South Carolina HELOC Rates and Rules 2026: Attorney Closings

HELOC rates in South Carolina right now

Most HELOCs have a variable rate based on the prime rate plus a margin set by the lender. Your margin depends mostly on your credit and how much of your home's value you borrow.

In 2025, the median HELOC in South Carolina opened at 7.50%, and half opened between 6.49% and 8.50%, across 12,161 lines reported under federal HMDA data. The national median was 7.50%. Leaving out lines with a 3 to 12 month introductory rate, the South Carolina median was 7.75%. Home equity loans in South Carolina, which usually have a fixed rate, closed at a median of 8.88%. HELOC rates in every state.

Prime rate, unchanged since September 17, 2026 (Federal Reserve): 7.00%
Median South Carolina HELOC rate at opening, 2025 (HMDA): 7.50%
Average 30-year fixed mortgage rate, week of October 29, 2026 (Freddie Mac): 7.24%

The Federal Reserve raised rates on September 16, 2026, which moved prime to 7.00%. Its October 27 and 28 meeting is more recent than the prime rate data shown here, which runs through October 27, 2026. Its next meeting is December 8 and 9. With 30-year mortgage rates above 7%, a HELOC lets you borrow against your equity without refinancing a lower rate you already have.

How much can you borrow in South Carolina?

South Carolina law doesn't set a home equity borrowing cap. Each lender sets its own limit on all the loans on your home combined, your current mortgage plus the new line.

With 43.0% of South Carolina owners holding no mortgage at all, many have most of their home value available to borrow against.

Home value ×80% −what you owe now =a likely maximum line

Example

Home value (the South Carolina median for owner-occupied homes): $299,500
80% of value (a common lender limit, not a South Carolina law): $239,600
Current mortgage balance: $160,000
Maximum line of credit: $79,600

Example only. Lenders set their own limits and the final amount after an appraisal, and many approve less than the maximum based on credit and income.

Run your own numbers in our home equity calculator

South Carolina home prices reached about 2.4 times their 2014 level by 2025

On the FHFA House Price Index, South Carolina home prices rose 137.6% from 2014 to 2025, with the biggest jumps in 2021 (+17.4%) and 2022 (+17.7%). Prices have risen every year in the series, though more slowly lately: up 3.5% in 2025 and 2.38% in the year to mid-2026, 29th of the 50 states and DC.

Source: FHFA House Price Index, South Carolina, purchase-only, through 2026 Q2.

Chart data as a table

South Carolina House Price Index, annual average (1991 = 100)
Year	Index (1991 = 100)
2014	186.12
2015	198.10
2016	209.06
2017	221.18
2018	236.22
2019	250.11
2020	269.88
2021	316.82
2022	372.91
2023	401.32
2024	427.30
2025	442.24

The South Carolina rules that affect a HELOC, in plain English

South Carolina has no special HELOC limits like a borrowing cap or a waiting period. These South Carolina laws and court rulings still shape your HELOC, summarized here in plain words.

At closing

A South Carolina attorney oversees it.: The South Carolina Supreme Court treats a mortgage loan closing, refinances included, as the practice of law, so a South Carolina-licensed attorney must perform or supervise it. The state bar has applied this to HELOC closings.
Use a licensed lender or broker.: Mortgage lenders need a license from the State Board of Financial Institutions, and mortgage brokers from the Department of Consumer Affairs. Banks and other depository institutions are exempt from lender licensing.
Protections on a loan against your home.: On a loan secured by your primary home, a lender can't finance credit insurance premiums into it or push you to default on an existing debt before a refinance. At application you get a notice naming the state agency that takes complaints.

Paying it off

No prepayment penalty.: For a home equity loan or line that sits behind your first mortgage, state law lets you pay the balance in full at any time without a penalty. A first-lien loan gets the same right when the total advanced is $150,000 or less.
The lien must be cleared within 3 months.: Once the debt is paid, send the lender a written request by certified mail (or another delivery with proof). It has 3 months to record the satisfaction. If it doesn't, it can owe you up to half the debt or $25,000, whichever is less, plus damages and costs.
Satisfaction fee capped at $25.: The lender can charge no more than $25 to process and record the satisfaction, and nothing if you tell it you will record the satisfaction yourself.

If you can't pay

Foreclosure goes through the courts.: A lender can't sell your home under the mortgage unless a court has first established the debt, or you agreed to the amount in writing after it came due.
Bidding stays open 30 days.: When the lender asks for a deficiency judgment, bidding stays open until the 30th day after the foreclosure sale, so others can top the winning bid.
You can ask for an appraisal.: Within 30 days after the sale you can petition the court for an appraisal. If the appraised value is high enough, the amount still owed is reduced or wiped out. This right cannot be waived on a home you live in or on a consumer credit loan.

South Carolina homeowners by the numbers

Median value of an owner-occupied South Carolina home: $299,500; U.S.: $360,600
South Carolina homeowners with no mortgage at all: 43.0%; U.S.: 40.3%
Owner-occupied homes in South Carolina: 1,607,358
Median yearly property tax paid in South Carolina: $1,337; U.S.: $3,211

Source: U.S. Census Bureau, American Community Survey 2024 1-year estimates.

One request, multiple South Carolina lenders

Tell us about your home once.
A short form about your home, what you owe and how much you'd like. About 2 minutes.
Lenders compete for it.
Participating lenders who lend in South Carolina see your request.
You compare and choose.
Pick the offer that fits, or none at all. It's free either way.

LenderMatch never pulls your credit. A lender you choose to work with may check it, with your permission.

See my South Carolina options

Frequently asked questions

Do I need an attorney to close a HELOC in South Carolina?

Yes. South Carolina courts require a South Carolina-licensed attorney to perform or supervise mortgage loan closings, refinances included, and the state bar has applied this to HELOC closings.

Can I pay off my South Carolina HELOC early without a penalty?

Yes. For a home equity loan or line behind your first mortgage, state law lets you pay the balance in full at any time without a penalty. A first-lien loan gets the same right when the total advanced is $150,000 or less.

How fast must the lender release the lien after I pay off?

Within 3 months of your written request sent by certified mail or another delivery with proof. A lender that misses it can owe up to half the debt or $25,000, whichever is less, plus damages.

Is foreclosure in South Carolina done through the courts?

Yes. A lender can't sell your home unless a court has established the debt or you agreed to the amount in writing after it came due. When a deficiency is sought, bidding stays open for 30 days after the sale.

Can a South Carolina lender come after me for what the sale did not cover?

It can ask the court for a deficiency judgment, but you can petition for an appraisal within 30 days of the sale. If the appraised value is high enough, the amount owed is reduced or wiped out.

How much have South Carolina home prices risen?

On the FHFA House Price Index, South Carolina prices rose 2.38% in the year to mid-2026 and 45.4% over 5 years. From 2014 to 2025 they rose 137.6%.

Does checking my options with LenderMatch affect my credit?

No. LenderMatch never pulls your credit. A lender you choose to work with may check it, with your permission.

HELOCs in South Carolina: how much you can borrow and the state rules that apply

See what South Carolina lenders could offer you