Palmetto Home Advantage

Administered by: SC State Housing Finance and Development Authority · State · Forgivable Loan

Funding status: Active

How much assistance

Up to 4% of the first mortgage loan amount (Forgivable Loan)

Zero interest, no monthly payments. Forgivable second mortgage with a 10-year term. Fully forgiven after 10 years if borrower remains in the home as primary residence.

Eligibility

  • Income limits: Statewide income limit: $135,750. Based on standard credit qualifying income. Not dependent on family size.
  • First-time buyer required: No
  • Credit score minimum: 640
  • Geographic restrictions: Available in all 46 South Carolina counties. Property must be owner-occupied primary residence.
  • Homebuyer education required: Yes

How to Apply for Palmetto Home Advantage

Step 1: Work with an SC Housing approved lender. Available for conventional, FHA, VA, and USDA loan types. Complete homebuyer education prior to loan approval.

Visit program website

Notes

No sales price limit. Available to first time, move-up, and repeat buyers.

Cities Where This Program Is Available

Available Statewide In