SC Housing Homebuyer Program: South Carolina Down Payment Assistance
SC Housing gives South Carolina buyers forgivable down payment assistance, a flexible option for repeat buyers, and extra help for first-generation buyers. Here is the full picture, plain and simple.
The SC Housing Homebuyer Program
The core program pairs a competitively priced first mortgage, FHA, VA, USDA, or conventional, with forgivable down payment assistance. Forgivable means it is a second mortgage you do not repay as long as you stay in the home; it forgives over time. For a first-time buyer whose barrier is cash, that is valuable help you likely never pay back. The exact amount and forgiveness schedule are set by SC Housing and change, so confirm the current figures on the SC Housing site before you plan.
Palmetto Home Advantage
Alongside the Homebuyer Program, SC Housing runs Palmetto Home Advantage, a more flexible option. It provides down payment assistance as a percentage of the loan and has broader eligibility, notably, it can serve repeat buyers, not just first-time buyers, and often allows higher income limits. So if you have owned a home before, or your income is a bit high for the Homebuyer Program, Palmetto Home Advantage may still fit. Compare the two on our Homebuyer Program vs. Palmetto page.
The First-Generation Homebuyer Program
South Carolina also runs a First-Generation Homebuyer Program, extra down payment help for buyers who would be the first in their family to own a home (whose parents did not own). It is a distinctive program aimed at breaking the cycle for first-generation buyers, and it can layer with the standard assistance. If you think you might qualify, it is worth checking, see our First-Generation page.
Who qualifies
You need a 640 credit score, income under SC Housing’s limit for your county, and a home that will be your primary residence. The Homebuyer Program is generally for first-time buyers (waived in targeted counties), while Palmetto Home Advantage is more flexible. SC Housing also offers a mortgage credit certificate on some paths. Because the amounts and limits change, we confirm your current figures with SC Housing. See the eligibility page.
Verified August 2026 against SC Housing program materials (SC Housing). Exact DPA amounts, forgiveness terms, and income/price limits are set by SC Housing and change, confirm current figures at schousing.sc.gov. This is not a commitment to lend; rates are posted on the operator’s site.
Common questions
What is the SC Housing Homebuyer Program?
It is South Carolina's statewide homebuying program: a first mortgage (FHA, VA, USDA, or conventional) paired with forgivable down payment assistance, a second you do not repay as long as you stay in the home. SC Housing also runs Palmetto Home Advantage and a First-Generation Homebuyer Program.
Is SC Housing down payment assistance forgivable?
The SC Housing Homebuyer Program's assistance is forgivable, a second mortgage you do not repay as long as you stay, forgiven over time. Palmetto Home Advantage terms vary. Confirm the current amounts and forgiveness rules at SC Housing.
What credit score do I need for SC Housing?
A 640 minimum credit score. First mortgages are FHA, VA, USDA, or conventional, and income and price limits are set by county. Confirm your current figures at SC Housing.
See which SC Housing option fits you
Tell us your county, credit range, and price target, and we’ll map your South Carolina path in a no-pressure 20-minute call. No obligation.