SC Housing is the state housing finance agency. It does not take applications from the public. Its loans are made through participating lending partners, so which lender you pick decides whether these programs are even on the table.
| Program | Who it is for | What it offers |
|---|---|---|
| SC Housing Homebuyer Program | First-time buyers with low to moderate income, with an exception to the first-time rule for veterans | Fixed rate financing, with or without forgivable down payment assistance; county income and home price limits apply |
| County First Initiative | First-time and move-up buyers in targeted, previously underserved counties | FHA, USDA or VA financing at a reduced rate with forgivable assistance |
| Palmetto Home Advantage | First-time, move-up and repeat buyers in all 46 counties | Conventional, FHA, VA and USDA options, a 640 minimum credit score, no sales price limit and a statewide borrower income limit |
| Palmetto Heroes | Teachers, nurses, first responders, veterans and other public service workers | A yearly program with its own funding window; the 2026 round closed in April |
The help with down payment and closing costs is recorded as a second mortgage behind your main loan, at zero percent interest with no monthly payment.
On the Homebuyer Program the second lien runs 15 years and is forgiven if you stay in the home for the full term.
Its assistance is 0, 3 or 4 percent of the loan amount, also with no monthly payment.
Ask first whether the lender is an SC Housing lending partner. Then ask it to price the same purchase both ways: the state program with its assistance, and a standard FHA, VA, USDA or conventional loan without it. Income limits, home price limits and funding change, so confirm current figures on schousing.sc.gov before you count on a number. Assessed value and tax rules that affect the payment are on closing costs and property tax.
Source: SC Housing, Programs for Homebuyers and program pages at schousing.sc.gov, read September 30, 2026. General information, not legal or tax advice.
Home Loans Inc is a South Carolina mortgage broker in North Charleston. One application, priced across many wholesale lenders, with a person who answers the phone.