South Carolina Mortgage Guides

South Carolina FHA Loan Requirements 2026

Q: Can I combine an FHA loan with SC Housing down payment assistance?

Yes. SC Housing's down payment assistance is designed to be layered on top of an FHA first mortgage through a participating lender. This combination allows buyers to purchase with little to no out-of-pocket down payment while using FHA's flexible credit requirements. Palmetto Heroes and the core Homebuyer Program both support FHA as the underlying loan type.

Q: What happens if my purchase price is above the FHA limit in my county?

If your purchase price exceeds the FHA limit, you'll need to either use a conventional loan, make a larger down payment to bring the loan amount below the FHA limit, or use a jumbo loan. FHA limits vary by South Carolina county — Charleston, Berkeley, and Dorchester counties have the highest FHA limits in the state at $690,000, while most other counties sit at the $541,287 national floor.

Q: Are condos eligible for FHA financing in South Carolina?

Yes, but only condos in FHA-approved condo projects. Condo approval is project-level — individual unit eligibility depends on whether the homeowners association has received FHA project approval. This matters especially in coastal South Carolina markets like Myrtle Beach and Charleston, where condos make up a large share of inventory. Search the HUD condo approval database or ask your lender to confirm before making an offer.

FHA loan limits for every South Carolina county, credit score requirements, MIP costs, and how FHA financing compares to other options in the South Carolina housing market.

📖 8 min readUpdated 2026South Carolina · FHA Loans

$541,287–$690,000FHA limit range (1-unit)

$690,000Highest limit (Charleston/Berkeley)

3.5%Minimum down payment (580+ score)

0.55%Annual MIP (most loans)

In This Guide

South Carolina FHA loan limits by county
FHA requirements in South Carolina
FHA mortgage insurance premiums (MIP)
SC Housing + FHA combination
FHA vs. conventional for South Carolina buyers
South Carolina FHA FAQs

South Carolina FHA Loan Limits by County (2026)

FHA loan limits are set by HUD and updated annually based on local median home prices. No South Carolina county is classified as high-cost for 2026, but the Charleston-North Charleston and Hilton Head Island-Bluffton metro areas sit above the national floor.

County	1-Unit	2-Unit	3-Unit	4-Unit
Charleston County	$690,000	$883,300	$1,067,750	$1,326,950
Berkeley County	$690,000	$883,300	$1,067,750	$1,326,950
Dorchester County	$690,000	$883,300	$1,067,750	$1,326,950
Beaufort County	$638,250	$817,050	$987,650	$1,227,400
Jasper County	$638,250	$817,050	$987,650	$1,227,400
Richland County (Columbia)	$541,287	$693,050	$837,700	$1,041,125
Lexington County (Columbia metro)	$541,287	$693,050	$837,700	$1,041,125
Greenville County	$541,287	$693,050	$837,700	$1,041,125
Horry County (Myrtle Beach)	$541,287	$693,050	$837,700	$1,041,125
Spartanburg County	$541,287	$693,050	$837,700	$1,041,125
York County (Rock Hill)	$541,287	$693,050	$837,700	$1,041,125
All other South Carolina counties	$541,287	$693,050	$837,700	$1,041,125

Two elevated metro areas, no high-cost counties. Charleston, Berkeley, and Dorchester counties (Charleston-North Charleston MSA) and Beaufort and Jasper counties (Hilton Head Island-Bluffton-Port Royal MSA) sit above the $541,287 national floor due to local median home prices, but none reach FHA’s high-cost ceiling. Every other South Carolina county sits at the standard national floor. Limits are set per-county by HUD and updated annually; always confirm your exact county limit using HUD’s official FHA Mortgage Limits lookup tool.

FHA Requirements in South Carolina

Requirement	FHA Standard	South Carolina Notes
Minimum credit score (3.5% down)	580	Most South Carolina lenders add a 580–600 overlay
Minimum credit score (10% down)	500	Limited lender options below 580
Minimum down payment	3.5%	Can be covered by SC Housing DPA
Maximum DTI	43–50%	50% with compensating factors
Loan limits (most counties)	$541,287–$690,000	Varies by county; see table above
Upfront MIP	1.75% of loan	Financed into loan or paid at closing
Annual MIP (LTV > 90%)	0.55%/year	For 30-yr loan > $150K
MIP duration (<10% down)	Life of loan	Key FHA disadvantage vs. conventional
Property requirement	Primary residence	Must be owner-occupied; South Carolina requires an attorney at closing regardless of loan type

FHA Mortgage Insurance Premiums (MIP)

MIP Type	Rate	On a $400,000 Loan
Upfront MIP (UFMIP)	1.75% of loan amount	$7,000 (typically financed)
Annual MIP (monthly)	0.55%/yr (30-yr, LTV 95%+)	~$183/mo

MIP cancellation: FHA MIP is permanent on loans originated after June 3, 2013, with less than 10% down payment. For South Carolina buyers who put down 10% or more, MIP cancels after 11 years. Many South Carolina borrowers refinance into a conventional loan once they reach 20% equity to eliminate MIP.

SC Housing + FHA Combination

SC Housing’s Palmetto Heroes program can pair with an FHA first mortgage. Unlike SC Housing’s flagship Homebuyer Program DPA — which has no fixed dollar amount and is allocated by SC Housing based on fund availability — Palmetto Heroes offers a confirmed, published $10,000 in forgivable down payment assistance for eligible teachers, first responders, healthcare workers, and military service members. Here’s how it works on a $350,000 FHA purchase:

Item	Amount
Purchase price	$350,000
FHA down payment (3.5%)	$12,250
Palmetto Heroes assistance	$10,000
Net down payment from buyer	$2,250 (Palmetto Heroes covers most of the down payment)

Buyers using SC Housing’s flagship Homebuyer Program DPA (not the fixed-figure Palmetto Heroes program) should confirm their specific assistance amount with an SC Housing-approved lender before budgeting, since that program’s amount varies by fund availability rather than a published formula. Confirm current terms at schousing.com.

FHA vs. Conventional for South Carolina Buyers

Factor	FHA	Conventional
Min credit score	580	620
Min down payment	3.5%	3–5%
Mortgage insurance	Life of loan (if <10% down)	Cancels at 20% equity
SC Housing DPA compatible	Yes	Yes
Best for South Carolina buyers	580–679 credit, limited savings	680+ credit, stable income

South Carolina FHA FAQs

Can I combine an FHA loan with SC Housing down payment assistance?

Yes. SC Housing’s down payment assistance is designed to be layered on top of an FHA first mortgage through a participating lender. This combination allows buyers to purchase with little to no out-of-pocket down payment while using FHA’s flexible credit requirements. Palmetto Heroes and the core Homebuyer Program both support FHA as the underlying loan type.

What happens if my purchase price is above the FHA limit in my county?

If your purchase price exceeds the FHA limit, you’ll need to either use a conventional loan, make a larger down payment to bring the loan amount below the FHA limit, or use a jumbo loan. FHA limits vary by South Carolina county — Charleston, Berkeley, and Dorchester counties have the highest FHA limits in the state at $690,000, while most other counties sit at the $541,287 national floor.

Are condos eligible for FHA financing in South Carolina?

Yes, but only condos in FHA-approved condo projects. Condo approval is project-level — individual unit eligibility depends on whether the homeowners association has received FHA project approval. This matters especially in coastal South Carolina markets like Myrtle Beach and Charleston, where condos make up a large share of inventory. Search the HUD condo approval database or ask your lender to confirm before making an offer.