15-Year Fixed Mortgage Rates in ZIP Code 29439

Today's leading benchmark rate for 15-year fixed rates in 29439, Folly Beach, SC is 6.773% (with an estimated monthly payment of $5,414). Calibrated directly to 29439, Folly Beach, SC's local housing market, Safe Rate shows up-to-the-minute interest rates and points across Conventional, FHA, VA, and Jumbo loan programs daily.

Mortgage rates for 15-year fixed rates have shown typical daily fluctuations driven by inflation data and bond yields. Over the past 90 days, rates for 15-year fixed rates in 29439, Folly Beach, SC have hovered between a low of 6.392% and a high of 6.850%. You can track these daily movements by using the 90-day rate history and trajectory chart featured on this page.

Choosing between FHA and Conventional depends on your down payment budget and credit score. For a typical home priced at $1,331,812 in 29439, Folly Beach, SC, a standard 20%-down Conventional loan requires an upfront cash down payment of $266,362 but keeps your monthly payment lower at $5,414/mo (at 6.773% interest) with no monthly PMI. In comparison, an FHA loan requires only $46,613 (3.5% down) but has an estimated payment of $4,179/mo (at 5.932% interest) due to mandatory FHA mortgage insurance (MIP). Local Nuance: The typical local FHA loan amount of $1,285,199 exceeds the local HUD FHA limit of $1,209,750 for a 1-unit property, meaning entry-level buyers here will likely require conventional financing or a larger down payment to comply with government limits.

The 2025 conforming conventional loan limit for a 1-unit property in 29439 is $806,501. With a typical local home value of $1,331,812 in Folly Beach, a standard 20%-down mortgage requires a loan size of $1,065,450. Since this exceeds the conforming limit of $806,501, most typical transactions in Folly Beach require a non-conforming Jumbo loan, which demands stricter underwriting guidelines, higher credit scores, and larger asset reserves.

The median home value in 29439, Folly Beach, SC is estimated at $1,331,812. Buying a typical home here with a standard 20% down payment ($266,362) translates to an estimated starting monthly mortgage payment of $5,414 (principal and interest). Compared to the local area median household income of $134,645 ($11,220/mo), this basic housing payment represents approximately 48.3% of gross monthly household income. Because this housing cost exceeds the standard 36% lender DTI guideline, buyers in this high-value area may need larger down payments, lower debt balances, or co-borrower income to qualify.