Tomo Mortgage

See which credit unions and banks have low mortgage rates in SC

A good rate for a primary, single-family home in for , and credit score is:

6.01% - 6.16%

Histogram showing 3 data points from 6.01% to 6.57%. Use Tab to navigate between segments, and Enter to select a bar.

6.01%6.15%6.29%6.43%6.57%

TrueRatefound 78 lenders for you

Rates updated Jan 8, 2026

Insights

Negotiate everything—rates, fees, and terms are not set in stone.

Portrait of George Robinson, TrueRate Data ScientistGeorge RobinsonTrueRate Data Scientist

Lenders with low rates in SC

TrueRate analyzed the rates lenders actually gave to buyers for the last three years and found only 6 lenders likely to get you a good deal.

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Insights

Negotiate everything—rates, fees, and terms are not set in stone.

Portrait of George Robinson, TrueRate Data ScientistGeorge RobinsonTrueRate Data Scientist

Lenders in SC likely to have high rates

We don’t accept advertising, so you can get the real lender story. TrueRate looked at 78 lenders and found that these 4 are likely to offer you a high rate.

LenderLender fees
Customer reviews
Mixed reviewsMixed reviews
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Insights

Whether a lender has high margins or is simply inefficient and passing their costs on to you, the result is the same—you’ll likely end up paying more for your home. Our data shows that if you choose these lenders you will likely regret it.

Portrait of George Robinson, TrueRate Data ScientistGeorge RobinsonTrueRate Data Scientist

Lenders with average rates in SC

You deserve better than what these 68 lenders historically provide.

Don’t let lenders pull a fast one on you

Learn how really low rates often come with hidden fees. Drag the slider to see how rates and fees are connected.

6.01% - 6.16%

Insights

TrueRate compares lenders based on their 0 points or par rate. You should use this rate when comparing lenders.
Portrait of James McTernan, Tomo Mortgage Loan AdvisorInsights by James McTernanTomo Mortgage Loan Advisor - NMLS #1112719

TrueRate report

Buying a home shouldn’t feel impossible—see what’s driving buyer stress in 2025.

What is TrueRate by Tomo Mortgage?

TrueRate is a tool for homebuyers, created by Tomo Mortgage. It uses AI and analytical models to show you what a fair mortgage rate really looks like—your “true rate”—based on your unique financial situation and real market conditions. It strips out all the bait-and-switch pricing you see all over the internet, such as rates advertised with big point fees hiding in the fine print.

Instead of giving you a one-size-fits-all estimate, TrueRate calculates what rate you should be looking for that day, using the same kinds of data that lenders themselves rely on to provide their own rate information. We’re just making it all public for the first time. You’ll be able to see whether an interest rate offered by a bank, credit union, or mortgage company is low, average, or too high—before you agree to anything.

We believe in transparency. Here’s how we crunched the numbers.

See our TrueRate methodology

How do mortgage rates at credit unions and banks compare?

By Will Begeny, TrueRate Editor, and George Robinson, Chief Data Scientist

When it comes to getting a mortgage, many homebuyers start by comparing offers—typically, based on the interest rate—from both banks and credit unions. But advertised rates don’t always tell the full story.

To help figure out which mortgage companies offer low interest rates, we created a model: TrueRate. The model is based on roughly one million real home loans (and we’re adding more daily), from over 1,000 regional and national banks, local credit unions, and independent and online mortgage companies. With all this data, we’re able to see which lender offers low rates most often, and how that compares to the industry average.

TrueRate shows that a number of credit unions offer lower interest rates, on average, compared to large national lenders and big banks. But this isn’t every credit union. And the analysis is limited to 30-year fixed-rate primary mortgages (i.e., the most common loan type) at this time.

Here are some of the key findings in our analysis:

  • Some local credit unions offer mortgage interest rates in the top 30th percentile (i.e., rates lower than 70% of all other lenders) more often than large national banks.
  • Larger lenders, overall, tend to have higher mortgage origination fees (i.e., fees added to the cost of the loan), than smaller lenders, as our analysis of lender fees reveals.
  • Independent mortgage companies can fall in both extremes—exceptionally high and exceptionally low rates and fees. Tomo Mortgage is one of the few independent mortgage companies that offers similar low rate ranges as local credit unions, but also has the advantage of $0 lender fees.

