2017 SC FHA Loan Size Limits by County

By
Mortgage and Lending with Team Move OVM Financial NMLS # 78989

SC FHA Loan Size Limits

The Federal Housing Administration or FHA, announced the 2017 SC FHA loan size limits in all areas of each state.  Most of the SC FHA loan size limits increased from $271,050 to $275,650.  But there are some counties which have higher limits.  So make sure that you check these limits when considering an FHA loan.

Team Move frequently lends FHA loans throughout the Myrtle Beach and Horry County SC area.  Horry County’s FHA limit also increased to $275,650 for 2017.

FHA loans are known for flexible guidelines, affordable monthly payments, and low cash to close.  Many unknown, but valuable features include:

  1. Gift, down payment assistance, and other flexible down payment sources
  2. Up to 55% debt ratios allowed
  3. Non-occupying coborrowers
  4. As low as 600 credit scores
  5. Previous foreclosure, bankruptcy, or short sale allowed
  6. 1 year commission income often ok
  7. Seller paid costs up to 6% of sales price
  8. Low down payment condo loans
  9. Manufactured homes and modular home financing
  10. Renovation loans for home improvements

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.

So if using an FHA loan, check out these limits.  Then compare your approximate loan amount with the corresponding FHA loan size limits.

2017 SC FHA loan limits

Standard 2017 SC FHA Loan Size Limits:

  • One-Family Homes = $275,650
  • Two -Family Homes = $352.925
  • Three-Family Homes = $426,600
  • Four-Family Homes = $530,125

See the above map for higher FHA loan limits

 

 

Using My Experience to Build Realtors & Loan Officers Brand & Business

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Buyers interested in qualifying for an FHA loan, contact one of our loan officers!

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

Posted by

Russell Smith - Your Mortgage Lending Expert

NMLS # 78989

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South Carolina
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fha loan limits

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Rainmaker
3,561,791
Gita Bantwal
RE/MAX Centre Realtors - Warwick, PA
REALTOR,ABR,CRS,SRES,GRI - Bucks County & Philadel

It is important for buyers and agents to know about the limits. Thanks for sharing.

Dec 18, 2016 04:46 AM #1
Rainmaker
3,047,624
Joan Cox
Metro Brokers - House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

Russell, nice to know what the new loan limits are in South Carolina.  Ours went up nicely too.

Dec 18, 2016 08:41 AM #2
Rainmaker
71,592
Russell Smith
Team Move OVM Financial - Wilmington, NC
Team Move Creator - Ask me your tough questions!

Thank you for the comments.  Expanding limits for more affordable financing is a great thing!

Dec 19, 2016 04:01 AM #3
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Rainmaker
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Russell Smith

Team Move Creator - Ask me your tough questions!
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