South Carolina USDA Income Limits for all Counties

Just Released South Carolina USDA Income Limits

USDA Guaranteed Rural Housing Home Loans are an excellent choice for not only first time buyers but Charleston South Carolina USDA Income Limitsmove-up buyers too.  One of the biggest roadblocks to homeownership today is lack of down payment.  But USDA loans give buyers a great no down payment option.  Plus it offers a 30 year fixed interest rate.  USDA is not as popular as FHA, but most of the time USDA is actually the better option because of the lower monthly PMI (called Annual Fee).  Plus USDA does not require a down payment, where FHA has a minimum 3.5% down payment requirement.  Team Move can help buyers in qualifying including if they meet the South Carolina USDA Income Limits.

 

In order to qualify for a USDA loan, there are two primary requirements besides the normal credit, debt to income, and asset qualifications.  First, properties must be in a USDA Eligible Area.  Check out our Step by Step Guide to Locate USDA Eligible Properties to find eligible homes in your area.  Secondly, the total household income cannot exceed the USDA income limits for the county or area of the subject property.  In this article, we show the South Carolina USDA Income Limits.

County Household Income Limits

The USDA income limits are based on the household income of everyone that will live in the property that Columbia South Carolina USDA Elgible Areasis 18 or older.  So household members that are not on the mortgage loan application are even included in the maximum limit.

Almost all SC counties have the standard USDA Income Limits.  For households of one to four members, the income limit is $75,650.  In addition, if the household is five or more people, the income limit is $99,850.  But, there are some counties in South Carolina that are higher than the standard limits as shown below in the chart.

Areas in South Carolina with higher USDA income limits

  • County / Area
  • Charleston SC
  • North Charleston SC
  • Charlotte Metro Area
  • Concord Metro Area
  • Gastonia Metro Area
  • Hilton Head Island SC
  • Bluffton SC
  • Beaufort SC
  • Beaufort County
  • Up to 4 Person Households
  • $75,900
  • $75,900
  • $78,800
  • $78,800
  • $78,800
  • $80,300
  • $80,300
  • $80,300
  • $80,300
  • 5 or More Person Households
  • $100,200
  • $100,200
  • $104,000
  • $104,000
  • $104,000
  • $106,000
  • $106,000
  • $106,000
  • $106,000
Myrtle Beach and Horry County South Carolina USDA Income Limits

You can Exceed the USDA Income Limits

So now you know the USDA income limits for SC.  But what if your income is higher than these limits?  There could one of five options that could help borrowers qualify when the household income is over the area limit.  So, you can read these helpful tricks in our article “How to exceed the USDA Household Income Limits“.

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Author: Russell Smith

Team Move OVM Financial loan officer success is Russell’s primary focus. He provides the tools and techniques he used as a top producing loan officer. Additionally he offers the Team Move OVM Financial Agent Training Program. Sharing is so important to Russell so he works diligently to be a resource to loan originators and Realtors.