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    FHA Loan Requirements in South Carolina

    Updated: October 8 2026 • 11 min read
    Written by Bennett Leckrone
    Bennett Leckrone

    Written by
    Bennett Leckrone
    Writer / Reviewer / Expert

    Bennett Leckrone is the editorial manager and an analyst for Lower. He specializes in making complicated mortgage topics accessible for consumers. That includes both in-depth product guides and analysis on what economic moves mean for homebuyers and refinancers. He is also a licensed loan officer in Ohio, NMLS ID 2782574. He was previously a business reporter with a focus on higher education and fintech at BestColleges. In that role, he reported on the development of fintech and AI curriculum, as well as the rapidly changing nature of finance education. He also wrote guides to help business students navigate AI and online education. He also reported on state politics at Maryland Matters, with a focus on how policy affected people and businesses. He holds a bachelor of science in journalism degree from Ohio University.
    Reviewed by Neel Patel
    Neel Patel

    Reviewed by
    Neel Patel
    Reviewer

    Neel Patel is a mortgage industry professional with more than a decade of hands-on experience across loan origination, customer experience, sales operations, and strategy. He has worked at every stage of the mortgage lifecycle, from advising individual borrowers to leading teams of loan officers. As an expert reviewer, Neel evaluates mortgage and personal finance content for accuracy, clarity, and real-world applicability. He specializes in ensuring information reflects how lending actually works in practice so consumers can make confident, informed decisions.
    Our Editorial Standards

    Key Takeaways

    • You may be able to buy with as little as 3.5% down if your credit score is 580 or higher.
    • Most South Carolina counties have a 2026 FHA loan limit of $541,287 for a single-family home. The Charleston area's limit is higher at $690,000.
    • If the home will be your primary residence, South Carolina's 4% legal-residence property-tax assessment can make its tax treatment different from a second home or investment property.
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    South Carolina FHA loan requirements are based on federal rules, so your basic credit, down payment and income requirements do not change from Charleston to Greenville.

    Where you buy does affect other parts of the mortgage. FHA loan limits are higher around Charleston and Hilton Head, while property taxes and insurance costs can also vary considerably between inland and coastal homes.

    The broader FHA loan requirements cover your credit, income, debts, down payment and the property itself. Meeting FHA's minimum guidelines does not automatically mean a lender will approve the loan.

    South Carolina FHA Loan Basics

    Requirement What South Carolina Buyers Should Know
    Minimum down payment As little as 3.5% with a credit score of 580 or higher
    Credit scores from 500 to 579 Generally require at least 10% down
    2026 loan limits $541,287 in most counties and up to $690,000 around Charleston for a single-family home
    Income limit FHA does not set a maximum income limit
    Occupancy You generally need to use the home as your primary residence
    Mortgage insurance Upfront and annual FHA mortgage insurance generally apply

    Lenders look beyond the minimum credit score. Your payment history, income, monthly debts and available funds can all affect approval and how much you can borrow.

    FHA Home Loan Rates in South Carolina for 2026

    Your FHA rate depends on market conditions and your individual loan. Credit, loan size, down payment, discount points and the timing of your rate lock can all affect the rate you're offered.

    Mortgage rates remain high compared with much of the past decade. Freddie Mac reported a 7.28% average for 30-year fixed conventional mortgages on Oct. 1, 2026. That is not an FHA rate, but it provides context for the broader mortgage market.

    When comparing FHA offers, look at the APR and discount points along with the interest rate. A lower rate that requires more money upfront is not always the less expensive option over the time you expect to keep the mortgage.

    Your location can also affect costs beyond principal and interest. Property taxes are calculated locally, while coastal homes can have different homeowners, wind and flood insurance needs than homes farther inland.

    Before choosing FHA financing based on the interest rate alone, compare current South Carolina mortgage rates across loan types. APR, points and mortgage insurance can change the overall cost of an offer.

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    South Carolina FHA Loan Calculator

    Most FHA purchase loans include an upfront mortgage insurance premium equal to 1.75% of the base loan amount. You can generally finance this amount into the mortgage instead of paying the full premium at closing.

