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First-Time Buyer loans in South Carolina

Quick answer

First-time buyers in South Carolina can use FHA (3.5% down), conventional 97 (3% down), VA or USDA loans, plus programs from SC Housing. On a $236,700 home, 3% down is about $7,101.

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

First-Time Buyer loan snapshot for South Carolina

ItemEstimate
Minimum down payment0%–3.5%
Minimum credit score580–620
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 First-Time Buyer 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.

Compare first-time buyer loan options

LoanMin. downMin. creditMortgage insurance
FHA3.5%5801.75% upfront + annual MIP
Conventional 97 / HomeReady / Home Possible3%620PMI, removable
VA0%Lender-set (~580–620)None (funding fee)
USDA0%~6401% upfront + 0.35% annual

Who counts as a first-time home buyer?

Under HUD and most agency definitions, you're a first-time buyer if you haven't owned a principal residence in the last three years. Single parents and displaced homemakers who only owned with a former spouse may also qualify.

First-Time Buyer loans in South Carolina cities

First-Time Buyer in CharlestonFirst-Time Buyer in ColumbiaFirst-Time Buyer in North CharlestonFirst-Time Buyer in Mount PleasantFirst-Time Buyer in Rock HillFirst-Time Buyer in GreenvilleFirst-Time Buyer in SummervilleFirst-Time Buyer in Goose CreekFirst-Time Buyer in SumterFirst-Time Buyer in FlorenceFirst-Time Buyer in GreerFirst-Time Buyer in SpartanburgFirst-Time Buyer in Hilton Head IslandFirst-Time Buyer in Myrtle BeachFirst-Time Buyer in AikenFirst-Time Buyer in BlufftonFirst-Time Buyer in AndersonFirst-Time Buyer in Fort MillFirst-Time Buyer in Carolina ForestFirst-Time Buyer in ConwayFirst-Time Buyer in MauldinFirst-Time Buyer in SimpsonvilleFirst-Time Buyer in North AugustaFirst-Time Buyer in SocasteeFirst-Time Buyer in LexingtonFirst-Time Buyer in EasleyFirst-Time Buyer in TaylorsFirst-Time Buyer in GreenwoodFirst-Time Buyer in HanahanFirst-Time Buyer in St. AndrewsFirst-Time Buyer in Wade HamptonFirst-Time Buyer in North Myrtle BeachFirst-Time Buyer in Five ForksFirst-Time Buyer in ClemsonFirst-Time Buyer in West ColumbiaFirst-Time Buyer in BereaFirst-Time Buyer in Red HillFirst-Time Buyer in LadsonFirst-Time Buyer in Seven OaksFirst-Time Buyer in DentsvilleFirst-Time Buyer in Lake WylieFirst-Time Buyer in GanttFirst-Time Buyer in Port RoyalFirst-Time Buyer in Moncks CornerFirst-Time Buyer in CayceFirst-Time Buyer in BeaufortFirst-Time Buyer in Tega CayFirst-Time Buyer in OrangeburgFirst-Time Buyer in GaffneyFirst-Time Buyer in Boiling SpringsFirst-Time Buyer in ParkerFirst-Time Buyer in Oak GroveFirst-Time Buyer in IrmoFirst-Time Buyer in James IslandFirst-Time Buyer in PowdersvilleFirst-Time Buyer in Fountain InnFirst-Time Buyer in Red BankFirst-Time Buyer in Garden CityFirst-Time Buyer in NewberryFirst-Time Buyer in Forest Acres

Frequently asked questions

Yes. First-Time Buyer 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.