South Carolina FHA Loan Requirements 2026
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.
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 |
