Mortgage Rates in Summerville, South Carolina — March 2026
Updated March 2026 | Based on Summerville market data and regional lending conditions
Summerville is a growing city in South Carolina with a population of 53,643. The current 30-year fixed mortgage rate in Summerville is 6.71%, which is 0.06% above the national average. With a median home price of $315,000 and a 20% down payment of $63,000, homebuyers can expect a monthly principal and interest payment of approximately $1,628.
Current Mortgage Rates in Summerville, SC
Below are the current average mortgage rates available in the Summerville area as of March 2026. Rates vary by lender, credit score, and loan-to-value ratio. Use our free calculator above to see your personalized estimate.
| Loan Type | Rate | National Avg | Difference |
|---|---|---|---|
| 30-Year Fixed | 6.71% | 6.65% | +0.06% |
| 15-Year Fixed | 5.95% | 5.89% | +0.06% |
| 5/1 ARM | 6.21% | 6.15% | +0.06% |
| FHA | 6.31% | 6.25% | +0.06% |
| VA | 6.11% | 6.05% | +0.06% |
| Jumbo | 6.91% | 6.85% | +0.06% |
Summerville Housing Market Overview
The Summerville housing market reflects moderate demand with prices near the national average. The median household income in Summerville is $62,250, and the cost of living index is 92.5 (national average = 100). Based on the 28% affordability rule, you would need an income of approximately $76,200 to comfortably afford the median-priced home in Summerville, which exceeds the current median household income.
Monthly Payment Breakdown for Summerville
Based on the median home price of $315,000 with 20% down ($63,000), here is what you can expect to pay monthly in Summerville:
15-Year vs. 30-Year Mortgage in Summerville
Choosing a 15-year mortgage in Summerville at 5.95% instead of a 30-year at 6.71% would save you $204,480 in total interest over the life of the loan. However, your monthly payment would be $2,120 instead of $1,628 — an increase of $492 per month.
Calculate Your Summerville Mortgage Payment
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Open Free CalculatorFrequently Asked Questions About Mortgages in Summerville
What are the current mortgage rates in Summerville, SC?
As of March 2026, the average 30-year fixed mortgage rate in Summerville, South Carolina is 6.71%, while the 15-year fixed rate is 5.95%. FHA loans average 6.31% and VA loans 6.11%. These rates are 0.06% above the national average of 6.65%.
How much is a monthly mortgage payment in Summerville?
Based on the median home price of $315,000 with 20% down, the estimated monthly mortgage payment in Summerville is $1,628 for principal and interest. Including property taxes of $150/month, the total monthly housing cost is approximately $1,778.
What income do I need to buy a home in Summerville?
Using the 28% rule, you would need an annual income of approximately $76,200 to afford the median-priced home in Summerville at $315,000. The median household income in Summerville is $62,250. This means most households would need to either earn above the median or consider homes below $315,000.
Is Summerville a good place to buy a home in 2026?
Summerville offers a below-average cost of living with a cost of living index of 92.5 (national average = 100). The property tax rate in South Carolina is 0.57%, which is below the national average. Summerville has a population of 53,643 and offers a very affordable lifestyle.
Mortgage Rates in Other South Carolina Cities
Related Tools & Guides
Last updated: March 2026. Rates are approximate averages based on regional lending data for the Summerville, South Carolina area. Individual rates may vary by lender, credit score, loan amount, and other factors. Use our free calculator for a personalized estimate.