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South Carolina Palmetto Home Advantage

SC Housing offers Palmetto Home Advantage to home buyers in South Carolina: up to 4% of the home loan, as a forgivable loan.

Amount
Up to 4% of the home loan
Kind of help
Forgivable loan
First-time buyers only
No
Credit score
640 or higher

Forgivable loan: help that can be forgiven, with no monthly payment.

A forgivable loan is written off once you have kept the home and its first mortgage for the years the program sets.

Who qualifies for South Carolina Palmetto Home Advantage?

  • Borrower income up to $135,750; household or family size doesn't change this.
  • You don't have to be a first-time buyer.
  • A credit score of 640 or higher.
  • It comes with a Conventional, FHA, VA or USDA loan through the Palmetto Home Advantage program.
  • Price limit: no sales price limit.

Most limits follow your county and household size. Our HUD income limits lookup shows your area's median income and where your household sits.

How to apply for South Carolina Palmetto Home Advantage

  1. SC Housing pays this help out through its approved lenders, so you apply with one of them, together with your home loan.
  2. The lender checks your income, credit and the home against the program's rules and reserves the money for you.
  3. The help is paid at closing, toward your down payment and closing costs.

Read the full rules and whether it is taking applications on SC Housing's page for Palmetto Home Advantage, or pick a lender from the agency's list of participating lenders.

Ask a lender about South Carolina Palmetto Home Advantage

Tell us where you're buying and a lender that works with South Carolina's programs can tell you whether South Carolina Palmetto Home Advantage fits you, and what you could combine with it.

Call 866-602-7460

Rather not call? Send your details and the lender will reach you.

When you send this request, you agree that one mortgage lender who works with these programs may contact you by email, phone or text, including by automated means, about this request. Agreeing is not a condition of any purchase. We are an independent guide, not a lender or a government agency; only that one lender gets your details, and it may pay us for the introduction. See our about page and privacy notice.

Other first-time buyer programs in South Carolina

All South Carolina first-time home buyer programs · Down payment assistance in every state