Last updated: July 27, 2026 · Verified against SC Housing, HUD, FHA official data
South Carolina First-Time Home Buyer Programs 2026: SC Housing Grants & Loans
SC Housing provides up to $25,000 in down payment assistance with 0% interest, no monthly payments, and full forgiveness after 10 years. Combined with an FHA loan, you can buy a South Carolina home with virtually no money out of pocket.
Max DPA
$25,000
Min Credit
640
DPA Interest
0%
Forgiveness
10 Years
⚠️ ATTENTION: NOT ALL LENDERS ARE APPROVED FOR SC HOUSING
Don't Waste Time with the Wrong Lender — Most Are Not SC Housing-Approved
The SC Housing program requires you to work with a SC Housing-approved participating lender. Using a lender that isn't certified means your $25,000 DPA grant disappears. Match with a verified SC-approved lender right now:
| Lender | Best For | Min Credit | Est. Rate | DPA Eligible | Apply |
|---|---|---|---|---|---|
| BEST OVERALLRocket Mortgage | Fastest close (21 days) | 580 | 6.50% | ✓ Yes | Check Rates → |
| $0 FEESBetter.com | Lowest cost, $0 lender fees | 580 | 6.45% | ✓ Yes | Check Rates → |
| DPA SPECIALISTGuild Mortgage | DPA + rural SC programs | 580 | 6.55% | ✓ Yes | Check Rates → |
| COMPARE ALLLender Match (300+) | Compare all SC-approved lenders | 580 | From 6.25% | ✓ Yes | Check Rates → |
What Is the SC Housing Program?
SC Housing is a state agency providing affordable mortgage financing to first-time home buyers and low-to-moderate-income residents in South Carolina. SC Housing offers below-market interest rates, reduced mortgage insurance, and up to $25,000 in down payment assistance through a network of approved lenders statewide.
With South Carolina home prices averaging $375,000 statewide (and over $525,000 in Charleston), the $25,000 DPA grant is often the difference between renting and owning.
SC Housing works with FHA, VA, USDA, and conventional loan products. The DPA is a 0% interest second mortgage with no monthly payments — fully forgiven after 10 years. Want to see if you qualify? Check your eligibility now.
SC Housing Down Payment Assistance: Up to $25,000
How the DPA Works
- Amount: Up to $25,000 (5% of purchase price)
- Interest rate: 0% — no interest ever charged
- Monthly payments: $0 — no payments until you sell, refinance, or pay off
- Forgiveness schedule: 20% forgiven per year starting in Year 6. Fully forgiven after Year 10.
- Example: Buy a $400K home → receive $25,000 DPA. Stay 10 years → the entire $25,000 is forgiven.
DPA Forgiveness Timeline
| Year in Home | % Forgiven | Amount Forgiven (on $25K) | Remaining Balance |
|---|---|---|---|
| Years 1-5 | 0% | $0 | $25,000 |
| Year 6 | 20% | $5,000 | $20,000 |
| Year 7 | 40% | $10,000 | $15,000 |
| Year 8 | 60% | $15,000 | $10,000 |
| Year 9 | 80% | $20,000 | $5,000 |
| Year 10+ | 100% | $25,000 | $0 (FREE) |
SC Housing Income Limits by County (2026)
| County | 1-2 Person | 3+ Person | Median Home Price |
|---|---|---|---|
| Charleston | $118,300 | $138,000 | $525,000 |
| Greenville | $118,300 | $138,000 | $395,000 |
| Richland (Columbia) | $97,400 | $113,600 | $325,000 |
| Horry (Myrtle Beach) | $97,400 | $113,600 | $365,000 |
| Spartanburg | $97,400 | $113,600 | $275,000 |
| Lexington | $97,400 | $113,600 | $315,000 |
| Berkeley | $118,300 | $138,000 | $425,000 |
| Dorchester | $118,300 | $138,000 | $395,000 |
| Beaufort (Hilton Head) | $118,300 | $138,000 | $485,000 |
| Florence | $97,400 | $113,600 | $255,000 |
SC Housing Requirements: Do You Qualify?
✅ You Qualify If:
- • First-time home buyer (or haven't owned in 3 years)
- • Credit score 640+
- • DTI ratio below 45%
- • Income within county limits
- • Complete homebuyer education course
- • Purchase price within SC Housing limits ($500K most areas)
- • Primary residence only
❌ You Don't Qualify If:
- • Owned a home in the past 3 years (unless in targeted area)
- • Credit score below 640
- • DTI ratio above 45%
- • Income exceeds county limits
- • Buying a second home or investment property
- • Purchase price exceeds SC Housing limits
💡 Good news: The 3-year ownership rule is waived in targeted areas designated by SC Housing. Many neighborhoods in Columbia, North Charleston, and Florence qualify. Check if your target area qualifies →
How to Apply for SC Housing: Step-by-Step
Complete Homebuyer Education
Take a HUD-approved homebuyer education course online ($75-$125). SC Housing requires completion before applying.
Get Pre-Approved with an SC Housing Lender
You MUST use an SC Housing-approved lender. Using the wrong one means losing the $25K grant. Get matched here.
Get Pre-Approved Now →Find Your Home & Make an Offer
Work with a real estate agent to find a home within SC Housing purchase price limits.
Close & Receive Your DPA
At closing, the $25,000 DPA is wired as a second mortgage. You pay $0 down in many cases.
South Carolina Cities: What $25K DPA Buys You
| City | Median Home Price | DPA ($25K = % Down) | Est. Monthly Payment | Income Needed |
|---|---|---|---|---|
| Charleston | $525,000 | 4.8% | $3,080 | $105K+ |
| Columbia | $325,000 | 7.7% | $1,910 | $65K+ |
| Greenville | $395,000 | 6.3% | $2,320 | $79K+ |
| Myrtle Beach | $365,000 | 6.8% | $2,140 | $73K+ |
| Spartanburg | $275,000 | 9.1% | $1,610 | $55K+ |
| Mount Pleasant | $625,000 | 4.0% | $3,670 | $125K+ |
| Rock Hill | $345,000 | 7.2% | $2,020 | $69K+ |
| Summerville | $385,000 | 6.5% | $2,260 | $77K+ |
Ready to Claim Your $25,000 SC Housing Grant?
Get pre-approved with an SC Housing-approved lender in 3 minutes. Soft pull, no credit impact.
Frequently Asked Questions
What is the SC Housing first-time home buyer program?
SC Housing offers below-market mortgages and up to $25,000 DPA for first-time buyers in South Carolina. 0% interest, no monthly payments, fully forgiven after 10 years. Check if you qualify for the $25K grant →
What are the SC Housing income limits for 2026?
Most SC counties: $97,400 (1-2 person) and $113,600 (3+ person). Higher-cost areas like Charleston: $118,300 (1-2 person) and $138,000 (3+ person). Compare SC-approved lenders →
How much down payment assistance does SC Housing provide?
Up to $25,000 as a 0% interest deferred second mortgage. Forgiven at 20%/year starting Year 6, fully forgiven after 10 years. Get your DPA pre-approval →
What credit score do I need for SC Housing?
Minimum 640 for all loan types. 680+ may get better rates. Max DTI 45%. Check your rate with a 640+ score →
Can I use SC Housing with FHA, VA, or USDA loans?
Yes. SC Housing pairs with FHA, VA, USDA, and conventional. FHA + DPA is most popular — $25K covers full 3.5% down + closing costs. Get FHA pre-approval with SC Housing DPA →