Mortgage in Cayce, SC (2026)

Find the best mortgage rates in Cayce, SC. The Cayce housing market offers opportunities for first-time buyers and seasoned investors alike, with mortgage rates remaining competitive in 2026.

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Cayce Overview

Cayce is a key market in South Carolina with a population of 13,637 and a median household income of $48,000. The median home price stands at $240,000, shaping the local borrowing landscape.

Rates & Terms

Borrowers in Cayce with credit scores above 760 and 20% down payments qualify for the best conventional mortgage rates.

Adjustable-rate mortgages in SC start 0.5% to 1% lower than fixed rates but carry reset risk after the initial fixed period.

Requirements in Cayce

Jumbo loans in Cayce for amounts exceeding conforming limits require credit scores of 700+, larger down payments, and significant cash reserves.

All mortgage applicants in Cayce must provide W-2s, tax returns, bank statements, and authorization for a credit check.

South Carolina Regulations

South Carolina regulates payday lending with specific amount and fee caps.

  • Usury Limit: 8.75% (non-licensed)
  • Payday Lending: Legal, max $550, 15% fee

Local Market Insights

Property taxes in SC should be factored into your total monthly housing budget alongside principal, interest, and insurance.

With a median home price of $240,000, Cayce offers a dynamic housing market for prospective buyers.

Borrowing Tips for Cayce

  • Get pre-approved, not just pre-qualified; a pre-approval letter strengthens your offer in competitive Cayce markets.
  • Improve your credit score by 20+ points before applying; even small improvements can lower your rate significantly.
  • Lock your mortgage rate once you have a signed purchase agreement; rates can change daily and cost you thousands.

Frequently Asked Questions

Can I get a mortgage with student loan debt in Cayce?

Yes, lenders factor your total debt-to-income ratio. Income-driven repayment plans on federal student loans can help keep your DTI within qualifying limits.

How much down payment do I need for a house in Cayce?

Conventional loans require 3-20% down, FHA loans require 3.5%, and VA loans require 0% down. The median down payment in Cayce is approximately 10-15% of the purchase price.

What is the current average mortgage rate in SC?

As of 2026, average 30-year fixed mortgage rates in SC range from 6.5% to 7.5%, while 15-year fixed rates range from 5.75% to 6.75%. Rates vary by lender and borrower profile.

How long does mortgage approval take in Cayce?

Most lenders can issue a conditional approval within 3-5 business days. Full loan approval and clear-to-close typically take 30-45 days from application.

Important Disclaimer

LoanMatchers is not a lender and does not make credit decisions. We connect consumers with licensed lending partners. All loan terms, rates, and fees are determined by the lender and are subject to credit approval. APRs range from 5.99% to 35.99%. Not all applicants will qualify for the lowest rates. This website provides general information and does not constitute financial, legal, or tax advice. Consult a qualified professional before making financial decisions. Rates and terms are accurate as of 2026 but subject to change without notice.