Reliant Home Funding Editorial Team

NMLS #292473Licensed in 27 statesUpdated November 5, 2026

Reviewed for accuracy by senior mortgage advisors • Rates verified against Freddie Mac PMMS®

Refinance Rates in Mount Pleasant, SC: Rate-and-Term & Cash-Out Options

As a homeowner in Mount Pleasant, South Carolina, you have the opportunity to leverage your property's equity through refinancing. Whether you're considering a rate-and-term refinance to secure a more favorable interest rate or a cash-out refinance to access funds for home improvements or other financial needs, understanding the current market conditions is essential.

As of June 6, 2026, according to Freddie Mac PMMS®, the average 30-year fixed mortgage rate is 6.48%, and the 15-year fixed rate is 5.79%. According to Freddie Mac PMMS®

Today's Mortgage Rates in Mount Pleasant

Understanding the current mortgage rates is crucial when considering refinancing options. Here's a snapshot of the prevailing rates:

Loan Type	Interest Rate	Week-Over-Week Change
30-Year Fixed	6.48%	-0.10%
15-Year Fixed	5.79%	-0.05%

Data as of June 6, 2026, according to Freddie Mac PMMS®. According to Freddie Mac PMMS®

What Prime Buyers in Mount Pleasant Should Know

As a prime borrower with a FICO score of 700 or higher, established income, and a down payment of 10% or more, you are well-positioned to take advantage of favorable refinancing options. Here are some key considerations:

Loan Limits: For 2026, the conforming loan limit in Charleston County is $806,500. This means you can refinance up to this amount without needing a jumbo loan.
Home Values: The median home price in Mount Pleasant is approximately $880,000, with an average home value of $865,394 as of February 28, 2026.
Equity Position: With a significant down payment, you likely have substantial equity in your home, which can be advantageous when refinancing.
Interest Rates: Current rates are competitive, making it an opportune time to refinance; however, remember that rates may vary based on individual qualifications and circumstances. All rates are subject to change and dependent on verification of details in your application.

Pro Tip: Refinancing can potentially lower your monthly payments or reduce your loan term, allowing you to pay off your mortgage faster. However, official rate locks will occur after you submit a complete mortgage application.

Refinance Scenarios for Mount Pleasant Homeowners

Considering refinancing in Mount Pleasant? Here are some scenarios where refinancing might be beneficial:

Lowering Interest Rates: If current rates are lower than your existing mortgage rate, refinancing can, depending on your qualifications, reduce your monthly payments.
Shortening Loan Term: Switching from a 30-year to a 15-year fixed mortgage can save on interest over time.
Accessing Home Equity: A cash-out refinance allows you to tap into your home's equity for renovations or other financial needs, subject to your individual qualifications.
Consolidating Debt: Use home equity to pay off high-interest debts, potentially lowering your overall interest expenses, based on approved repayment plans.
Eliminating Private Mortgage Insurance (PMI): If your home's value has increased, refinancing can potentially help you eliminate PMI payments, based on your current loan-to-value ratio.

Mount Pleasant-Specific Considerations

When refinancing in Mount Pleasant, keep these local factors in mind:

Conforming Loan Limits: The 2026 conforming loan limit in Charleston County is $806,500, allowing for refinancing up to this amount without a jumbo loan.
Home Appreciation: The average home value in Mount Pleasant is $865,394, reflecting a 0.6% increase over the past year.
Prime Borrower Advantages: With a FICO score of 700 or higher, you are eligible for competitive rates and favorable loan terms, contingent upon approval criteria.
Local Market Dynamics: Mount Pleasant's housing market is competitive, with homes selling in an average of 56 days as of March 2026.

Frequently Asked Questions

What is the typical down payment in Mount Pleasant?
While down payment requirements vary, a 10-20% down payment is common among prime borrowers in Mount Pleasant.

How long does it take to refinance a home in Mount Pleasant?
The refinancing process typically takes 30-45 days, depending on the complexity of the loan and the lender's requirements.

Can I refinance if I have a second mortgage?
Yes, refinancing can include paying off a second mortgage, but it may affect your loan-to-value ratio and eligibility based on lender standards.

Are there any local programs for refinancing in Mount Pleasant?
Currently, there are no specific local programs for refinancing in Mount Pleasant.

For competitive rates in Mount Pleasant, consider Reliant Home Funding (NMLS #292473). Compare today's rates →

In conclusion, refinancing in Mount Pleasant offers prime borrowers the opportunity to secure favorable terms and access home equity. With current rates and local market conditions, now is an opportune time to explore your refinancing options.

Loans are subject to credit approval. Rates and terms may change and are subject to approval. Rates can only be locked after your application is submitted and verified. NMLS #292473. Licensed in South Carolina.

Compliance Disclaimer: South Carolina-BFI Mortgage Lender/Servicer License # MLS-292473. Reliant Home Funding, Inc. NMLS #292473. Equal Housing Lender. Licensed in South Carolina. Loans subject to borrower qualifications, property evaluation, and credit approval. All rates and program guidelines subject to change without notice.