    Annual FHA mortgage insurance is usually divided across your monthly payments. The rate depends on your loan amount, loan term and how much you put down.

    The calculator below uses a 0.55% annual mortgage insurance rate as an estimate. That applies to many FHA purchase loans, but it is not the annual rate for every FHA mortgage.

    How long you pay annual mortgage insurance also depends on the loan. On many FHA mortgages longer than 15 years, putting at least 10% down means paying annual mortgage insurance for 11 years. With less than 10% down, it generally remains for the mortgage term.

    Property taxes deserve extra attention in South Carolina. A qualifying primary residence can receive the state's special 4% legal-residence assessment ratio. You have to apply with the county for this treatment, so do not assume the previous owner's tax bill will automatically be your tax bill.

    For a coastal property, check insurance costs before relying on a payment estimate. Homeowners insurance generally does not cover flooding, and some properties may need separate wind or hail coverage.

    FHA Loan
    Calculator

    Model principal and interest, FHA mortgage insurance, property taxes, and upfront MIP.

    Est. Monthly FHA Payment

    $0

    What’s driving this estimateLive from your current assumptions
    Use the sliders for quick comparisons or tap the blue value pills to type exact numbers.
    Upfront MIP

    Illustrative FHA estimate only. Uses a 1.75% upfront MIP and 0.55% annual MIP assumption. Actual FHA MIP rules depend on loan amount, term, LTV, and case-specific factors. Not a loan offer.

    How this calculator works

    Move the sliders to test scenarios, or tap any blue value pill to type an exact number. The headline result and supporting detail pills update live as you change inputs so you can compare options without resetting your work.

    Methodology: Base loan = home price × (1 − down payment %). Upfront MIP = 1.75% of the base loan, optionally rolled into the loan. Principal & interest are amortized over 30 years using the standard fixed-rate formula M = P · r(1+r)n / ((1+r)n−1), where r is the monthly rate and n is months. Annual MIP of 0.55% is divided by 12 and added monthly. Property taxes are estimated as home price × tax rate ÷ 12.

    Worked example: Home price $400,000, 3.5% down, 6.5% rate, 1.1% taxes, UFMIP financed: base loan $386,000; UFMIP $6,755; financed loan $392,755; monthly P&I ≈ $2,482; monthly MIP ≈ $177; monthly taxes ≈ $367; total ≈ $3,026/mo.

    Use these estimates to compare options and prepare questions for a lender. Final pricing, eligibility, and approval depend on a full application and lender review.

    FHA Loan Requirements for South Carolina Borrowers

    Credit Score and Down Payment

    A credit score of 580 or higher can make you eligible for FHA's minimum 3.5% down payment.

    If your score is between 500 and 579, FHA guidelines generally require at least 10% down. Individual lenders can set higher credit requirements.

    Your credit score is only one part of FHA credit qualification. Lenders also consider your payment history, income, debts and available funds.

    FHA allows eligible gift funds, so your down payment does not necessarily have to come entirely from your own savings. The donor and transfer of the money must meet FHA documentation requirements.

    Debt-to-Income Ratio

    Your debt-to-income ratio, or DTI, compares your monthly debt payments with your gross monthly income. FHA does not have one 43% maximum that applies to every borrower.

    For manually underwritten loans, 31% for housing expenses and 43% for total monthly debt are the standard starting points. Higher ratios can be allowed in certain cases when the borrower meets additional FHA requirements.

    Many FHA applications are reviewed through an automated underwriting system instead. Those applications are evaluated using the overall loan file rather than one DTI percentage as an automatic cutoff.

    Existing debt still matters when determining how your DTI affects FHA qualification.

    Income Requirements

    FHA does not set a maximum income limit. Your lender instead needs to document enough stable qualifying income to support the mortgage and your other monthly obligations.

    There is no single income level required to buy a home with an FHA loan in South Carolina. The amount you need depends on the home price, mortgage rate, property taxes, insurance and your existing debts.

    Primary Residence Requirements

    An FHA purchase loan is generally intended for a home you will live in as your primary residence.

    That also lines up with an important South Carolina tax distinction. The state's 4% legal-residence property-tax assessment applies to a qualifying primary residence, while other residential property can be treated differently for tax purposes.

