Do I really need 20% down to buy a home in South Carolina?

No. Most first-time buyers in South Carolina put down far less than 20%. FHA loans can allow as little as 3.5% down, some conventional programs allow 3%, and VA and USDA loans can allow 0% down for those who qualify. Down payment assistance programs like SC Housing may help cover part of the rest.

What is SC Housing and how does its down payment assistance work?

SC Housing (the South Carolina State Housing Finance and Development Authority) offers home loan programs paired with down payment assistance for eligible buyers. The assistance can help cover part of your down payment and closing costs. Eligibility depends on your household income, the home's purchase price, your credit, and the county — and often a short homebuyer education course.

What credit score do I need to buy a home in South Carolina?

There is no single magic number. FHA loans are often available with lower scores than conventional loans, and different programs have different minimums. A few dings won't disqualify you. The best step is a quick review of your credit with a loan officer, who can tell you what you qualify for today and, if needed, map out a simple plan to improve it.

How much are closing costs in South Carolina, and can I get help with them?

Closing costs typically run a few percent of the purchase price and cover things like the appraisal, title, and lender fees. In many cases they can be reduced or covered through seller credits, lender credits, or down payment assistance programs — so you bring less cash to the table. We'll give you a clear estimate up front.

How do I find out which first-time buyer program is right for me?

The fastest way is a short, no-pressure conversation. Christa Votaw (NMLS #1111313) reviews your income, credit, location, and goals, then matches you to the programs you actually qualify for. She serves buyers across Georgia, North Carolina, South Carolina, and Tennessee.

First-Time Homebuyer Programs in South Carolina (2026): Down Payment Help That Actually Exists

By Christa Votaw · NMLS #1111313·Updated July 2026·7 min read

A first-time homebuyer couple standing in front of a bright Southern home with hydrangeas in South Carolina

✅ The quick answer

Here's the honest truth — you do not need 20% down to buy a home in South Carolina. Many first-time buyers put down 3–3.5%, and VA or USDA loans can be zero down for those who qualify. On top of that, SC Housing offers down payment assistance that can help cover part of your down payment and closing costs. So the real question isn't "do I have enough saved?" — it's "which program fits me?" And that's a quick, no-pressure conversation.

Hey — let me clear up a myth that holds so many good people back. If you've been telling yourself you can't buy a home yet because you don't have a huge amount saved, take a breath. The idea that you need 20% down is one of the most common — and most expensive — misunderstandings in home buying. Right here in Charleston and all across the Southeast, there are real programs built to help first-time buyers get through the front door with far less. Let me walk you through them, honestly and simply — and with zero pressure.

First, the 20%-down myth — put to rest

You do not need 20% down to buy a home. Most first-time buyers I work with put down a small fraction of that, and some pay nothing down at all. Here's the honest landscape:

FHA loans — as little as 3.5% down, with flexible credit guidelines. A favorite for first-time buyers.
Conventional 97 — some conventional programs allow just 3% down for eligible buyers.
VA loans — 0% down for qualifying veterans, active-duty service members, and some surviving spouses. (Thank you for your service.)
USDA loans — 0% down in eligible rural and many suburban Lowcountry areas. More of South Carolina qualifies than folks expect.

An honest nudge from Christa: the "right" loan isn't the one with the lowest down payment on paper — it's the one that fits your monthly comfort, your credit, and your timeline. That's the whole reason we talk before you go shopping.

SC Housing: the down payment help most buyers don't know about

SC Housing — the South Carolina State Housing Finance and Development Authority — offers home loans paired with down payment assistance for eligible buyers. In plain English: it can help cover a chunk of your down payment and closing costs, which is usually the single biggest thing standing between renting and owning.

Whether you qualify generally comes down to a few things:

Your household income (there are limits, and they vary by county and family size).
The purchase price of the home (there are limits here too).
Meeting standard credit and loan guidelines.
Often a short homebuyer education course — which, honestly, is worth doing anyway.

Because those income and price limits change and differ by county, the honest answer to "do I qualify?" is: let's look at your numbers together. It takes a few minutes, and there's no pressure.

What about my credit?

Your credit history helps decide which programs and terms are open to you — but a few dings do not mean "no." You're entitled to free reports at AnnualCreditReport.com, and small, steady habits move the needle over time: pay on time, keep your card balances low, and don't open or close a bunch of accounts right before you apply. If your credit needs a little love first, that's not a dead end — it's just a plan we build together.

Key takeaways

20% down is a myth — 3–3.5% is common, and VA/USDA can be zero down.
SC Housing can help with down payment and closing costs if you're eligible.
Credit "dings" don't disqualify you — they just shape the plan.
The smartest first move is a quick, no-pressure numbers check.

Your simple path from "someday" to keys

Step 1 — Find your comfortable number. Start with a monthly payment that feels calm, then we work backward to a price.
Step 2 — Get pre-approved. It tells you your real range and makes your offer strong.
Step 3 — Match to the right program. FHA, conventional, VA, USDA, or an SC Housing pairing — whatever fits you.
Step 4 — Shop with confidence, make a smart offer, and close. I'll be in your corner the whole way.

Questions first-time buyers ask me

Do I really need 20% down in South Carolina?

No. Many buyers put down 3–3.5%, and VA/USDA can be zero down for those who qualify. Assistance programs may help with the rest.

What is SC Housing?

It's South Carolina's state housing authority. It offers home loans plus down payment assistance for eligible buyers, based on income, purchase price, credit, and county.

What credit score do I need?

There's no single magic number — FHA is often more flexible than conventional, and programs vary. A quick credit review tells you exactly where you stand and what to do next.

How much are closing costs, and can I get help?

Usually a few percent of the price (appraisal, title, lender fees). They can often be reduced or covered through seller credits, lender credits, or assistance programs — so you bring less cash.

Is this only for people who've never owned a home?

"First-time buyer" often means you haven't owned in the last three years — so more folks qualify than assume they do. Repeat buyers have great options too.

Let's find your clear way home 🤍

A warm, honest look at what you qualify for across Georgia, North Carolina, South Carolina & Tennessee — no pressure, no email required to start.

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Hey, I'm Christa. I'm a transplant who fell in love with Charleston — my family and I have been here since 2009, and it's where we've raised our three kids and put down deep roots. Faith, family, and genuinely caring about people are at the heart of how I work. Buying or refinancing is a big deal, and I want you to feel comfortable, informed, and never rushed — I'll be right in your corner from your first question to the keys. NMLS #1111313.

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Equal Housing Lender. Christa Votaw, NMLS #1111313. Clear Home Loans, a Division of Aspire Home Loans, LLC, NMLS #1955132. This article is for general educational purposes only, is not financial or legal advice, and is not an offer or commitment to lend. Program availability, eligibility, income and purchase-price limits, rates, and guidelines are subject to change and vary by program, county, and applicant. All loans are subject to credit approval. SC Housing is a program of the South Carolina State Housing Finance and Development Authority; this site is not affiliated with or endorsed by any government agency.