthly payment
- $2,515
- APR 7.761%
- South Carolina property tax
- 0.49%
- $125/mo
- Homeowners insurance
- $2,974/yr
- $248/mo
- Upfront MIP (1.75%)
- $5,168
- Financed into the loan
- Annual MIP
- 0.55%
- $137/mo in year 1 · life of loan
- South Carolina FHA loan limit
- $541,287 – $832,750
- One-unit, by county
How much house can you afford in South Carolina with an fha loan?
Highest price where principal, interest, South Carolina property tax, insurance and FHA mortgage insurance (1.75% upfront premium financed, 0.55% annual MIP) stay within 28% of gross income —3.5% down, 30-year fixed at 7.03%. Other debts lower these numbers.
| Household income | Housing budget / mo | Max home price | Down payment | vs typical home |
|---|---|---|---|---|
| $40,000 | $933 | $92,000 | $3,220 | 30% |
| $50,000 | $1,167 | $123,000 | $4,305 | 40% |
| $60,000 | $1,400 | $155,000 | $5,425 | 51% |
| $75,000 | $1,750 | $202,000 | $7,070 | 66% |
| $100,000 | $2,333 | $281,000 | $9,835 | 92% |
| $125,000 | $2,917 | $360,000 | $12,600 | 118% |
| $150,000 | $3,500 | $438,000 | $15,330 | 143% |
FHA vs other loan types in South Carolina
$306,000 home, each program's typical minimum or default down payment, current average 30-year rate.
| Loan type | Down | Loan amount | Upfront fee | Monthly MI | Total / month | APR |
|---|---|---|---|---|---|---|
| Conventional | 10% · $30,600 | $275,400 | — | $165 PMI | $2,376 | 7.488% |
| FHA | 3.5% · $10,710 | $300,458 | UFMIP $5,168 | $137 MIP | $2,515 | 7.761% |
| VA | 0% · $0 | $312,579 | Funding fee $6,579 | $0 | $2,459 | 7.242% |
| JumboLoan is conforming (≤ $832,750) | 20% · $61,200 | $244,800 | — | $0 | $2,006 | 7.030% |
Frequently asked questions
What is the monthly payment on a $306,000 home with an fha loan in South Carolina?
Estimated $2,515 per month ($2,005 principal & interest, $125 property tax, $248 insurance, $137 FHA mortgage insurance) at 7.03% for 30 years, with 3.5% down. APR 7.761%.
What is the FHA loan limit in South Carolina for 2026?
Between $541,287 and $832,750 depending on the county for a one-unit home. $541,287 is the national FHA floor; counties with higher home prices get higher limits. Check your exact county on HUD's FHA mortgage limits lookup.
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Data sources & assumptions
- Freddie Mac Primary Mortgage Market Survey (PMMS) — Weekly average as of September 24, 2026
- Zillow Home Value Index (ZHVI), typical home value, all homes — Default home prices; typical value as of August 31, 2026
- FHFA 2026 Conforming Loan Limit Values (one-unit) — 2026 one-unit limits, 56 states & territories
- HUD FHA Mortgage Limits lookup — FHA floor $541,287; high-cost counties follow the conforming limit — confirm on HUD
- Effective statewide property tax rate (Tax Foundation, 2026 projections) — Statewide effective rate; county rates vary
- Average annual homeowners premium, $300K dwelling / $1K deductible (industry survey averages) — Statewide average premium
- HUD Mortgagee Letter 2023-05 (annual MIP schedule)
- HUD — FHA single family housing policy handbook 4000.1
Estimates exclude lender origination fees, points and closing costs. See our methodology for formulas and limitations.