South Carolina’s homebuyer assistance landscape is anchored by SC Housing — the South Carolina State Housing Finance and Development Authority — which has operated for more than 50 years with the mission of making homeownership accessible across all 46 counties. SC Housing’s programs are among the most competitive in the Southeast: Palmetto Home Advantage serves both first-time and repeat buyers with no sales price limits, the Palmetto Heroes Program provides $10,000 in forgivable DPA for public servants and military, and CommunityWorks fills in with up to $25,000 in select metro areas.
SC Housing’s most flexible and widely used DPA option — available to both first-time and repeat buyers across all 46 South Carolina counties with no sales price limits.
First-time AND repeat buyers — no first-time homebuyer requirement
Conventional (HFA Preferred/HFA Advantage), FHA, VA, and USDA
0%, 3%, or 4% of the loan amount — forgivable after 10 years
DPA forgiven in full after 10 years; if you sell or refinance before 10 years, the remaining balance is due
$135,750 (2025/2026; not based on household size)
640
When combined with a conventional HFA Preferred/HFA Advantage loan, provides reduced PMI rates
Example: On a $280,000 purchase, 4% DPA provides $11,200 toward down payment and closing costs — covering FHA’s entire 3.5% down payment requirement with cash remaining for closing costs.
The traditional first-mortgage program targeting first-time buyers.
First-time homebuyers (no ownership in past 3 years); veterans and targeted-county buyers may qualify regardless
Conventional, FHA, VA, and USDA
Competitive fixed 30-year rate set by SC Housing
Available with or without down payment assistance; DPA forgiven after 15 years
Apply and vary by county
640
The 2026 Palmetto Heroes Program provides $10,000 in forgivable down payment assistance alongside a competitive fixed-rate mortgage for South Carolina’s essential workers and military community.
Eligible professions:
Teachers (K-12)
Nurses and registered nurses
Law enforcement officers
Correctional officers
Firefighters
Emergency medical technicians (EMTs)
Paramedics
Veterans
Active-duty military
National Guard members
Key features:
Amount: $10,000 forgivable DPA
Launch Date: March 16, 2026
Availability: First-come, first-served — funds are limited and historically exhaust quickly. The 2025 round exhausted $50 million in under one month after launch.
Requirement: First-time homebuyer requirement and income limits apply
Military note: For veterans and active-duty military, Palmetto Heroes can be combined with VA financing to offset closing costs, reducing total cash to close to near-zero for qualified buyers
Timing matters. If you are an eligible professional, contact us immediately — these funds have historically been exhausted within weeks.
Key features:
Amount: Up to $8,500 in forgivable DPA
Available to: First-time AND repeat buyers
Target Area: Designated rural and underserved South Carolina counties
Loan Types: Compatible with SC Housing first mortgages
Provides eligible first-time buyers with a federal income tax credit equal to 30% of annual mortgage interest paid, up to $2,000 per year — every year for the life of the loan. A tax credit (not a deduction) that reduces federal income taxes owed dollar for dollar. Can be combined with SC Housing mortgage and DPA programs.
Key features:
Amount: Up to $25,000
Structure: Forgivable for some buyers; repayable for buyers with higher incomes
Buyer Contribution: $500–$1,000 required
Markets: Greenville, Spartanburg, Beaufort, Bluffton (additional areas possible)
Fee: $325 origination fee
The City of Charleston First-Time Homebuyer Purchase Assistance Program provides up to $20,000 in down payment and closing cost assistance for income-eligible first-time buyers purchasing within Charleston city limits.
Conventional + Palmetto Home Advantage: For buyers with 640+ credit who want reduced MI rates plus forgivable DPA — the most
cost-effective combination for qualified buyers.
FHA + SC Housing Homebuyer Program or Palmetto Home Advantage: For buyers needing maximum accessibility. FHA pairs with both programs.
VA + Palmetto Heroes: VA requires no down payment. Palmetto Heroes’ $10,000 covers closing costs for eligible veterans and military.
USDA + Palmetto Home Advantage: For rural SC purchases — USDA requires no down payment; Palmetto Home Advantage DPA covers closing costs.
Palmetto Home Advantage provides forgivable DPA of 0%, 3%, or 4% of the loan amount to first-time AND repeat buyers across all 46 SC counties. No sales price limits. Income limit $135,750. Min 640 credit score. DPA forgiven after 10 years. Compatible with conventional, FHA, VA, and USDA. Reduced MI when paired with conventional.
Launched March 16, 2026, Palmetto Heroes provides $10,000 in
forgivable DPA for teachers, nurses, law enforcement, firefighters, EMTs, paramedics, veterans, active-duty military, and National Guard members. Funds are first-come, first-served and historically exhaust quickly.
VA Loans require no down payment. Palmetto Heroes is compatible with VA for eligible military and veteran buyers, and can cover closing costs to reduce total cash to close to near-zero.
No — Palmetto Home Advantage has no sales price limit. The only limit is the borrower income cap of $135,750 (2025/2026).
County First provides up to $8,500 in forgivable DPA for buyers in designated rural and underserved South Carolina counties. Available to both first-time and repeat buyers.
