FHA Loans in South Carolina
The FHA loan limit in South Carolina is $472,030 for a single-family home. FHA loans require just 3.5% down payment and accept credit scores as low as 580.
South Carolina's FHA limits at the baseline cover the vast majority of the state's housing market. Charleston's rising prices have pushed some homes in the historic district and Mount Pleasant above the limit, and Charleston County may qualify for a slightly elevated limit. FHA works well throughout the state's other markets — Greenville, Columbia, Myrtle Beach, and smaller communities all have prices well within FHA limits. South Carolina's mix of newer construction and well-maintained older homes means FHA appraisals generally proceed smoothly.
By BuyAHomeIn Editorial | Updated 2026-03-02 | Sources: HUD, Zillow
FHA Loan Limit
$472,030
Min Down Payment
$16,521
3.5%
Est. Monthly Payment
$3,391
PITI + MIP
Min Credit Score
580
for 3.5% down
Monthly Payment Breakdown at FHA Limit
| Home Price | $472,030 |
| Down Payment (3.5%) | $16,521 |
| Loan Amount | $455,509 |
| Monthly Costs | |
| Principal & Interest (6.5%) | $2,879 |
| FHA Mortgage Insurance (MIP) | $209 |
| Property Tax | $185 |
| Homeowners Insurance | $118 |
| Total Monthly Payment | $3,391 |
* Estimated at 6.5% interest rate, 30-year fixed. MIP at 0.55% annual. Property tax at South Carolina's average rate of 0.47%. Includes upfront MIP of 1.75% rolled into loan.
FHA Loan Requirements
Credit Score
580+ for 3.5% down payment. 500-579 requires 10% down.
Down Payment
Minimum 3.5% of purchase price. Can be a gift from family.
Debt-to-Income
Maximum 43% DTI ratio (up to 50% with compensating factors).
Property Requirements
Must be primary residence. FHA appraisal required (stricter than conventional).
Employment
2 years of steady employment history. Self-employed need 2 years of tax returns.
Mortgage Insurance
1.75% upfront MIP + 0.55% annual MIP. Required for life of loan (unless refinanced).
FHA vs Conventional in South Carolina
| Feature | FHA | Conventional |
|---|---|---|
| Min Down Payment | 3.5% | 3-5% |
| Min Credit Score | 580 | 620 |
| Mortgage Insurance | Life of loan | Until 20% equity |
| Loan Limit (South Carolina) | $472,030 | $766,550+ |
| Best For | Lower credit, small savings | Good credit, 20%+ down |
