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Self-Employed loans in South Carolina

Quick answer

Self-employed buyers in South Carolina can qualify with two years of tax returns on conventional, FHA, VA or USDA loans, or with 12–24 months of bank statements on non-QM programs.

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

Self-Employed loan snapshot for South Carolina

ItemEstimate
Minimum down payment3%–10%
Minimum credit score620–660
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 Self-Employed 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.

What documents do self-employed borrowers need?

  • Two years of personal federal tax returns (all schedules).
  • Two years of business returns (1120S, 1065 or 1120) if applicable.
  • Year-to-date profit and loss statement.
  • Business license or CPA letter verifying the business.
  • Recent personal and business bank statements.

Full-doc vs bank-statement loans

Full documentationBank-statement (non-QM)
Income sourceTax returns12–24 months of deposits
Down payment3%–5%+Usually 10%+
RateMarketTypically higher

Self-Employed loans in South Carolina cities

CharlestonColumbiaNorth CharlestonMount PleasantRock HillGreenvilleSummervilleGoose CreekSumterFlorenceGreerSpartanburgHilton Head IslandMyrtle BeachAikenBlufftonAndersonFort MillCarolina ForestConwayMauldinSimpsonvilleNorth AugustaSocasteeLexingtonEasleyTaylorsGreenwoodHanahanSt. AndrewsWade HamptonNorth Myrtle BeachFive ForksClemsonWest ColumbiaBereaRed HillLadsonSeven OaksDentsvilleLake WylieGanttPort RoyalMoncks CornerCayceBeaufortTega CayOrangeburgGaffneyBoiling SpringsParkerOak GroveIrmoJames IslandPowdersvilleFountain InnRed BankGarden CityNewberryForest AcresLittle RiverMurrells Inlet

Frequently asked questions

Yes. Self-Employed 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.