South Carolina Down Payment Assistance
South Carolina Down Payment Assistance Programs
A guide to current down payment assistance options in South Carolina, including the state Housing Finance Agency, well-known city and county programs, and live DPA mortgage pricing for South Carolina homebuyers.
South Carolina Housing Finance Agency
South Carolina State Housing Finance and Development Authority (SC Housing)
schousing.sc.gov803-896-2211
SC Housing administers the primary DPA programs for South Carolina. Program details below are current as of October 17, 2026 - confirm current terms directly with SC Housing before applying.
Statewide DPA Programs in South Carolina
Palmetto Home Advantage
SC Housing
Fixed-rate first mortgage with forgivable down payment assistance of 0%, 3%, or 4% of the loan amount (option selected at origination). DPA is a 0% interest second lien with a 10-year term; forgiven at the end of the term with no monthly payment.
Paired with: Conventional, FHA, VA, USDA
- First-time homebuyer: Not required
- Primary residence only
- Minimum FICO: 640
- Income: Income limit of $135,750 statewide, not based on household size.
- Homebuyer education required
Available for first-time, move-up, and repeat buyers statewide across all 46 counties. No sales price limits; follows applicable insurer/guarantor guidelines.
Source: schousing.sc.gov
Palmetto Heroes
SC Housing
$10,000 in forgivable down payment assistance for eligible public-service borrowers.
Paired with: Conventional, FHA, VA, USDA
- First-time homebuyer: Required
- Primary residence only
- Minimum FICO: 640
- Income: County and family-size based limits per SC Housing schedule.
- Homebuyer education required
Eligible professions include teachers, nurses, law enforcement and correctional officers, firefighters, paramedics, EMTs, veterans, active-duty military, and National Guard members. Offered in annual funding rounds; the 2026 round opened March 16 and closed April 13, 2026 after funds ran out. Check SC Housing for the next round.
Source: schousing.sc.gov
SC Housing Homebuyer Program
SC Housing
Fixed-rate 30-year first mortgage with forgivable down payment assistance (based on availability) for down payment, closing costs, and prepaids. DPA is a 0% interest second lien with no monthly payments, forgiven after 15 years of occupancy.
Paired with: Conventional, FHA, VA, USDA
- First-time homebuyer: Required
- Primary residence only
- Minimum FICO: 640
- Income: County-based household income and sales price limits per SC Housing schedule.
- Homebuyer education required
First-time homebuyer (no ownership in past 3 years) in non-targeted counties; in targeted counties the buyer must not own a home at closing. Homebuyer training required before loan approval for DPA recipients.
Source: schousing.sc.gov
South Carolina Notes for Homebuyers
- South Carolina is an attorney-closing state; expect attorney fees at closing.
- Income and home price limits are updated periodically; verify current values at schousing.sc.gov.
2026 Loan Limits in South Carolina
Conforming (Conventional)
$832,750 baseline
FHA
$541,287
Standard FHA limit, applies to most South Carolina counties.
Live DPA Pricing for South Carolina
Pricing below is sourced live from hundreds of wholesale lenders for a South Carolina scenario. Edit the inputs to match your situation.
FHA Down Payment Assistance
Up to 5% assistance; repayable second at first rate + 2% over 10 years
▸Program details
- ✓Minimum credit score: 580
- ✓Non-traditional credit also possible
- ✓Assistance up to 2.5%, 3.5%, or 5% of the lesser of purchase price or appraised value
- ✓Assistance can be used for down payment, closing costs, or both
- ✓Second lien: 10-year fixed, repayable
- ✓Second lien rate is 2% higher than the first mortgage rate
- ✓No first-time homebuyer requirement
- ✓No income cap
- ✓Purchase of primary residence only
- ✓Eligible properties: 1-unit residences, PUD, 2-4 units, FHA-approved condos, manufactured (single/double-wide)
- ✓DTI per AUS and FHA manual underwriting guidelines
- ✓First lien: FHA 30-year fixed
Assistance amount
Compare DPA options for South Carolina with live pricing
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