South Carolina State Housing Finance and Development Authority (SC Housing) Programs:
Updated May 25, 2026SC Housing offers long-term fixed mortgages through approved lenders and forgivable down payment assistance to qualifying buyers. Check program availability, income/purchase limits, and lender lists at SC Housing — Programs for Homebuyers or contact an SC Housing approved lender.
South Carolina First-Time Homebuyer Mortgage Programs:
Eligibility: First-time buyers (no ownership in the past 3 years) — exception/waivers apply in SC Housing targeted counties and for some veteran programs.
Offerings: 30-year fixed-rate options (FHA, VA, USDA, or conventional) through participating lenders; layered forgivable DPA often available when paired with SC Housing first mortgage.
Key program rules (high-level):
- Household income limits are county-specific. Example 2026 county limits (SC Housing 2026/2027 table): Charleston ~ $117,500 (1–2 persons) / $135,125 (3+); Greenville ~ $106,400 / $122,360; many counties use a common targeted schedule. See the official table for your county. Income & Home Price Limits (06/01/2026).
- Common purchase-price cap for SC Housing bond loans: many counties list a $450,000 sales price cap on bond-funded loans (check your county in the limits PDF above).
- Minimum credit score: commonly 640 (insurer and program dependent). See SC Housing program guides and your lender for exact thresholds.
- Maximum debt-to-income ratio for SC Housing bond loans: the lesser of 45% or AUS approval (insurer overlays apply).
- Mandatory homebuyer education required for DPA recipients; lenders generally coordinate enrollment with SC Housing-approved counselors.
Down Payment Assistance (DPA) Options:
SC Housing Forgivable DPA (Bond program): SC Housing offers a zero-percent second mortgage with a 15-year term that is forgiven if the borrower occupies the home for the full term (forgivable DPA used for down payment, closing costs, and prepaid items). Details: SC Housing Homebuyer Program and the Homeownership Handout/Program Manual.
Palmetto Home Advantage: Forgivable DPA tiers of 0%, 3%, or 4% of the loan amount (no sales price limits for Palmetto Home Advantage; statewide borrower income cap appears in the June 2026 limits). See Palmetto Home Advantage and the SC Housing income limits PDF for the current statewide cap.
Palmetto Heroes (public service workers):
Description: Special round for eligible public servants (teachers, nurses, law enforcement, firefighters, EMTs/paramedics, veterans/active duty/National Guard) that provides forgivable DPA alongside SC Housing mortgage financing.
- The 2026 Palmetto Heroes round offered $10,000 in forgivable down payment assistance; the 2026 campaign closed April 13, 2026. Watch SC Housing for the next round. Palmetto Heroes — SC Housing (press/guide).
- Funds are first-come, first-served; buyers generally must have an executed sales contract to reserve assistance.
Local Programs (examples and official links):
Many counties and cities add local DPA or forgivable-loan programs that can stack with SC Housing assistance. Local programs change funding and rules often — contact the local housing department or program administrator directly.
Charleston / Charleston County
City and county homeownership initiatives exist that can provide forgivable down payment assistance in city limits or targeted neighborhoods. Published materials and local consolidated-plan documents list assistance tiers commonly up to about $20,000, but exact funding and current availability should be checked with Charleston's Housing & Community Development office (contact city officials for the latest). (No single up-to-date landing page was found; verify with the City of Charleston.)
Columbia / Richland County
Richland County Homeownership Assistance (official): Deferred/forgivable loan up to $24,500 to assist with down payment/closing costs for eligible first-time buyers in unincorporated Richland County; forgivable over a 5-year term when occupancy and program conditions are met. Workshops and enrollment are required. See the county page for details and application steps: Richland County Homeownership Assistance.
Greenville / Greenville County
Community-based administrators (for example, CommunityWorks Carolina) run county and employer-assisted programs in the Upstate. Typical assistance levels for Greenville County programs have been up to $20,000 (forgivable tiers vary by AMI). CommunityWorks administers many employer and county programs; check current availability and fund status at CommunityWorks Carolina — Down Payment Assistance.
Additional Information:
- USDA Loans: 0% down for eligible rural properties; income and location limits apply — verify via USDA Rural Development or an approved lender.
- VA Loans: Eligible veterans/active-duty borrowers may qualify for no-down-payment VA loans.
- FHA Loans: FHA’s typical requirement is 3.5% minimum down for borrowers with credit score 580 or higher (higher down payment may be required below that). Confirm with your lender and HUD/FHA guidance.
Always confirm program availability, income/purchase limits, and current funding windows with the official program pages or an SC Housing-approved lender: schousing.sc.gov.
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!
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.
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.
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.