First-Time Home Buyer South Carolina 2026
Your complete guide to buying your first home in South Carolina. 2+ down payment assistance programs, FHA loans from 5.95%, and step-by-step guidance.
What First-Time Buyer Programs Are Available in South Carolina?
South Carolina offers 2 major first-time home buyer assistance programs. These include SC Housing Palmetto Home Advantage, SC Housing DPA. Programs provide up to 4% of loan in down payment assistance through grants, forgivable loans, and below-market interest rates.
How Much Do I Need to Buy in South Carolina?
You can buy a home in South Carolina with as little as $0 down. VA and USDA loans require zero down payment. FHA loans need just 3.5% ($$9,975), and conventional loans start at 3% ($$8,550) on the median price of $285,000.
| Loan Type | Down Payment | $ Amount | Monthly P&I | Min Credit |
|---|---|---|---|---|
| VA Loan | 0% | $0 | $1,690 | 620 |
| USDA Loan | 0% | $0 | $1,736 | 640 |
| Conventional 3% | 3% | $8,550 | $1,684 | 620 |
| FHA Loan | 3.5% | $9,975 | $1,640 | 580 |
| Conventional 20% | 20% | $57,000 | $1,389 | 620 |
South Carolina Down Payment Assistance Programs
SC Housing Palmetto Home Advantage
Forgivable DPA up to 4%
SC Housing DPA
Fixed DPA amount for eligible buyers
5 Steps to Buy Your First Home in South Carolina
To buy your first home in South Carolina, start by checking your credit score, getting pre-approved, and researching DPA programs. The entire process typically takes 30-60 days from pre-approval to closing. Here's your step-by-step roadmap.
Check Your Credit & Finances
Review your credit score (aim for 620+), calculate your debt-to-income ratio, and save for closing costs. In South Carolina, you may need as little as $9,975 for an FHA down payment.
Get Pre-Approved
Compare rates from at least 3 lenders. Current South Carolina rates: 6.15% (30-year), 5.95% (FHA). Pre-approval shows sellers you're serious and locks your rate.
Apply for South Carolina DPA Programs
South Carolina has 2+ DPA programs. The SC Housing Palmetto Home Advantage offers up to 4% of loan. Apply early—funding can be limited.
House Hunt & Make an Offer
Popular cities in South Carolina: Charleston, Columbia, Greenville, Myrtle Beach, Rock Hill. Median price is $285,000 (+5.8% YoY). Work with a local real estate agent who knows the market.
Close on Your New Home
Closing costs in South Carolina typically run 2-5% of the purchase price ($8,550-$14,250). Some DPA programs also cover closing costs.
Start Your South Carolina Home Buying Journey
Get pre-approved in minutes and see what you qualify for.
Get Pre-Approved NowSouth Carolina First-Time Buyer FAQ
What first-time home buyer programs are available in South Carolina?
South Carolina offers 2 major programs: SC Housing Palmetto Home Advantage, SC Housing DPA. These provide grants, forgivable loans, and below-market rates for down payment and closing cost assistance.
How much down payment do I need in South Carolina?
As little as $0 (VA/USDA), $$8,550 (3% conventional), or $$9,975 (3.5% FHA) on the median price of $285,000.
What income do I need to buy in South Carolina?
Using the 28% rule, you'd need approximately $$70,289/year. The median household income in South Carolina is $56,227.
What is the FHA loan limit in South Carolina?
The 2026 FHA loan limit in South Carolina is $472,030. The conforming loan limit is $766,550.