    Single-Family Homes, Condos and Multifamily Properties

    FHA financing can be used for eligible single-family homes, certain condos and properties with two to four units.

    If you buy a duplex, triplex or fourplex, you need to live in one of the units. Eligible rental income from the remaining units may help you qualify, although additional rules apply to some FHA multifamily purchases.

    Condos have another layer of eligibility. The condo may be in an FHA-approved project, or an individual unit may qualify through FHA's Single-Unit Approval process.

    If you are considering a condo in Charleston, Myrtle Beach, Hilton Head or another condo-heavy market, checking FHA condo eligibility early can help you avoid finding out later that the property itself does not qualify.

    How to Apply for an FHA Loan in South Carolina

    1. Compare FHA financing with other mortgage options based on your credit, savings and expected monthly housing costs.
    2. Apply with an FHA-approved lender and document your income, employment, debts and available funds.
    3. The lender reviews the application through FHA's underwriting process.
    4. Choose a home that meets FHA property and occupancy requirements.
    5. Complete the FHA appraisal and any other required property reviews.
    6. Review the interest rate, APR, mortgage insurance, closing costs and total monthly payment before closing.

    FHA Loan Limits in South Carolina for 2026

    Most South Carolina counties have a $541,287 FHA loan limit for a single-family home in 2026.

    That standard limit applies in major markets including Greenville, Columbia and Myrtle Beach.

    Limits are higher in parts of the Lowcountry. Beaufort and Jasper counties have a $638,250 limit, while Berkeley, Charleston and Dorchester counties have the state's highest limit at $690,000.

    Use the county lookup below to check the exact amount for the property you are considering. You can also verify it through HUD's FHA loan limit lookup.

    2026 FHA loan limits by county

    Loading map…
    County 1-Unit Limit 2-Unit 3-Unit 4-Unit
    Source: HUD, 2026 FHA forward mortgage limits

    FHA loan limits are set annually by the U.S. Department of Housing and Urban Development (HUD). Limits vary by county and property type, with higher ceilings in designated high-cost areas and statutory special areas (Alaska, Hawaii, Guam, and the U.S. Virgin Islands). This map is for informational purposes only and does not constitute a loan offer or commitment to lend. Actual loan eligibility depends on credit, income, property, and lender guidelines.

    2026 South Carolina FHA Loan Limit Examples

    County

    2026 1-Unit FHA Loan Limit

    Berkeley County

    $690,000

    Aiken County

    $541,287

    Abbeville County

    $541,287

    Always verify current limits using HUD’s official FHA loan limits lookup tool before making an offer.

    Single-Family and Multi-Unit FHA Loan Limits for 2026

    FHA loan limits increase with the number of units, supporting buyers who plan to live in one unit and rent the others.

    Units

    2026 FHA Floor

    2026 FHA Ceiling

    1

    $541,287

    $1,249,125

    2

    $693,050

    $1,599,375

    3

    $837,700

    $1,933,200

    4

    $1,041,125

    $2,402,625

    Two- to four-unit properties are eligible if you occupy one unit as your primary residence.

    Frequently Asked Questions

    What Is the Typical Down Payment for an FHA Loan in South Carolina?

    Most borrowers with a credit score of 580 or higher need a 3.5% down payment.

    How Do FHA Loan Limits Vary Across South Carolina Counties?

    Limits are set by county (or equivalent area) and range from $541,287 to $690,000 for a 1-unit FHA loan in 2026, depending on the location.

    What Credit Score Do I Need to Qualify for an FHA Loan?

    A score of 580 or higher qualifies for 3.5% down. Borrowers with scores between 500 and 579 may qualify with 10% down.

    How Does Mortgage Insurance Affect FHA Loan Payments?

    FHA loans include both upfront and annual mortgage insurance, which increases monthly payments but allows easier qualification and lower down payments.

    Can FHA Financing Be Used for Multi-Unit Properties in South Carolina?

    Yes. FHA allows financing for two- to four-unit properties in South Carolina if you occupy one unit as your primary residence. Loan limits increase based on the number of units, with higher maximum amounts available for multi-unit properties.



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