{"id":4064,"date":"2016-07-03T01:01:57","date_gmt":"2016-07-03T01:01:57","guid":{"rendered":"http:\/\/teammovemortgage.com\/?p=4064"},"modified":"2020-07-13T22:33:02","modified_gmt":"2020-07-13T22:33:02","slug":"south-carolina-usda-income-limits","status":"publish","type":"post","link":"https:\/\/teammovemortgage.com\/blog\/south-carolina-usda-income-limits\/","title":{"rendered":"South Carolina USDA Income Limits for all Counties"},"content":{"rendered":"

Just Released South Carolina USDA Income Limits<\/h2>\n

USDA<\/strong> <\/a>Guaranteed Rural Housing Home Loans are an excellent choice for not only first time buyers but \"Charlestonmove-up buyers too.\u00a0 One of the biggest roadblocks to homeownership today\u00a0is lack of down payment.\u00a0 But USDA loans give buyers a great no down payment option.\u00a0 Plus it offers\u00a0a\u00a030 year fixed interest rate.\u00a0 USDA is not as popular as FHA,<\/strong><\/a> but most of the time USDA is actually the better option because of the lower monthly PMI (called Annual Fee<\/strong><\/a>).\u00a0 Plus USDA does not require a down payment, where FHA has a minimum 3.5% down payment requirement.\u00a0 Team Move can help buyers\u00a0in qualifying including if they meet the South Carolina USDA Income Limits.<\/p>\n

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In order to qualify for a USDA loan, there are two\u00a0primary\u00a0requirements besides the normal credit, debt to income, and asset qualifications.\u00a0\u00a0First, properties must be in a USDA Eligible Area.\u00a0 Check out our Step by Step Guide to Locate USDA Eligible Properties<\/strong><\/a> to\u00a0find eligible homes in your area.\u00a0\u00a0Secondly, the total household income\u00a0cannot exceed the USDA income limits for the county or area of the subject\u00a0property.\u00a0 In this article, we\u00a0show the South Carolina USDA Income Limits.<\/p>\n

County Household Income Limits<\/h2>\n

The USDA income limits are based on the household income of everyone that\u00a0will live in the property that \"Columbiais 18 or older.\u00a0 So\u00a0household members that are not on the mortgage loan application are even included in the maximum limit.<\/p>\n

Almost all SC counties\u00a0have the standard USDA Income Limits.\u00a0 For households of one to four members, the income limit is\u00a0$75,650.\u00a0 In addition,\u00a0if the household is five or more people, the income limit is $99,850.\u00a0 But, there are some counties in\u00a0South Carolina that are higher than the standard limits as shown below in the chart.<\/p>\n

Areas in\u00a0South Carolina with higher USDA income limits<\/h2>\n

[av_table purpose=’pricing’ caption=” responsive_styling=’avia_responsive_table’] [av_row row_style=’avia-heading-row’][av_cell col_style=”]County \/ Area[\/av_cell][av_cell col_style=”]Up to 4 Person Households[\/av_cell][av_cell col_style=”]5 or More Person Households[\/av_cell][\/av_row] [av_row row_style=”][av_cell col_style=”]Charleston SC[\/av_cell][av_cell col_style=”]$75,900[\/av_cell][av_cell col_style=”]$100,200[\/av_cell][\/av_row] [av_row row_style=”][av_cell col_style=”]North Charleston SC[\/av_cell][av_cell col_style=”]$75,900[\/av_cell][av_cell col_style=”]$100,200[\/av_cell][\/av_row] [av_row row_style=”][av_cell col_style=”]Charlotte Metro Area[\/av_cell][av_cell col_style=”]$78,800[\/av_cell][av_cell col_style=”]$104,000[\/av_cell][\/av_row] [av_row row_style=”][av_cell col_style=”]Concord Metro Area[\/av_cell][av_cell col_style=”]$78,800[\/av_cell][av_cell col_style=”]$104,000[\/av_cell][\/av_row] [av_row row_style=”][av_cell col_style=”]Gastonia Metro Area[\/av_cell][av_cell col_style=”]$78,800[\/av_cell][av_cell col_style=”]$104,000[\/av_cell][\/av_row] [av_row row_style=”][av_cell col_style=”]Hilton Head Island SC[\/av_cell][av_cell col_style=”]$80,300[\/av_cell][av_cell col_style=”]$106,000[\/av_cell][\/av_row] [av_row row_style=”][av_cell col_style=”]Bluffton SC[\/av_cell][av_cell col_style=”]$80,300[\/av_cell][av_cell col_style=”]$106,000[\/av_cell][\/av_row] [av_row row_style=”][av_cell col_style=”]Beaufort SC[\/av_cell][av_cell col_style=”]$80,300[\/av_cell][av_cell col_style=”]$106,000[\/av_cell][\/av_row] [av_row row_style=”][av_cell col_style=”]Beaufort County[\/av_cell][av_cell col_style=”]$80,300[\/av_cell][av_cell col_style=”]$106,000[\/av_cell][\/av_row] [\/av_table] \"Myrtle<\/p>\n

You can Exceed the USDA Income Limits<\/h2>\n

So now you know the USDA income limits for SC.\u00a0 But what if your income is higher than these limits?\u00a0 There could one of\u00a0five options that could help borrowers qualify when the household income is over the area limit.\u00a0 So, you can read these helpful tricks in our article \u201cHow to exceed the USDA Household Income Limits<\/strong><\/a>\u201c.<\/p>\n

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