The Federal Housing Administration or FHA, announced the 2019 SC FHA loan size limits in all areas of each state. Most of the SC FHA loan size limits increased to $314,827. But, there are some counties which have higher limits. So make sure that you check these limits when considering an FHA loan. Plus, check out other valuable FHA resources on our site to see how South Carolina FHA loans can help you own a home.
Located just across the NC/SC line, we frequently lend FHA loans throughout the Myrtle Beach and Horry County SC area. Horry County’s FHA limit also increased to $314,827 for 2019. Although, we also provide FHA loans throughout South Carolina.
Russell Smith, Senior Mortgage Lender
FHA loans are known for flexible guidelines, affordable monthly payments, and low cash to close. Here’s 10 excellent FHA features for buyers or homeowners.
SC FHA Loan Benefits
- Gift, down payment assistance, and other flexible down payment sources
- Up to 55% debt ratios allowed
- Non-occupying coborrowers
- As low as 600 credit scores
- Previous foreclosure, bankruptcy, or short sale allowed
- 1 year commission income allowed
- Seller paid costs up to 6% of sales price
- Low down payment condo loans
- Manufactured homes and modular home financing
- Renovation loans for home improvements
FHA Funding Fee
Keep in mind that the FHA funding fee of 1.75% of the loan amount is added on top of the base loan amount. These limits are the base loan only so the FHA funding fee is allowed to be over these limits. In other words, this fee is financed on top of the base loan. So, you don’t have to pay it out of pocket.
So if using an FHA loan, check out these limits. Then compare your approximate loan amount with the corresponding FHA loan size limits.
2019 SC FHA Loan Size Limits:
Most SC counties use the standard FHA loan size limits which are shown below. For instance if buying a home in Myrtle Beach with an FHA loan, the maximum FHA loan (before FHA funding fee) is $314,827
- One-Family Homes = $314,827
- Two -Family Homes = $403,125
- Three-Family Homes = $487,250
- Four-Family Homes = $605,525
SC FHA Loan Size Limits – Higher Limit SC Counties
Not all South Carolina counties are limited to $314,827. Actually 10 SC counties have higher SC FHA loan size limits. Therefore, more buyers are able to use FHA loan benefits in these higher cost areas.
| SC County | One Unit | Two Unit | Three Unit | Four Unit |
| Beaufort SC | $350,750 | $449,000 | $542,750 | $674,500 |
| Berkeley SC | $388,700 | $497,600 | $601,500 | $747,500 |
| Charleston SC | $388,700 | $497,600 | $601,500 | $747,500 |
| Chester SC | $317,400 | $406,300 | $491,150 | $610,400 |
| Dorchester SC | $388,700 | $497,600 | $601,500 | $747,500 |
| Georgetown SC | $327,750 | $419,550 | $507,150 | $630,300 |
| Jasper SC | $350,750 | $449,000 | $542,750 | $674,500 |
| Lancaster SC | $317,400 | $406,300 | $491,150 | $610,400 |
| York SC | $317,400 | $406,300 | $491,150 | $610,400 |
FHA Lender in the following SC counties:
Abbeville, Aiken, Allendale, Anderson, Bamberg, Barnwell, Beaufort, Berkeley, Calhoun, Charleston, Cherokee, Chester, Chesterfield, Clarendon, Colleton, Darlington, Dillon, Dorchester, Edgefield, Fairfield, Florence, Georgetown, Greenville, Greenwood, Hampton, Horry, Jasper, Kershaw, Lancaster, Laurens, Lee, Lexington, McCormick, Marion, Marlboro, Newberry, Oconee, Orangeburg, Pickens, Richland, Saluda, Spartanburg, Sumter, Union, Williamsburg, York
Combine the benefits of an FHA loan with down payment assistance too! Ask how.