Population
162500
First-Time Homebuyer Programs in Charleston, SC (2026)
Charleston is one of South Carolina's most historic and sought-after cities, located along the coast in Charleston County with a population of roughly 162,500. The median home price sits around $525,000, making down payment and closing cost assistance especially valuable for first-time buyers entering this competitive market. The City of Charleston Homeownership Initiative offers up to $20,000 in forgivable assistance, and at the state level the SC Housing Homebuyer Program adds up to $10,000 more. By combining city and state programs, Charleston buyers could stack over $37,000 in total assistance.
Median Home Price
525000
Estimated Closing Costs
$10,500 - $16,000
Charleston Programs
| Program Name | Type | Amount | Min Credit Score | First-Time Buyer Required? |
|---|---|---|---|---|
| City of Charleston Homeownership Initiative | Forgivable Loan | $20,000 | None stated | Yes |
Charleston County Programs
| Program Name | Type | Amount | Min Credit Score | First-Time Buyer Required? |
|---|
South Carolina State Programs
| Program Name | Type | Amount | Min Credit Score | First-Time Buyer Required? |
|---|---|---|---|---|
| SC Housing Homebuyer Program | Forgivable Loan | $10,000 | 620 | Yes |
| Palmetto Home Advantage | Forgivable Loan | Up to 5% of loan amount (3%, 4%, or 5% options) | 640 | No |
| Palmetto Heroes Program | Forgivable Loan | $10,000 | 640 | Yes |
| SC Housing Mortgage Credit Certificate (MCC) | Tax Credit | Up to $2,000 federal tax credit per year | 640 | Yes |
Federal Programs
| Program Name | Type | Amount | Min Credit Score | First-Time Buyer Required? |
|---|---|---|---|---|
| FHA Loan Program | Government-Insured Mortgage | $0 down payment assistance (3.5% minimum down payment required) | 580 | No |
| VA Home Loan Program | Government-Guaranteed Mortgage | $0 down payment required | None stated | No |
| USDA Rural Development Loan | Government-Guaranteed Mortgage | $0 down payment required | None stated | No |
| Good Neighbor Next Door Program | Deferred Loan | $0 down payment (50% discount on HUD-owned homes) | None stated | No |
Nonprofit Programs
| Program Name | Type | Amount | Min Credit Score | First-Time Buyer Required? |
|---|---|---|---|---|
| Charleston Habitat for Humanity Homeownership Program | Zero-Interest Loan | No-interest mortgage on affordable home | None stated | No |
| Charleston Trident Urban League Housing Counseling | Grant | Free housing counseling and first-time buyer education | None stated | No |
How to Apply
Step 1: Check your eligibility. Confirm your credit score is at least 620 for FHA-backed programs or 640 for SC Housing conventional options. Verify your household income falls within Charleston County limits ($110,900 for 1-2 persons, $127,535 for 3 or more). Step 2: Complete a homebuyer education course. A HUD-approved course is required for most programs. Contact the Charleston Trident Urban League at (843) 965-4037, which offers HUD-approved housing counseling and first-time buyer workshops. Step 3: Contact a HUD-approved housing counselor. Reach the Charleston Trident Urban League at (843) 965-4037 or visit ctul.org to schedule a counseling session before you apply. Step 4: Get pre-approved with an SC Housing-approved lender. Pre-approval is required to access the SC Housing Homebuyer Program, Palmetto Home Advantage, and Palmetto Heroes programs. Ask your lender about layering multiple programs. Step 5: Find a home within program limits. The City of Charleston Homeownership Initiative requires the home be within city limits with priority given to five target neighborhoods. The SC Housing Homebuyer Program has a purchase price limit of $450,000. Step 6: Submit your application. Contact the City of Charleston Housing and Community Development office at (843) 724-3766 for the Homeownership Initiative. State programs are submitted through your SC Housing-approved lender. Allow 30 to 45 days for processing.
FAQ
How much down payment assistance can I get in Charleston?
Charleston buyers can potentially stack over $37,000 in combined assistance. The City of Charleston Homeownership Initiative provides up to $20,000, and the SC Housing Homebuyer Program adds up to $10,000. Palmetto Heroes eligible buyers (teachers, nurses, law enforcement, military) can receive an additional $10,000 on top of that.
What credit score do I need for down payment assistance in Charleston?
Most SC Housing programs require a minimum credit score of 640. The City of Charleston Homeownership Initiative does not publish a specific minimum, but most participating lenders require at least 620. FHA loans, which pair with many DPA programs, require 580 or higher.
Can I combine Charleston programs with SC state programs?
Yes. The City of Charleston Homeownership Initiative can be layered with SC Housing programs including the Homebuyer Program and Palmetto Heroes. Work with an SC Housing-approved lender to structure the combination correctly and maximize your total assistance.
What is the maximum home price I can pay using Charleston programs?
The SC Housing Homebuyer Program has a purchase price limit of $450,000 in Charleston County. The City of Charleston Homeownership Initiative requires the home be within city limits but does not publish a fixed price cap. Contact (843) 724-3766 to confirm current limits.
Do I have to be a first-time homebuyer to qualify for assistance in Charleston?
Most programs require that you have not owned a primary residence in the past three years, which is the standard definition of first-time buyer. The Palmetto Home Advantage program from SC Housing is an exception and is available to both first-time and repeat buyers statewide.
Find Every Dollar Available to You
Tell us about your situation and we'll match you with every program you qualify for in your target city.