See programs you qualify for

By Tyler Thompson · Licensed Real Estate Agent · Updated March 22, 2026

Homebuyer Programs in Myrtle Beach, SC (2026)

Population: 42,816 | Median home price: $290,000 | Est. closing costs: $5,500 - $8,500

Myrtle Beach is a fast-growing coastal city in Horry County, South Carolina, known for its tourism industry and affordable housing relative to other beach communities. With a median home price around $290,000, buyers here can access several valuable assistance programs. The SC Housing Homebuyer Program offers up to $10,000 in forgivable down payment assistance, while the Palmetto Home Advantage program provides up to 4% of the loan amount as a forgivable second mortgage. Eligible teachers, nurses, veterans, and first responders can also tap the Palmetto Heroes Program for $10,000 in forgivable assistance. Locally, Carolina Trust Federal Credit Union offers a first-time homebuyer mortgage with 100% financing and no PMI on loans up to $600,000, and Habitat for Humanity of Horry County provides interest-free mortgages with only $2,000 down for qualifying families. By combining state and local programs, Myrtle Beach buyers may be able to cover their entire down payment and closing costs.

County Programs in Horry County

Program Name	Type	Amount	First-Time Only	Details
Horry County HOME Consortium Homeownership Assistance	Grant	Varies by project and funding availability	No	View →

Horry County HOME Consortium Homeownership Assistance

Type:: Grant
Amount:: Varies by project and funding availability
First-time only:: No

State Programs in South Carolina

Program Name	Type	Amount	First-Time Only	Details
FHLBA Community Partners Product	Forgivable Loan	Up to $20,000 in home purchase assistance for down payment and closing costs	No	View →
FHLBA First Time Homebuyer Product	Forgivable Loan	Up to $17,500 in home purchase assistance for down payment and closing costs	Yes	View →
FHLBA Workforce Housing Plus+	Grant	Up to $15,000 in home purchase assistance for down payment and closing costs	No	View →
Palmetto Heroes Program	Forgivable Loan	$10,000 in forgivable down payment assistance	Yes	View →
Palmetto Home Advantage	Forgivable Loan	Up to 4% of the first mortgage loan amount	No	View →
SC Housing Homebuyer Program	Forgivable Loan	Up to $10,000 in forgivable down payment assistance	Yes	View →

FHLBA Community Partners Product

Type:: Forgivable Loan
Amount:: Up to $20,000 in home purchase assistance for down payment and closing costs
First-time only:: No

FHLBA First Time Homebuyer Product

Type:: Forgivable Loan
Amount:: Up to $17,500 in home purchase assistance for down payment and closing costs
First-time only:: Yes

FHLBA Workforce Housing Plus+

Type:: Grant
Amount:: Up to $15,000 in home purchase assistance for down payment and closing costs
First-time only:: No

Palmetto Heroes Program

Type:: Forgivable Loan
Amount:: $10,000 in forgivable down payment assistance
First-time only:: Yes

Palmetto Home Advantage

Type:: Forgivable Loan
Amount:: Up to 4% of the first mortgage loan amount
First-time only:: No

SC Housing Homebuyer Program

Type:: Forgivable Loan
Amount:: Up to $10,000 in forgivable down payment assistance
First-time only:: Yes

Federal Programs

Program Name	Type	Amount	First-Time Only	Details
FHA Loans	Government-Insured Mortgage	Up to FHA county loan limits ($541,287 floor to $1,249,125 ceiling for single-family in 2026)	No	View →
Good Neighbor Next Door (HUD)	Government Property Sale Program	50% discount off the list price of HUD-owned homes	Yes	View →
Home Possible Mortgage (Freddie Mac)	Government-Guaranteed Mortgage	Up to conforming loan limits ($832,750 standard / $1,249,125 high-cost in 2026); 3% minimum down payment	No	View →
HomeReady Mortgage (Fannie Mae)	Government-Guaranteed Mortgage	Up to conforming loan limits ($832,750 standard / $1,249,125 high-cost in 2026); 3% minimum down payment	No	View →
HUD $100 Down Program	FHA-Financed HUD REO Purchase	Only $100 down payment required (vs. standard 3.5% FHA down payment). HUD may also pay up to 3% of buyer's closing costs.	No	View →
USDA Rural Development Loans	Government-Guaranteed Mortgage	100% financing (no down payment required); loan amount up to appraised value	No	View →
VA Loans	Government-Guaranteed Mortgage	No loan limit for veterans with full entitlement (0% down at any price); partial entitlement subject to conforming limits ($832,750 standard in 2026)	No	View →

FHA Loans

Type:: Government-Insured Mortgage
Amount:: Up to FHA county loan limits ($541,287 floor to $1,249,125 ceiling for single-family in 2026)
First-time only:: No

Good Neighbor Next Door (HUD)

Type:: Government Property Sale Program
Amount:: 50% discount off the list price of HUD-owned homes
First-time only:: Yes

Home Possible Mortgage (Freddie Mac)

Type:: Government-Guaranteed Mortgage
Amount:: Up to conforming loan limits ($832,750 standard / $1,249,125 high-cost in 2026); 3% minimum down payment
First-time only:: No

HomeReady Mortgage (Fannie Mae)

Type:: Government-Guaranteed Mortgage
Amount:: Up to conforming loan limits ($832,750 standard / $1,249,125 high-cost in 2026); 3% minimum down payment
First-time only:: No

HUD $100 Down Program

Type:: FHA-Financed HUD REO Purchase
Amount:: Only $100 down payment required (vs. standard 3.5% FHA down payment). HUD may also pay up to 3% of buyer's closing costs.
First-time only:: No

