06/10/2026
Saving for a down payment is often the biggest hurdle to buying a home. Fortunately, SC Housing offers Down Payment Assistance (DPA) programs that make homeownership affordable and accessible.
Here are the top benefits:
Zero Interest & No Monthly Payments: Many SC programs are "silent second mortgages" with a 0% interest rate and no monthly payments.
Forgivable Loans: If you stay in the home for a set period (usually 10 to 15 years), the entire loan balance is completely forgiven—essentially giving you free equity.
Minimal Cash Out-of-Pocket: By covering up to 4% of the purchase price, these programs can wipe out your required down payment or help cover closing costs, meaning you can move in with very little savings.
Palmetto Heroes Perks: Teachers, medical professionals, firefighters, police officers, and veterans can receive specialized assistance (up to $10,000) and lower interest rates.
The Bottom Line: SC Down Payment Assistance bridges the financial gap, allowing you to stop renting and start building wealth through homeownership much sooner.