South Carolina First-Time Home Buyer Programs of 2024

Phil Metzger
By Phil Metzger 
Updated
Edited by Dawnielle Robinson-Walker

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Officially known as the South Carolina State Housing Finance and Development Authority, SC Housing works with lenders, home builders and government officials to assist first-time home buyers in the Palmetto State.

SC Housing offers low-income and low- to moderate-income residents down payment and closing cost assistance to help make homeownership happen.

SC Housing highlights and eligibility requirements

SC Housing enables 30-year fixed-rate FHA, VA, USDA or conventional loans with down payment and closing cost assistance. Local lenders make the mortgages, according to SC Housing guidelines. Loan costs include a 1% origination fee.

Each loan program has its own list of details, but here is an overview of some common characteristics.

Highlights

  • 30-year fixed-rate loans.

  • Down payment and closing cost assistance.

  • Reduced mortgage insurance premiums on some loans.

Eligibility

  • Completion of a home buyer education course is required for down payment assistance.

  • A minimum credit score of 620 may be required, depending on the program — though your qualifying credit score does not assure loan approval.

  • Borrowers can be first-time home buyers or repeat buyers, depending on the program.

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Check Rate

on Rocket Mortgage

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5.0

NerdWallet rating 
Rocket Mortgage - PURCHASE logo

5.0

NerdWallet rating 
Min. credit score 
580

Min. down payment 
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Check Rate

on Rocket Mortgage

Better - PURCHASE logo
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on Better

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Better - PURCHASE logo

4.5

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620

Min. down payment 
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on Better

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620

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