USDA Direct Loans (also known as USDA Section 502 Direct Loans) are a mortgage program that assists low- and very-low income individuals buy decent, safe, and clean housing in rural areas. This is done through payment assistance which increases a borrower’s ability to repay. That payment assistance can be best described a subsidy which lowers the mortgage payment for short periods. The amount of assistance largely depends on the adjusted family income. USDA Direct Home Loans in South Carolina don’t work in the same manner as USDA Guaranteed Loans in South Carolina. The USDA Guaranteed Loan Program is a more popular option and can be used for a wider range of applicant incomes.South Carolina USDA Direct Loans are 100% financing mortgages. Unlike Guaranteed USDA Loans, applicants must have low or very low income to qualify for Direct Loans.

South Carolina USDA Direct Loan Requirements

USDA Direct Loans are a mortgage program available for low-income individuals to buy homes in rural areas. USDA defines low- or very low income as anything between 50% and 80% of the Area Median (AMI). The statewide median income was recently reported as $53,199 in South Carolina, but this number may differ from one county to the next. For home buyers that meet those requirements, USDA Loans are a zero-down mortgage, meaning there’s no down payment. To be eligible, applicants must also meet the following requirements:

  • You don’t presently have decent, clean, sanitary and safe housing.
  • You can’t get another mortgage from a different source with terms and conditions reasonably expected to be met.
  • The subject property must be your primary residence.
  • You must be legally eligible for a mortgage.
  • You must meet citizenship requirements or non-citizen requirements.
  • You must be eligible for participation in federal programs.

In addition, the subject property must meet the following requirements.

  • It must be moderately-sized for that area.
  • The home cause can’t exceed the area’s applicable loan limit.
  • The home can’t be designed for the production of income.

How much can I borrow with a USDA Direct Mortgage?

Up to the maximum loan limit, the amount of money that an applicant’s eligible for depends on their ability to pay it back. When evaluating home loan applicants for Direct home loans, Rural Development considers income, assets, debt, and payment assistance. And remember, you can’t borrow more than the local USDA loan limit for the county where the home is located, no matter what your repayment ability may be.

What areas in SC are eligible for USDA Direct Loans?

The subject property must be in an approved rural area. You can search specific addresses in South Carolina for USDA eligibility here.

Are there other zero down mortgage options or low down payment mortgages in South Carolina?

Yes, other low down payment mortgage options, and no down payment mortgage options are available in South Carolina besides USDA Direct Loans. You can start by looking into USDA Guaranteed Loans in South Carolina, FHA Loan in South Carolina, or if you’re a veteran or qualified family member, VA Loans in South Carolina. You may also want to research if any helpful South Carolina down payment assistance programs may be available.

Search all USDA Guaranteed Loan Limits (Direct and Guaranteed Loans)
Learn about today’s USDA Loan Requirements

Direct Loans aren’t as popular as USDA Guaranteed Loans, which accommodate a wider range of borrower qualifications. The USDA sets specific maximum mortgage limits for Direct Loans in South Carolina. Search home loan limits for your area below.

South Carolina USDA Direct Loan Limits

Area
Direct Loan Limit
Abbeville $251,862
Aiken $251,862
Allendale $251,862
Anderson $251,862
Bamberg $251,862
Barnwell $251,862
Beaufort $280,600
Berkeley $310,960
Calhoun $251,862
Charleston $310,960
Cherokee $251,862
Chester $253,920
Chesterfield $251,862
Clarendon $251,862
Colleton $251,862
Darlington $251,862
Dillon $251,862
Dorchester $310,960
Edgefield $251,862
Fairfield $251,862
Florence $251,862
Georgetown $262,200
Greenville $251,862
Greenwood $251,862
Hampton $251,862
Horry $251,862
Jasper $280,600
Kershaw $251,862
Lancaster $253,920
Laurens $251,862
Lee $251,862
Lexington $251,862
Marion $251,862
Marlboro $251,862
McCormick $251,862
Newberry $251,862
Oconee $251,862
Orangeburg $251,862
Pickens $251,862
Richland $251,862
Saluda $251,862
Spartanburg $251,862
Sumter $251,862
Union $251,862
Williamsburg $251,862
York $253,920

More USDA Loan Resources

USDA Direct Loan Income Limits (Low Income)
USDA Direct Loan Limits (Low Income)

All USDA Loan Limits
All USDA Loan Income Limits
USDA Loan Requirements
USDA Loan Programs
USDA Loan Calculator

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