Buying a Home in South Carolina: Mortgage Guide for 2026

South Carolina has become one of the Southeast's most dynamic real estate markets, attracting buyers from the Northeast, Midwest, and within the region. From Charleston's historic charm to Myrtle Beach's vacation investment market, SC offers opportunities across every buyer type.

SC Housing Programs

SC Housing offers the Homeownership Program with competitive 30-year fixed rates and down payment assistance for eligible first-time buyers. The Palmetto Heroes benefit provides additional rate reductions and DPA for teachers, law enforcement, firefighters, healthcare workers, and veterans.

Up to $12,000 in DPA is available as a forgivable second mortgage, subject to income and purchase price limits.

Charleston: High Demand on Both Sides

Charleston consistently ranks as one of the most desirable cities in the country. The market is competitive across price ranges. The historic district has a strong STR market with investors using DSCR loans to finance vacation rental properties.

Myrtle Beach: Premier STR Investment Market

Myrtle Beach is one of the most active short-term rental markets on the entire East Coast. DSCR loans — with projected or documented vacation rental income — are the dominant financing vehicle here.

An important note for condo investors: many Myrtle Beach developments have high investor concentrations making them non-warrantable, requiring portfolio or non-QM lending rather than conventional financing.

USDA in South Carolina

Many inland and rural SC counties are USDA-eligible, offering zero-down financing for income-qualified buyers outside the major coastal markets.

At East Coast Mortgage, we originate mortgages across South Carolina for primary residence buyers, vacation home buyers, and investors. Submit your scenario to get started.