Rates for conventional and government mortgages are determined by the real-time trading of Mortgage-Backed Securities (MBS) throughout the day. Due to the influence of political and economic events, mortgage fees and rates are subject to fluctuations. When MBS pricing increases, mortgage rates and pricing decrease, and the reverse is true.
Various factors, some controllable and others not, contribute to these daily changes in rates. Among these factors are:
Global Economy: All interest rates, including those for mortgages, are influenced by the international economy.
Income: The ratio of your debt to your income can have an impact on your interest rate.
Property Location: Distinct state laws might lead to variations in lender costs.
Usage of Home: Is the property a primary or secondary residence, a vacation spot, or a rental property?
Type of Property: Whether the property is a single-family, multi-family, condo, mobile home, etc.
Loan-to-Value Ratio: A greater down payment and less borrowing can secure a more favorable rate.
Credit Score: A higher credit score generally leads to a better interest rate, while a lower score may result in a higher rate.
Features of the Loan: Factors such as term length (30, 20, or 15 years), type of documentation, adjustable rate, etc.
Points: Paying additional for “discount points” can reduce your rate.
Loan Amount: Extremely high or low loan amounts might lead to higher rates.
To obtain the promoted mortgage rate, you must have a favorable loan-to-value ratio, a robust income-to-debt ratio, and good credit score.
Falling short in any of these areas will subject you to risk-based pricing, with the rate you qualify for reflecting your level of risk.
For an accurate reflection of your rate based on your individual borrower profile, it’s best to get a personalized quick mortgage quote from our licensed mortgage advisors by clicking the button below.
Mortgage Rates as of June, 5 2025 | See Rate Assumptions | Rate Terms Explained
Rate Table Assumptions
Conventional Rates shown assume a purchase transaction.
Annual Percentage Rate (APR) calculations assume a purchase transaction of a single-family, detached, owner-occupied primary residence; a loan-to-value ratio of less than or equal to 96.5%; a minimum FICO score of 740, lock days at 15.
Term
Loan Amount
LTV
Points
30yr Fixed Conv.
$375,000
75.0%
1
15yr Fixed Conv.
$375,000
75.0%
1
30yr Fixed FHA
$289,500
96.5%
1
15yr Fixed FHA
$289,500
96.5%
1
30yr Fixed VA
$300,000
100.0%
1
15yr Fixed VA
$300,000
100.0%
1
30yr Fixed Jumbo
$900,000
75.0%
1
15yr Fixed Jumbo
$900,000
75.0%
1
30yr Fixed USDA
$275,000
100.0%
1
Rates may be higher for loan amounts under $375,000. Please call for details.
Rates are subject to change without notice.
Closing Costs assume that borrower will escrow monthly property tax and insurance payments.
Subject to underwriter approval; not all applicants will be approved.
Fees and charges apply.
Payments do not include taxes and insurance.
Rates based on information gathered from OptimalBlue.
Mortgage insurance is not included in the payment quoted. Mortgage insurance will be required for all FHA and USDA loans as well as conventional loans where the loan to value is greater than 80%.
Restrictions may apply. Ask for details.
Moreira Team | MortgageRight is an Equal Opportunity Lender
“Rate Over X%” Assumptions
Rates shown assume a refinance transaction.
Annual Percentage Rate (APR) calculations assume a purchase transaction of a single-family, detached, owner-occupied primary residence; a loan-to-value of 75%; a minimum FICO score of 740; a Loan Term of 360 months; and a loan amount of $375,000 for conforming loans.
Rates may be higher for loan amounts under $275,000. Please call for details.
Rates are subject to change without notice.
Closing Costs assume that borrower will escrow monthly property tax and insurance payments.
Subject to underwriter approval; not all applicants will be approved.
Fees and charges apply.
Payments do not include taxes and insurance.
Rates based on information gathered from OptimalBlue.
Mortgage insurance is not included in the payment quoted. Mortgage insurance will be required for all FHA and USDA loans as well as conventional loans where the loan to value is greater than 80%.
Restrictions may apply.
Moreira Team | MortgageRight is an Equal Opportunity Lender
Rate Terms Explained
What are Mortgage Points?
Mortgage points, often called discount points, are optional fees that a homebuyer pays at closing in exchange for a reduced interest rate on their mortgage. This process is commonly referred to as "buying down the rate" or a "rate buydown.
What are Lender Credits?
Lender credits are a feature in mortgage financing where the lender agrees to cover some your closing costs in exchange for you accepting a higher interest rate on your loan. This arrangement can make it easier for buyers to afford the upfront costs of purchasing a home.
What is APR?
APR, or annual percentage rate, is a measure of the total yearly cost of borrowing money through a mortgage. Unlike the regular interest rate, which is just the cost of borrowing the principal, the APR incorporates both the interest rate and many of the fees and costs associated with getting your loan.
Rate Feature
Lender Credit
vs
Discount Points
Upfront Costs
Lower (less paid at closing)
Higher (more paid at closing)
Interest Rate
Higher Rate
Lower
Long Term Cost
Higher (more interest paid)
Lower (less interest paid)
Best for...
Short Term Ownership or Cash Strapped
Long Term Ownership or Cash Rich
Mortgage Options in South Carolina
If you are looking to get a mortgage in South Carolina, you have several options. From conventional mortgages to government back home loans, we have options for everyone looking for a mortgage in South Carolina.
South Carolina Conventional Mortgages
To be eligible for a conventional mortgage in South Carolina, applicants must have at least a 620 credit score and a debt-to-income (DTI) ratio that doesn’t exceed 45%. A down payment below 20% will necessitate the payment of private mortgage insurance (PMI) premiums.
South Carolina FHA Loans
Should your credit score prevent you from securing a conventional mortgage, a Federal Housing Administration (FHA)-insured loan might be an option. With a credit score of 580 or higher and a minimum down payment of 3.5% of the purchase price, you could be eligible for a FHA loan in South Carolina.
South Carolina VA Loans
For veterans or active-duty military members, the Department of Veterans Affairs (VA) may back a mortgage. South Carolina VA loans come without the requirement for a down payment or mortgage insurance, though there is a funding fee, beginning at 2.15% for homebuyers.
South Carolina USDA Loans
These loans are backed by the United States Department of Agriculture (USDA) and are designed for rural and suburban homebuyers who meet specific income requirements. Generally requiring
