Down payment assistance in South Carolina

0%, 3% or 4% of the total first mortgage loan amount (including UPMIP, funding or guarantee fee)

A 0% interest, no-payment forgivable second mortgage with a 10-year term, paired with a Palmetto Home Advantage 30-year fixed first mortgage (conventional, FHA, VA or USDA). It must be repaid in full if the home is sold, refinanced or stops being the primary residence before the end of the term; SC Housing does not subordinate. SC Housing states it is not a grant, and the first-mortgage rate differs by DPA option.

Who qualifies: No first-time homebuyer requirement. Borrower income limit $135,750 statewide (qualifying income, not household size-dependent). No sales price limit (insurer limits apply). Minimum credit score 640. Homebuyer education required. No minimum borrower contribution except for 2-unit properties (3%).

SC Housing · Agency website → · Checked 2026-09-30

Amount not published by SC Housing; ask an approved lender (offered as funding allows)

A 0% interest, no-payment second mortgage with a 15-year term, paired with SC Housing's bond-funded 30-year fixed first mortgage. It is forgiven only if the buyer occupies the home for the full 15 years. SC Housing says the assistance is offered based on availability.

Who qualifies: First-time homebuyers (no ownership in the past three years) in non-targeted counties; in targeted counties the buyer must not own a home at closing. County income and sales price limits (2026/2027 limits effective 6/1/2026). Minimum credit score 640. Homebuyer training required before loan approval.

South Carolina State Housing Finance and Development Authority (SC Housing) · Agency website → · Not yet confirmed by us: check the agency’s site for current amounts and rules.