USDA Rural Development Loans

Type:: Government-Guaranteed Mortgage
Amount:: 100% financing (no down payment required); loan amount up to appraised value
First-time only:: No

VA Loans

Type:: Government-Guaranteed Mortgage
Amount:: No loan limit for veterans with full entitlement (0% down at any price); partial entitlement subject to conforming limits ($832,750 standard in 2026)
First-time only:: No

Nonprofit Programs

Program Name	Type	Amount	First-Time Only	Details
Carolina Trust First-Time Homebuyer Mortgage	Grant	100% financing up to $600,000 with no PMI	Yes	View →
Habitat for Humanity of Horry County Homeownership Program	Zero-Interest Loan	Interest-free mortgage with only $2,000 down payment required	Yes	View →

Carolina Trust First-Time Homebuyer Mortgage

Type:: Grant
Amount:: 100% financing up to $600,000 with no PMI
First-time only:: Yes

Habitat for Humanity of Horry County Homeownership Program

Type:: Zero-Interest Loan
Amount:: Interest-free mortgage with only $2,000 down payment required
First-time only:: Yes

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16 programs available in Myrtle Beach. See which ones you qualify for.

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How to Apply

Step 1: Check your eligibility. Most state programs require household income at or below 80% of the area median income for Horry County. Review income and purchase price limits on the SC Housing website or contact them at (803) 896-2211.

Step 2: Complete homebuyer education. SC Housing programs require a HUD-approved homebuyer education course. Contact the Myrtle Beach HUD-approved counseling agency at (843) 918-1525 at 605 10th Avenue North, Myrtle Beach, SC 29577 for pre-purchase education workshops.

Step 3: Contact a participating lender. SC Housing works with over 100 approved lenders statewide. Ask specifically about the SC Housing Homebuyer Program, Palmetto Home Advantage, and Palmetto Heroes (if you qualify as a teacher, nurse, veteran, or first responder). Carolina Trust Federal Credit Union at (843) 448-2133 also offers a no-down-payment, no-PMI first-time homebuyer mortgage.

Step 4: Get pre-approved for a mortgage. Your lender will determine which programs you qualify for and how much assistance you can receive. Have your income documentation, tax returns, and employment history ready.

Step 5: Find a home within program limits. SC Housing programs have purchase price limits that vary by county. Your lender can confirm the current limits for Horry County.

Step 6: Submit your application and close. Once you have a signed purchase contract, your lender will process your SC Housing or other program application alongside your mortgage. Plan for a typical closing timeline of 30-45 days.

Frequently Asked Questions

How much down payment assistance can I get in Myrtle Beach?+

Myrtle Beach buyers can access several layers of assistance. The SC Housing Homebuyer Program offers up to $10,000 in forgivable down payment assistance. The Palmetto Home Advantage program provides up to 4% of your loan amount as a forgivable second mortgage. Qualifying teachers, nurses, veterans, and first responders can access the Palmetto Heroes Program for $10,000 in forgivable assistance. Carolina Trust Federal Credit Union also offers 100% financing with no PMI on loans up to $600,000 for first-time buyers. By combining programs, you could potentially cover your entire down payment and closing costs.

Do I have to be a first-time homebuyer to qualify?+

It depends on the program. The SC Housing Homebuyer Program requires first-time buyer status (no homeownership in the past 3 years). The Palmetto Heroes Program also requires first-time buyer status. However, the Palmetto Home Advantage program is available to first-time, move-up, and repeat buyers with no first-time buyer requirement. Carolina Trust Federal Credit Union defines first-time buyers as those who have not owned a primary residence or been on a deed in the past 3 years.

What is the maximum home price I can pay?+

Purchase price limits vary by program. The Palmetto Home Advantage program has no sales price limit. The SC Housing Homebuyer Program and Palmetto Heroes Program have county-specific limits that are updated annually — contact SC Housing at (803) 896-2211 or check their website for the current Horry County limit. Carolina Trust Federal Credit Union allows financing up to $600,000.

What homebuyer education is required?+

SC Housing programs require completion of a HUD-approved homebuyer education course. In Myrtle Beach, you can take a course through the HUD-approved counseling agency located at 605 10th Avenue North, Myrtle Beach. Contact them at (843) 918-1525 to register for pre-purchase education workshops. Habitat for Humanity of Horry County also requires monthly financial literacy classes as part of their 18-24 month homeownership program.

Can I buy a home in Myrtle Beach with no money down?+

Yes, there are several paths to zero or very low down payment in Myrtle Beach. Carolina Trust Federal Credit Union offers 100% financing with no PMI for first-time buyers with a credit score of 640 or above. VA loans also provide 100% financing for eligible veterans and service members. USDA loans offer 100% financing in eligible rural areas near Myrtle Beach. Combining an FHA loan (3.5% down) with SC Housing down payment assistance of up to $10,000 could also effectively eliminate your out-of-pocket costs.

How does the Habitat for Humanity program work in Horry County?+

Habitat for Humanity of Horry County offers an 18-24 month homeownership program. Qualifying families must have lived in Horry County for at least one year, earn between 35% and 80% of the area median income, and demonstrate a need for affordable housing. Participants complete 300 hours of sweat equity per adult, attend monthly financial literacy classes, and pay down existing debt. After completing the program, families purchase their Habitat home with an interest-free mortgage and only $2,000 down. Contact them at (843) 650-8815 ext. 8003 or visit their office at 165 Co-Op Road, Myrtle Beach, SC 29588.

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Buying a home in Myrtle Beach? 16 programs could help.

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