Population
96000
First-Time Homebuyer Programs in Mount Pleasant, SC (2026)
Mount Pleasant is one of the fastest-growing cities in South Carolina, with roughly 96,000 residents in Charleston County and a median home price around $650,000. While the market is competitive, first-time buyers can access SC Housing's Palmetto Home Advantage program which has no purchase price cap and a statewide income limit of $137,500, making it well-suited for Mount Pleasant's higher price range. Teachers, nurses, law enforcement officers, and military members can also access $10,000 in additional forgivable assistance through the Palmetto Heroes program.
Median Home Price
650000
Estimated Closing Costs
$13,000 - $19,500
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. For Palmetto Home Advantage, confirm your household income is at or below $137,500 statewide and your credit score is at least 640. For the SC Housing Homebuyer Program, check Charleston County income limits ($110,900 for 1-2 persons). Step 2: Complete a homebuyer education course. HUD-approved education is required for most SC Housing programs. Contact the Charleston Trident Urban League at (843) 965-4037, which provides HUD-approved 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 before applying for any program to get personalized guidance. Step 4: Get pre-approved with an SC Housing-approved lender. Pre-approval is required to access Palmetto Home Advantage and Palmetto Heroes. Given Mount Pleasant's higher price points, ask your lender about VA loans if you are a veteran, as they have no loan limits for eligible buyers. Step 5: Find a home and confirm program fit. Palmetto Home Advantage has no purchase price cap, which is a key advantage in Mount Pleasant. The SC Housing Homebuyer Program caps purchases at $450,000, which rules out many Mount Pleasant homes. Step 6: Submit your application through your SC Housing-approved lender. Allow 30 to 45 days for processing. Palmetto Heroes-eligible buyers should confirm their professional credentials with their lender upfront.
FAQ
How much down payment assistance can I get in Mount Pleasant?
Through Palmetto Home Advantage, buyers can receive forgivable DPA of up to 4% of the loan amount with no purchase price cap. On a $500,000 loan that equals $20,000 in assistance. Palmetto Heroes-eligible buyers (teachers, nurses, law enforcement, military) can receive an additional $10,000 in forgivable DPA.
What credit score do I need for down payment assistance in Mount Pleasant?
SC Housing programs including Palmetto Home Advantage require a minimum credit score of 640. Given Mount Pleasant's higher home prices, many buyers use conventional financing which also requires a 640 minimum for SC Housing programs.
Can I combine Mount Pleasant programs with SC state programs?
Yes. Palmetto Home Advantage and Palmetto Heroes can be layered together for eligible buyers. Because Mount Pleasant homes often exceed the $450,000 SC Housing Homebuyer Program cap, Palmetto Home Advantage with no purchase price limit is usually the better fit here.
What is the maximum home price I can pay using Mount Pleasant programs?
Palmetto Home Advantage has no purchase price cap, which makes it the best fit for Mount Pleasant where many homes exceed $450,000. The SC Housing Homebuyer Program caps at $450,000 in Charleston County, limiting its usefulness in this market.
Do I have to be a first-time homebuyer to qualify for assistance in Mount Pleasant?
No. Palmetto Home Advantage has no first-time homebuyer requirement and is open to both first-time and repeat buyers. This makes it ideal for move-up buyers coming from starter homes elsewhere in the Charleston metro into Mount Pleasant.
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