It’s Giving Tuesday!

It’s Giving Tuesday!

And Why You Should Give Yourself a Shot at Your First Home

Giving Tuesday is always a fun day!

We had a chance to host a real estate seminar at The Pickle Bar in Summerville, SC a few days ago. Diapers, Pelican plushies, stickers, goodies, and a donation check- all donated to Lowcountry Orphan Relief.

My feathered brethren, off to new homes! But you know what they say about giving and charity: it always starts closer to home than we think. And sometimes the first act of charity you can make is giving yourself a little grace.

For a lot of first-time homebuyers, most of them millennials and Gen Zs, there's a tendency to self-disqualify before even trying. Maybe my credit's not good enough. I don't have enough saved. I'll never get approved. You know… that kind of self-defeating talk.

If you’re one of those people, please, oh please, listen to this old Pelican for a second: in the spirit of Giving Tuesday, you have to give yourself a shot in this whole house-buying process.

Charleston Wants You to Live Here

We've said it before, and we'll say it again: Charleston actually wants you here.

The region is growing fast, about 34 new residents move here every day, and builders like the one we partnered with for the seminar, David Weekley Homes, are putting up new construction just to keep up with demand.

And there's also the misconception that Charleston is mainly for retirees. Sure, the coastal charm and relatively mild winters attract a lot of older folks, but the reality is vastly different. Charleston's median age is just 36, and the metro area is home to nearly 200,000 people aged 25 to 44.

So it makes sense that both the city and the state have programs designed specifically to help first-time buyers get into homes. The young'uns can have a shot at home ownership too.

Here's a quick rundown of what's available:

City of Charleston First-Time Homebuyer Program

If you're planning on buying a house within Charleston city limits, this should be the first program you look into. The city offers up to $20,000 in down payment and closing cost assistance. It's a zero-interest loan, and if you stay in the home as your primary residence, it's forgiven over 20 years. You don't have to pay anything back.

There are a few caveats, though. The program is designed for buyers earning between 50% and 120% of the area median income, and you can't have owned a home in the last three years.

SC Housing Homebuyer Program

Now we're moving to statewide options. The SC Housing Homebuyer Program offers forgivable down payment assistance with 0% interest and no monthly payments. It's structured as a second lien that gets forgiven over 15 years if you stay in the home.

A great thing about this program is that you can pair it with FHA, VA, USDA, or conventional financing. It's available across all of South Carolina, which of course includes Charleston County.

Palmetto Home Advantage Program

Now, if you're a moderate-income earner, there's a program for you too. The Palmetto Home Advantage is flexible. No first-time buyer requirement, no sales price cap, and it works across all 46 counties. It offers forgivable down payment assistance and reduced mortgage insurance costs.

The major thing to note is that, since it's designed for moderate-income households, it has a statewide income limit of $137,500.

SC Mortgage Tax Credit

This isn't a grant, but it's still valuable to be featured in this list. The SC Mortgage Tax Credit is a Mortgage Credit Certificate (MCC) program that gives eligible buyers a federal tax credit equal to 30% of the mortgage interest paid each year, up to $2,000 annually.

So let's say you paid $8,000 in mortgage interest this year. Thirty percent of $8,000 is $2,400, but the program caps it at $2,000. So when you file your taxes this year, you owe $2,000 less.

And you can claim it every year for the life of the loan (it’s not a one-time thing), as long as you own the home, pay interest on the mortgage, and have tax liability.

Palmetto Heroes

If you're a teacher, nurse, law enforcement officer, firefighter, EMT, paramedic, veteran, or active-duty military, there's a huge chance you've heard of the Palmetto Heroes Program. It offers $10,000 in down payment assistance along with low, fixed-rate mortgage loans.

We're at the tail end of 2025, and unfortunately the 2025 round already closed back in May due to overwhelming demand. It lasted only about six weeks before the funds ran out, and around 300 heroes managed to get help buying their first homes.

Anyway, because it's been such a popular program year after year, there's a good chance SC Housing will bring it back for 2026. If you're in one of these professions, make sure to keep your eyes on SC Housing's website early next year.

When the program opens, it moves fast – so be ready with a lender and a home in mind.

What About USDA?

Is it possible to get 100% financing with zero down payment, you might ask?

And the answer is an overwhelming yes.USDA is the way to go.

There's a big misconception that USDA loans are only for farmland or way out in the country. But that is not true. About 62% of Charleston County is USDA-eligible. There are various areas around Summerville, Moncks Corner, Ridgeville, Hollywood, and parts of Johns Island that can qualify.

And if qualified, that means you’ll pay zero down payment if you meet the income guidelines. These limitations are quite strict though.For the Charleston metro area in 2025, those limits are:

• 1-4 person household: up to $93,150

• 5-8 person household: up to $122,950

You'll also need a credit score of at least 640 (some lenders accept lower with manual underwriting), and your total monthly housing costs can't exceed 29% of your gross monthly income.

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Give Yourself a Chance

So you see, our young Pelicans, there are a lot of help and resources out there for first-time homebuyers. More than enough to keep even the wobbliest webbed feet steady and ready to build their first nest.

We had such a great time at our Giving Tuesday seminar at The Pickle Bar last week., So if you're interested in more events like this, we'd love to have you. It's all part of our Pelican Cares initiative – our philanthropic "wing" that aims to help our community members in need fly high.

And if you've been sitting on the sidelines, give yourself a shot. Reach out to us about buying a home the smart way.