Mortgage on a $400K house in South Carolina
$2,501 a month with 20% down — $2,153 principal and interest plus $149 property tax and $200 insurance.
South Carolina's typical property tax is 0.45% of the home's value a year (U.S. average 0.9%), which adds $149 a month on a $400K home. The typical home in South Carolina is worth $304,319, so $400K is 31% above the typical price.
$400K home in South Carolina: payment by down payment
| Down payment | Cash down | Loan | Principal + interest | PMI / MIP | Tax + insurance | Total / month | Income needed |
|---|---|---|---|---|---|---|---|
| 20% down | $80,000 | $320,000 | $2,153 | $0 | $349 | $2,501 | $107,200 |
| 10% down | $40,000 | $360,000 | $2,422 | $150 | $349 | $2,921 | $125,200 |
| 5% down | $20,000 | $380,000 | $2,556 | $158 | $349 | $3,063 | $131,300 |
| 3.5% down (FHA) | $14,000 | $392,755 | $2,642 | $177 | $349 | $3,168 | $135,800 |
Assumes a 30-year fixed loan at 7.11%, property tax of 0.45% of the home value a year, homeowners insurance of 0.6% a year, PMI of 0.5% of the loan a year when the down payment is under 20%, and FHA mortgage insurance of 0.55% a year plus a 1.75% upfront premium added to the loan. Your rate, taxes and insurance will differ.
Where in South Carolina does $400K buy a typical home?
In these counties the typical home value is within 15% of $400K:
| County | Typical home | Tax rate | Total / month |
|---|---|---|---|
| Jasper County | $403,389 | 0.57% | $2,542 |
| Georgetown County | $387,236 | 0.41% | $2,490 |
| York County | $383,056 | 0.48% | $2,513 |
| Lancaster County | $378,849 | 0.5% | $2,520 |
| Berkeley County | $378,292 | 0.45% | $2,503 |
| Dorchester County | $348,212 | 0.56% | $2,540 |
43 of 46 South Carolina counties tracked by Zillow have a typical home value at or below $400K. See all South Carolina home prices.
Other prices in South Carolina
Frequently asked questions
What is the mortgage on a $400K house in South Carolina?
About $2,501 a month with 20% down at 7.11%: $2,153 principal and interest, $149 property tax and $200 insurance.
How much do I need to make to buy a $400K house in South Carolina?
About $107,200 a year, so that the payment stays under 28% of your gross income.
What is the property tax on a $400K house in South Carolina?
At South Carolina's typical effective rate of 0.45%, about $1,786 a year. Rates vary by county and city — see the county pages.