First-Time Home Buyer Programs in South Carolina

SC Housing offers several programs for first-time buyers. The SC Housing Homebuyer Program provides 30-year fixed-rate mortgages with down payment assistance up to 4% of the loan amount. The Palmetto Home Advantage program offers up to 4% DPA with no repayment required if you stay in the home 10 years. Forgivable Downpayment Assistance (FDA) provides $6,000–$8,000 in grants that are forgiven over 5 years. Income and purchase price limits apply — Amber will run a qualification check for you at no cost.

Not always. SC Housing defines 'first-time buyer' as someone who has not owned a primary residence in the past 3 years. Additionally, some programs like the Palmetto Home Advantage have no first-time buyer requirement — anyone below the income limit can qualify. Veterans may also access certain programs regardless of prior ownership history.

SC Housing programs generally require a minimum 620 credit score for conventional loans and 580–620 for FHA loans. The Palmetto Home Advantage program requires a 640 minimum. USDA loans (for rural areas like Summerville, Moncks Corner, and parts of Goose Creek) require a 640 for automated approval. Amber works with lenders who can help you improve your score if you're not quite there yet.

Income limits vary by program and household size. For most SC Housing programs in Charleston County, the income limit is approximately $97,000–$115,000 for a 1–2 person household and $111,000–$132,000 for 3+ persons. Limits are adjusted periodically. Amber will connect you with a SC Housing-approved lender who can give you the current exact limits based on your household size.

Yes. FHA loans are available throughout the Charleston metro with as little as 3.5% down (620+ credit score). USDA loans offer zero-down financing in eligible rural and suburban areas — many parts of Summerville, Goose Creek, Moncks Corner, Ladson, and Johns Island qualify. USDA loan limits in the Charleston area allow homes priced up to $400,000+ depending on county. Amber specializes in matching buyers with the right program for their situation.

SC Housing-backed loans typically take 35–45 days to close — slightly longer than a conventional purchase because of the additional approval layer. If you are combining DPA with an FHA loan, allow 40–50 days. Amber will coordinate your timeline so there are no surprises and you can close in sync with your lease expiration or move date.