South Carolina State Housing Finance and Development Authority (SC Housing) Programs:
Updated March 2026SC Housing offers 30-year fixed-rate mortgages at competitive rates and down payment assistance for first-time homebuyers (no primary residence in past 3 years, waived in targeted areas) through approved lenders. No statewide sales price limit; income limits vary by county (higher in targeted areas). Mandatory homebuyer education required. Verify current rates, income/purchase limits, and targeted areas at schousing.sc.gov/homebuyers/programs-homebuyers or contact an SC Housing-approved lender. Programs remain active with steady funding in 2026.
South Carolina First-Time Homebuyer Mortgage Programs:
Eligibility: First-time homebuyers or those not owning in past 3 years (waived in targeted areas); low-to-moderate income.
Offerings: 30-year fixed-rate mortgages (FHA, VA, USDA, or conventional) with competitive below-market rates and low down payment options.
Requirements:
- Income ≤ county-specific limits (varies by household size; e.g., ~$98,000–$140,000+ in high-cost areas like Charleston/Greenville; lower in rural counties—check SC Housing income chart).
- Minimum credit score: 620+ (varies by loan type).
- Debt-to-income ratio typically ≤45% (up to 50% with compensating factors).
- Mandatory homebuyer education (free via SC Housing-approved counselors or online courses).
Down Payment Assistance (DPA) Options:
SC Housing DPA Grant: Up to 5% of purchase price (max ~$10,000–$15,000 depending on loan/program) as a grant (no repayment) or deferred second mortgage (0% interest; repayable on sale/refinance).
Forgivable DPA: Portions forgiven after occupancy period (e.g., 5–10 years in some cases).
Eligibility: Must pair with SC Housing first mortgage; income-based; minimum buyer contribution often required.
South Carolina Heroes Program:
Description: Enhanced DPA and rate benefits for teachers, firefighters, law enforcement, healthcare workers, military/veterans, and other public servants.
Eligibility: Qualify for standard SC Housing mortgage + proof of eligible profession; income limits apply.
Local Programs (Examples):
County/city programs offer additional deferred/forgivable assistance—funding limited; verify local housing authorities or SC Housing partners.
Charleston / Charleston County
Charleston Homebuyer Assistance Program: Up to $15,000+ deferred/forgivable for down payment/closing in city limits; income-based; counseling required—check charleston-sc.gov/housing.
Columbia / Richland County
Columbia Homeownership Assistance: Assistance through regional partners (often up to $10,000–$20,000 deferred) for low/moderate-income buyers; education required—see columbiasc.gov/housing.
Greenville / Greenville County
Greenville Homebuyer Programs: Local grants/loans (up to $10,000–$15,000 deferred) for eligible first-time buyers—check local housing authority.
Additional Information:
- USDA Loans: 0% down in eligible rural South Carolina areas; income limits apply.
- VA Loans: 0% down for eligible veterans/active-duty military.
- FHA Loans: 3.5% minimum down (580+ credit; 10% if below 580).
South Carolina programs emphasize flexible DPA and targeted support—always confirm with an SC Housing-approved lender or schousing.com. Seeking Agents® connects you with South Carolina agents who understand these programs and compete to offer reduced commissions or added services—free for buyers/sellers!
View First-Time Home Buyer Programs for: South Dakota
Frequently Asked Questions
What first-time home buyer programs are available in South Carolina?
South Carolina buyers may qualify for statewide buyer assistance, local housing programs, and federal mortgage options such as FHA, VA, and USDA loans. Eligibility and benefit levels vary by area and borrower profile.
What first-time home buyer programs are available in South Carolina?
South Carolina buyers may qualify for statewide buyer assistance, local housing programs, and federal mortgage options such as FHA, VA, and USDA loans. Eligibility and benefit levels vary by area and borrower profile.
Do you have to be a first-time buyer to qualify in South Carolina?
Not always. While many South Carolina programs are targeted toward first-time buyers, some may allow repeat buyers depending on the property location or other program factors.
Do you have to be a first-time buyer to qualify in South Carolina?
Not always. While many South Carolina programs are targeted toward first-time buyers, some may allow repeat buyers depending on the property location or other program factors.
How much down payment assistance can South Carolina buyers get?
South Carolina assistance may help with the down payment, closing costs, or both. The help may come through grants, second mortgages, or deferred-payment structures depending on the program.
How much down payment assistance can South Carolina buyers get?
South Carolina assistance may help with the down payment, closing costs, or both. The help may come through grants, second mortgages, or deferred-payment structures depending on the program.
Do South Carolina buyer programs require homebuyer education?
Many South Carolina first-time buyer programs require homebuyer education before closing. These classes help buyers understand affordability, mortgage financing, and long-term homeownership expenses.
Do South Carolina buyer programs require homebuyer education?
Many South Carolina first-time buyer programs require homebuyer education before closing. These classes help buyers understand affordability, mortgage financing, and long-term homeownership expenses.
Should I use a South Carolina agent who understands buyer assistance programs?
Yes. An experienced South Carolina agent can help you navigate offer strategy, property selection, and lender coordination in a way that supports your assistance program.
Should I use a South Carolina agent who understands buyer assistance programs?
Yes. An experienced South Carolina agent can help you navigate offer strategy, property selection, and lender coordination in a way that supports your assistance program.