South Carolina mortgage market at a glance
| Item | South Carolina |
|---|---|
| 2026 conforming loan limit | $832,750 (baseline, all counties) |
| 2026 FHA loan limit | $541,287 floor; higher in some coastal counties |
| Foreclosure process | Judicial (court required) |
| State housing agency | SC Housing (SC State Housing Finance and Development Authority) |
South Carolina splits into two markets: a booming, increasingly expensive coast and a deeply affordable interior. The loan limits treat them the same, and the state’s buyer programs have been setting production records for years for a reason.
Loan limits in South Carolina
The 2026 conforming loan limit is $832,750 in all 46 counties. Charleston’s peninsula and the beach towns blow past it regularly, sending those buyers to jumbo loans. In Columbia, Greenville, and most of the state, the baseline is far more house than the median buyer needs.
FHA limits run from the $541,287 floor across most of the state to higher figures in pricier coastal counties. An FHA loan with 3.5 percent down fits South Carolina’s inland markets especially well.
First-time buyer programs in South Carolina
SC Housing, formally the South Carolina State Housing Finance and Development Authority, runs the state’s homebuyer programs through participating lenders. The core Homebuyer Program pairs fixed-rate FHA, VA, USDA, and conventional loans with forgivable down payment help, structured as a zero-interest second lien with no monthly payment. Palmetto Heroes offers enhanced terms to teachers, nurses, law enforcement, firefighters, EMTs, veterans, and active military. A first-generation homebuyer initiative adds assistance with a lower fixed rate for buyers whose parents never owned. Income and price caps apply. Details at schousing.sc.gov.
What closing on a home costs in South Carolina
Two structural facts shape South Carolina closings. First, this is an attorney state. The state supreme court requires a licensed attorney to supervise residential closings, so a legal fee is built into every deal. Second, foreclosure is judicial, meaning lenders must go through the courts, a slower process that gives defaulting borrowers more procedural room than in neighboring Georgia’s trustee-sale system.
The state also collects a deed recording fee based on the sale price, customarily paid by the seller. Property taxes on owner-occupied homes are among the lowest in the country, which helps the monthly math considerably.
How to get the best rate in South Carolina
- Get three or more quotes and benchmark them against our best mortgage lenders guide.
- Ask every lender to price an SC Housing loan with the forgivable assistance included.
- Run the full payment, South Carolina’s low owner-occupied property taxes included, through our mortgage calculator.
- Check the down payment guide before deciding how much cash to bring. The forgivable second may beat draining savings.
- Buying on the coast? Price flood insurance before you fall in love with the house.
For rates, loan types, and lender rankings, visit our mortgages hub.