2025 HUD guidelines · Based on local median home value · Pre-rendered committed figures
FHA MIP does not cancel like conventional PMI. For FHA loans with less than 10% down in Beaufort County, the annual MIP of approximately $253/month persists for the life of the loan. Borrowers must refinance into a conventional loan once they reach 20% equity — or put 10%+ down at origination — to eliminate MIP.
FHA eligible in Beaufort County · Estimated loan of $552,410 is within the local FHA limit of $638,250.
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Loan balance and total interest paid over 30 years.
An FHA buyer in Beaufort County, SC borrowing $552,410 (with 3.5% down on a median $572,446 home) pays an upfront mortgage insurance premium (MIP) of $9,667 — equal to 1.75% of the base loan amount. This upfront MIP is typically financed into the loan balance rather than paid at closing, increasing the total loan amount to approximately $562,077.
For a typical FHA loan in Beaufort County, SC with a base loan amount of $552,410, the annual MIP rate is 0.55% — adding approximately $253/month to the required payment. This monthly MIP is separate from principal, interest, property taxes, and homeowners insurance.
Unlike conventional PMI — which automatically cancels at 80% LTV under the Homeowners Protection Act — FHA annual MIP on loans with less than 10% down does not fall off. For FHA buyers in Beaufort County, SC putting 3.5% down, this means ongoing monthly MIP payments of approximately $253/month for the life of the loan. To eliminate MIP, borrowers must refinance into a conventional loan once they reach 20% equity, or put 10%+ down at origination (MIP then cancels after 11 years).
The 2025 FHA loan limit for Beaufort County, SC is $638,250 for a 1-unit property. A typical buyer purchasing the median-priced home here (approximately $572,446) with 3.5% down would have a base loan amount of approximately $552,410, which falls within the local FHA limit — making FHA financing an accessible option for eligible buyers.
Beyond principal and interest, FHA buyers in Beaufort County, SC with a median $572,446 home can expect approximately $2,244/yr in property taxes, $8,524/yr for homeowners insurance, $2,400/yr in energy utilities, and $253/mo in FHA mortgage insurance (MIP). Together, these non-P&I costs add approximately $1,350/month to the required payment in Beaufort County, SC.