Beaufort County named among best places to get mortgage in SC
SmartAsset, a New York financial technology company, recently released its second annual study on the “Best Places to Get a Mortgage.”
According to a release, the study determines the top markets by comparing the likelihood of mortgage approval by county, in addition to mortgage rates, average five-year borrowing costs, and property taxes.
Beaufort County cracked the list at number 4 in South Carolina, up from its rank of 17 in 2015.
Rank | County | Loan funding rate | 5-year borrowing costs | Property Tax | Annual Mortgage Payment | Best Mortgage Markets Index |
1 | Horry | 61.44% | $75,004 | $5,008 | $14,344 | 73.48 |
2 | Oconee | 60.45% | $75,145 | $6,331 | $14,372 | 68.85 |
3 | McCormick | 51.39% | $74,907 | $7,178 | $14,325 | 68.43 |
4 | Beaufort | 60.84% | $75,210 | $6,398 | $14,385 | 67.59 |
5 | Edgefield | 52.88% | $74,993 | $6,859 | $14,342 | 67.58 |
6 | Richland | 58.28% | $75,037 | $10,320 | $14,351 | 67.21 |
7 | Lexington | 60.70% | $75,210 | $7,038 | $14,385 | 67.05 |
8 | Pickens | 61.32% | $75,264 | $6,268 | $14,396 | 66.74 |
9 | Sumter | 54.42% | $75,058 | $7,893 | $14,355 | 66.27 |
10 | Lancaster | 62.78 | $75,351 | $6,616 | $14,413 | 65.39 |
This story was originally published March 4, 2016 at 10:55 AM with the headline "Beaufort County named among best places to get mortgage in SC."