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Conventional loans in South Carolina

Quick answer

Conventional loans in South Carolina allow as little as 3% down (about $7,101 on a $236,700 home) with a 620+ credit score, up to the $832,750 baseline conforming limit.

By Purchase Mortgage Loan Editorial Team Checked against official sources per our editorial standardsLast updated

Conventional loan snapshot for South Carolina

ItemEstimate
Minimum down payment3%
Minimum credit score620
Typical SC home value$236,700
3.5% down on typical home$8,285
20% down on typical home$47,340
Avg. effective property tax0.51%/yr (~$100/mo)
Income for typical home (31% rule)$71,000

Rate assumption: 7.18% (Freddie Mac PMMS 30-year fixed average, week of November 5, 2026). Change it in the payment calculator.

Which South Carolina programs pair with Conventional loans?

  • Homebuyer Program: A fixed-rate first mortgage with down payment assistance for eligible buyers.
  • Palmetto Heroes: Lower-rate loans and assistance for teachers, first responders, nurses and veterans.

Details and current limits: SC Housing.

How does a conventional loan work?

Conventional loans are made by private lenders and usually sold to Fannie Mae or Freddie Mac. Because they follow those agencies' guidelines, they're called conforming loans. You can choose a fixed rate (15, 20 or 30 years) or an adjustable rate.

Your rate and mortgage insurance cost depend heavily on your credit score and down payment, so improving either before you apply can noticeably lower your payment.

Who qualifies for a conventional loan?

  • Credit score: generally 620 minimum.
  • Debt-to-income (DTI): up to 45%, and sometimes 50% with strong compensating factors.
  • Down payment: 3% (HomeReady, Home Possible, 97% LTV programs) to 5%+.
  • Steady, documented income — usually two years of history.
  • Property: primary homes, second homes and investment properties are all allowed (with higher down payments for non-primary homes).

Conventional loans in South Carolina cities

Conventional in CharlestonConventional in ColumbiaConventional in North CharlestonConventional in Mount PleasantConventional in Rock HillConventional in GreenvilleConventional in SummervilleConventional in Goose CreekConventional in SumterConventional in FlorenceConventional in GreerConventional in SpartanburgConventional in Hilton Head IslandConventional in Myrtle BeachConventional in AikenConventional in BlufftonConventional in AndersonConventional in Fort MillConventional in Carolina ForestConventional in ConwayConventional in MauldinConventional in SimpsonvilleConventional in North AugustaConventional in SocasteeConventional in LexingtonConventional in EasleyConventional in TaylorsConventional in GreenwoodConventional in HanahanConventional in St. AndrewsConventional in Wade HamptonConventional in North Myrtle BeachConventional in Five ForksConventional in ClemsonConventional in West ColumbiaConventional in BereaConventional in Red HillConventional in LadsonConventional in Seven OaksConventional in DentsvilleConventional in Lake WylieConventional in GanttConventional in Port RoyalConventional in Moncks CornerConventional in CayceConventional in BeaufortConventional in Tega CayConventional in OrangeburgConventional in GaffneyConventional in Boiling SpringsConventional in ParkerConventional in Oak GroveConventional in IrmoConventional in James IslandConventional in PowdersvilleConventional in Fountain InnConventional in Red BankConventional in Garden CityConventional in NewberryConventional in Forest Acres

Frequently asked questions

Yes. Conventional loans are available statewide in South Carolina through approved lenders, subject to county loan limits where they apply.

Often yes. SC Housing and local programs frequently pair assistance with FHA, conventional, VA or USDA first mortgages. Eligibility depends on income, price and program rules.

Answer a few questions on Purchase Mortgage Loan and we'll match you with lenders and loan officers in our network who serve South Carolina.

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Figures on this page are estimates for educational purposes only and are not a loan offer or commitment to lend. Rates, loan limits, fees and assistance programs change frequently and vary by lender, location and borrower profile. Confirm current terms with a licensed loan officer.