Unfortunately, there’s no single definitive answer to “who has the best rates,” in every situation for everyone, or even on any given day. Interest rates often vary widely by lender, loan type, and your personal financial profile. Not every credit union is set up to offer the most competitive rates all the time. It’s important to reach out to multiple lenders—whether that’s a big bank, a credit union, or a mortgage company like Tomo Mortgage—to see who has the lowest rates and fees for you.

Frequently asked questions

Here’s a quick look at how average mortgage rates have moved over the past several years, across all mortgage lenders (banks, credit unions, and independent mortgage companies).

Year / Avg 30-year fixed rate

YearAvg 30-year fixed rateWhat drove rates?
2018 / ~4.54%2018~4.54%Fed rate hikes increased borrowing costs across banks and credit unions.
2019 / ~3.94%2019~3.94%Economic slowdown led to Fed rate cuts; credit unions began lowering rates.
2020 / ~3.11%2020~3.11%Pandemic uncertainty triggered record-low mortgage rates across the board.
2021 / ~2.96%2021~2.96%Credit unions and banks hit historic lows as demand soared.
2022 / ~5.34%2022~5.34%Inflation surged; the Fed responded with aggressive hikes, pushing bank rates higher.
2023 / ~6.80%2023~6.80%Volatility and inflation kept rates elevated; credit unions offered some relief.
2024 / ~6.72%2024~6.72%Rates stabilized slightly; smaller lenders and credit unions offered competitive pricing.
2025 / ~6.35%2025~6.35%So far this year, mortgage rates at banks and credit unions range from 6.35% to 7.04%.

To more accurately compare rates apples-to-apples, Tomo Mortgage created TrueRate to model the “true rate” different banks and credit unions, as well as other mortgage companies, are charging real home buyers. It uses actual rates from real borrowers to give you a transparent view.

We recommend talking to multiple lenders listed on TrueRate, and requesting an official loan estimate from each of them so that you have all the information you need to make an informed decision.

Here’s what to watch for when shopping rates:

Note that many homebuyers start by looking at online quotes and offers from banks and credit unions, such as the information listed on their website. While this can be a helpful way to explore some of your options, these advertised rates don’t always tell the full story.

Now, whether it’s a credit union or a bank, what you’re quoted depends on:

  • Your credit score
  • Your loan-to-value ratio
  • Discount points or fees (which many lenders bake into low “advertised” rates)
  • The lender’s business model

Note that some banks rely on “bait and switch” tactics when advertising rates online. They might show you interest rates online that only apply to an ideal buyer with perfect credit, for example. Or, more often, they only show rates with really high upfront fees. Looking at the APR, and making sure that the APR and interest rate are the same (or nearly the same), is a good way to assess the real price of the mortgage.

South Carolina is shaping up to be a fantastic place to buy a home right now

With interest rates continuing to improve throughout 2024 and expected to ease even further into 2025, the outlook is promising for homebuyers. Lower rates allow for more flexibility in your budget, making it easier to find the right home in the Palmetto State.

South Carolina offers a diverse range of real estate options. Charleston, known for its Southern charm, coastal views, and thriving food scene, has seen rising home prices in recent years. However, with mortgage rates trending downward, now may be a good time to consider making a move—especially if coastal living is high on your wishlist.

If you’re looking for more budget-friendly options, cities like Columbia and Greenville offer strong communities, growing economies, and more attainable home prices. For those who prefer a quieter pace, South Carolina also boasts beautiful rural areas and small towns where you can find larger properties and excellent value.

Whether you’re drawn to the coastline, city life, or a peaceful countryside setting, South Carolina has something for everyone. With mortgage rates becoming more favorable and a wide range of housing options across the state, now is a smart time to begin your home search in this vibrant and scenic part of the country.