South Carolina buyers can get down payment help through SC Housing, the state's housing finance agency, and the help is often a forgivable second mortgage, meaning you don't pay it back if you stay in the home long enough. You do need to work with a lender that offers SC Housing programs and finish a homebuyer education course.
The main programs (per SC Housing's 2025-2026 materials)
- Palmetto Home Advantage: a 0%, 3% or 4% down payment assistance option, structured as a 0% second mortgage that is forgiven over 10 years. Minimum credit score 640. Income limit $135,750 statewide. First-time and move-up buyers can use it, and it works with conventional, FHA, VA and USDA loans.
- SC Homebuyer Forgivable DPA: a $10,000 second mortgage forgiven over 15 years. County income limits apply.
- SC Homebuyer bond loans (FHA, VA, USDA, Conventional): first mortgages with county income limits and a 640 minimum credit score. They don't include down payment help on their own.
Your first three steps
- Check your credit score and household income against the limits above.
- Talk to a lender that offers SC Housing programs.
- Book the homebuyer education course, because it's required.
Quick answers
Do I have to be a first-time buyer? Not for Palmetto Home Advantage, which also covers move-up buyers. Other programs have first-time buyer rules with exceptions, so ask your lender.
Does this work in Charleston and Beaufort? Yes. Palmetto Home Advantage covers all 46 South Carolina counties. The bond programs have county income limits, so check yours.
Do the numbers change? Yes. Program terms are updated, so confirm today's rules before you plan around them.
Want help figuring out which program fits? I'm an SC Housing certified REALTOR®. Message me your budget and I'll walk you through it. Michaela Burkett · The Elevate Team at eXp Realty · 240-818-6849
Program details from SC Housing's Palmetto Home Advantage flyer (dated October 1, 2025) and its 2025-2026 homeownership programs guide. Terms may have changed; confirm with a lender that offers SC Housing programs.
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