Down payment assistance in Charleston, SC

The Charleston Homeownership Initiative, run by the City's Department of Housing and Community Development, sells City-sponsored homes to first-time buyers (no home in 3 years) earning between 50% and 120% of area median income. Down payment and closing cost help comes from City and partner sources. The amount isn't published, and the City's money is secured by long-term restrictive covenants, including a 90-year affordability covenant. The current offering is Juniper Townhomes in West Ashley, sold first-come, first-qualified through the City's Neighborly portal. The program has served 133 households so far.

Who gets priority, and what do I need first?

Current and former residents of the City's target neighborhoods get priority. Every buyer completes homebuyer counseling through OriginSC or the Charleston Trident Urban League and must live in the home as a primary residence. Because the 120% AMI ceiling reaches into moderate incomes, this can work for households that earn too much for typical 80% AMI grants. The trade-off is that you buy one of the listed homes, not any house on the market, and the long covenant limits resale.

If none of the sponsored homes fit, the statewide programs apply anywhere in the city. Charleston County's limits are $117,500 for 1-2 people and $135,125 for 3 or more, with a $450,000 price ceiling and the 3-year first-time rule, so SC Housing's $10,000 forgivable DPA is open to many buyers year-round. Charleston County School District teachers and Charleston Police and Fire staff fit the Palmetto Heroes roles for the next round. The Charleston County guide covers the line with Dorchester County in North Charleston, and the program finder sorts the rest.

Assistance offered by Charleston

Statewide choices

Buyers in Charleston may also turn to 5 statewide programs, Palmetto Heroes among them. You will find each one in the complete South Carolina list, or our program match can sort them for you.

The county guide: Charleston County

Homebuyer classes near Charleston County

Nearly every assistance program asks you to complete a homebuyer class before closing. The HUD-approved agencies below, each within reach of Charleston County, teach that class or offer counseling before purchase.

Taken from HUD’s list of housing counseling agencies. A given program may not accept every class.

Questions about Charleston