South Carolina FHA loan limits are set above the nationwide floor amount in Charleston, Hilton Head, Greenville, Spartanburg and surrounding areas. In the formula, you'd use 350,000 as the principal, 360 for the number of months, and 0.075. If you’re refinancing and taking cash out from equity, the loan limit will be limited to 85% of the appraised home value. Let's say you're borrowing 350,000 to buy a home, and you take out a 30-year mortgage at 7.5 interest. Refinance Loans – The refinance loan-to-value limit in South Carolina is 97.75% of the lower of the appraised property value, or the mortgage amount plus closing costs. USDA loans differ from other mortgage options, so this calculator is designed to account for the unique benefits and costs of using a USDA home loan.
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