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2021 FHA Loan Limits in South Carolina

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The federal government has set the maximum FHA loan limit in South Carolina to between $356,362 in most parts of the state, and up to $414,000 for higher-cost areas for a single-family home. FHA limits vary by county.

Whether you want a home in a quaint town with Southern charm, on a beach or near a bustling city, this may be the perfect time to buy in the Palmetto State. And thanks to the Federal Housing Administration (FHA), some South Carolina residents can qualify for federally backed loans to help get them into a new house with lower credit score and down payment requirements. This year, current and aspiring South Carolina homeowners will be able to borrow even more with an FHA loan.

South Carolina FHA loan limits by county

FHA Loan Limits in South Carolina
County Name One-Family Two-Family Three-Family Four-Family Median Sale Price
Abbeville $356,362 $456,275 $551,500 $685,400 $104,000
Aiken $356,362 $456,275 $551,500 $685,400 $215,000
Allendale $356,362 $456,275 $551,500 $685,400 $27,000
Anderson $356,362 $456,275 $551,500 $685,400 $225,000
Bamberg $356,362 $456,275 $551,500 $685,400 $47,000
Barnwell $356,362 $456,275 $551,500 $685,400 $55,000
Beaufort $379,500 $485,800 $587,250 $729,800 $330,000
Berkeley $414,000 $530,000 $640,650 $796,150 $360,000
Calhoun $356,362 $456,275 $551,500 $685,400 $180,000
Charleston $414,000 $530,000 $640,650 $796,150 $360,000
Cherokee $356,362 $456,275 $551,500 $685,400 $98,000
Chester $356,362 $456,275 $551,500 $685,400 $304,000
Chesterfield $356,362 $456,275 $551,500 $685,400 $104,000
Clarendon $356,362 $456,275 $551,500 $685,400 $139,000
Colleton $356,362 $456,275 $551,500 $685,400 $140,000
Darlington $356,362 $456,275 $551,500 $685,400 $150,000
Dillon $356,362 $456,275 $551,500 $685,400 $28,000
Dorchester $414,000 $530,000 $640,650 $796,150 $360,000
Edgefield $356,362 $456,275 $551,500 $685,400 $215,000
Fairfield $356,362 $456,275 $551,500 $685,400 $180,000
Florence $356,362 $456,275 $551,500 $685,400 $150,000
Georgetown $356,362 $456,275 $551,500 $685,400 $265,000
Greenville $356,362 $456,275 $551,500 $685,400 $225,000
Greenwood $356,362 $456,275 $551,500 $685,400 $120,000
Hampton $356,362 $456,275 $551,500 $685,400 $55,000
Horry $356,362 $456,275 $551,500 $685,400 $235,000
Jasper $379,500 $485,800 $587,250 $729,800 $330,000
Kershaw $356,362 $456,275 $551,500 $685,400 $180,000
Lancaster $356,362 $456,275 $551,500 $685,400 $304,000
Laurens $356,362 $456,275 $551,500 $685,400 $225,000
Lee $356,362 $456,275 $551,500 $685,400 $28,000
Lexington $356,362 $456,275 $551,500 $685,400 $180,000
Marion $356,362 $456,275 $551,500 $685,400 $91,000
Marlboro $356,362 $456,275 $551,500 $685,400 $45,000
Mccormick $356,362 $456,275 $551,500 $685,400 $237,000
Newberry $356,362 $456,275 $551,500 $685,400 $119,000
Oconee $356,362 $456,275 $551,500 $685,400 $165,000
Orangeburg $356,362 $456,275 $551,500 $685,400 $90,000
Pickens $356,362 $456,275 $551,500 $685,400 $225,000
Richland $356,362 $456,275 $551,500 $685,400 $180,000
Saluda $356,362 $456,275 $551,500 $685,400 $180,000
Spartanburg $356,362 $456,275 $551,500 $685,400 $165,000
Sumter $356,362 $456,275 $551,500 $685,400 $139,000
Union $356,362 $456,275 $551,500 $685,400 $36,000
Williamsburg $356,362 $456,275 $551,500 $685,400 $25,000
York $356,362 $456,275 $551,500 $685,400 $304,000

How are FHA loan limits determined?

The U.S. Department of Housing and Urban Development (HUD) sets limits on how expensive a house the FHA will insure in each county in the United States. These limits are set based on the current year’s conforming loan limit — or how large of a mortgage Fannie Mae and Freddie Mac will purchase. In 2021, that conforming limit is $548,250, up roughly $38,000 from 2020’s limit of $510,400.

The FHA “floor” is the largest mortgage the agency will issue in most of the country and is 65% of the conforming loan limit. In 2021, the FHA floor is set at $356,362, an increase of about $24,600 above the 2020 limit of $331,760.

The FHA “ceiling” is a higher limit that only applies to high-cost areas. This is set at 150% of the conforming loan limit, or $822,375 for single-family homes. With a few exceptions, this is generally the largest mortgage amount the agency will insure for a single-family home. In many parts of the country, loan limits fall somewhere between the FHA floor and ceiling.

Outside of the lower 48 states, FHA maximum loan limits are higher because of more expensive construction costs. These include the special exception areas of Alaska, Hawaii, Guam and the U.S. Virgin Islands.

Here are the 2021 standard FHA limits for all property types:

  • One-unit: $356,362
  • Two-unit: $456,275
  • Three-unit: $551,500
  • Four-unit: $685,400

Here are the 2021 standard FHA limits for high-cost areas:

  • One-unit: $822,375
  • Two-unit: $1,053,000
  • Three-unit: $1,272,750
  • Four-unit: $1,581,750

Do you qualify for an FHA loan in South Carolina?

FHA loans are a great deal for qualified buyers, thanks to lower down payments and closing costs. Find out if your credit score and income will help you qualify for one of these loans.

 

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