We are here to help you

Call us: 1-866-361-3406

South Carolina FHA Loans

View Loan Limits - Calculate Your Payment
2022 South Carolina FHA Loan Requirements

South Carolina FHA Loan | Requirements | 2022 FHA Loan Limits

FHA loans provide a great opportunity to buy a home in South Carolina.  The FHA (Federal Housing Administration) was created to help the average American have a chance at owning their own home.  One of the reasons that FHA loans are so popular is because of the low down payment option.  FHA loans allow you to purchase a home with only a 3.5% down payment.  There are also less strict requirements to get an FHA loan (compared to conventional loans), such as being able to qualify with a credit score as low as 500.

South Carolina FHA Loan Requirements

Below are some of the basic requirements to get an FHA loan in South Carolina.  If you would like to find out if you are eligible for an FHA loan, we can help match you with a lender.  To have an FHA lender contact you, request a free consultation.

  • Credit Score – To qualify for the 3.5% down payment, you must have a 580 credit score or higher. If your credit score is between a 500-579, you still may qualify for an FHA loan, but will be required to put 10% down.
  • Job History – Proof of employment for 2 years is required. It is ok if you have changed jobs, but you need to show consistent employment/income.
  • Financial Statements – You should expect to be required to provide your 2 most recent bank statements, pay stubs, and tax returns.
  • Debt-to-Income – You can not have a debt-to-income ratio higher than 43%.  However, if you have “compensating factors” you might be able to get approved with higher debt levels (a compensating factor could be more money in savings, longer job history, or great credit).
  • Primary Residence – You must occupy the home that you intend to purchase and have it be your primary residence. FHA loans are not available to purchase an investment property, second home, or vacation home.
  • Mortgage Insurance – All FHA loans, regardless of the lender, require two types of mortgage insurance.  This includes the UPMIP (Upfront Mortgage Insurance Premium) and the regular MIP (Mortgage Insurance Premium).  FHA MIP acts similarly to how PMI (Private Mortgage Insurance) on a conventional loan acts.  You can use this FHA loan calculator to estimate your monthly payment and mortgage insurance costs.
  • FHA Loan Limits – FHA loans have maximum lending limits, which are set at the county level. You can view the 2022 FHA loan limits for all counties in South Carolina below.

Would you like to see if you qualify for an FHA loan?  We can help match you with a mortgage lender that offers FHA loans in South Carolina.  To have an FHA lender contact you, request a free consultation.

2022 South Carolina FHA Loan Limits

Below are the 2022 FHA loan limits for every county in South Carolina:

County Single Family (1 Unit) 2 Units 3 Units 4 Units
ABBEVILLE $420,680 $538,650 $651,050 $809,150
AIKEN $420,680 $538,650 $651,050 $809,150
ALLENDALE $420,680 $538,650 $651,050 $809,150
ANDERSON $420,680 $538,650 $651,050 $809,150
BAMBERG $420,680 $538,650 $651,050 $809,150
BARNWELL $420,680 $538,650 $651,050 $809,150
BEAUFORT $420,680 $538,650 $651,050 $809,150
BERKELEY $473,800 $606,550 $733,150 $911,150
CALHOUN $420,680 $538,650 $651,050 $809,150
CHARLESTON $473,800 $606,550 $733,150 $911,150
CHEROKEE $420,680 $538,650 $651,050 $809,150
CHESTER $420,680 $538,650 $651,050 $809,150
CHESTERFIELD $420,680 $538,650 $651,050 $809,150
CLARENDON $420,680 $538,650 $651,050 $809,150
COLLETON $420,680 $538,650 $651,050 $809,150
DARLINGTON $420,680 $538,650 $651,050 $809,150
DILLON $420,680 $538,650 $651,050 $809,150
DORCHESTER $473,800 $606,550 $733,150 $911,150
EDGEFIELD $420,680 $538,650 $651,050 $809,150
FAIRFIELD $420,680 $538,650 $651,050 $809,150
FLORENCE $420,680 $538,650 $651,050 $809,150
GEORGETOWN $420,680 $538,650 $651,050 $809,150
GREENVILLE $420,680 $538,650 $651,050 $809,150
GREENWOOD $420,680 $538,650 $651,050 $809,150
HAMPTON $420,680 $538,650 $651,050 $809,150
HORRY $420,680 $538,650 $651,050 $809,150
JASPER $420,680 $538,650 $651,050 $809,150
KERSHAW $420,680 $538,650 $651,050 $809,150
LANCASTER $420,680 $538,650 $651,050 $809,150
LAURENS $420,680 $538,650 $651,050 $809,150
LEE $420,680 $538,650 $651,050 $809,150
LEXINGTON $420,680 $538,650 $651,050 $809,150
MCCORMICK $420,680 $538,650 $651,050 $809,150
MARION $420,680 $538,650 $651,050 $809,150
MARLBORO $420,680 $538,650 $651,050 $809,150
NEWBERRY $420,680 $538,650 $651,050 $809,150
OCONEE $420,680 $538,650 $651,050 $809,150
ORANGEBURG $420,680 $538,650 $651,050 $809,150
PICKENS $420,680 $538,650 $651,050 $809,150
RICHLAND $420,680 $538,650 $651,050 $809,150
SALUDA $420,680 $538,650 $651,050 $809,150
SPARTANBURG $420,680 $538,650 $651,050 $809,150
SUMTER $420,680 $538,650 $651,050 $809,150
UNION $420,680 $538,650 $651,050 $809,150
WILLIAMSBURG $420,680 $538,650 $651,050 $809,150
YORK $420,680 $538,650 $651,050 $809,150

    Get a Free Mortgage Consultation


    Minimum Down Payment Required

    Home Loan Programs Available In:

    Alabama, Alaska, Arkansas, Arizona, California, Colorado, Connecticut, Delaware, Florida, Georgia, Hawaii, Kansas, Kentucky, Louisiana, Idaho, Iowa, Illinois, Indiana, Maine, Massachusetts, Maryland, Michigan, Minnesota, Mississippi, Missouri, Montana, Nebraska, Nevada, New Hampshire, New Jersey, New Mexico, New York, North Carolina, North Dakota, Ohio, Oklahoma, Oregon, Pennsylvania, Rhode Island, South Carolina, South Dakota, Tennessee, Texas, Utah, Vermont, Virginia, Washington, West Virginia, Wisconsin, and Wyoming.