Program guide
What to know before you click through
This is still the free fact layer. Open the official source when a detail affects eligibility, repayment, lender choice, or whether this path should stay on your shortlist.
Who qualifies?
Qualified South Carolina homebuyers using an approved lending partner, Borrowers using conventional, FHA, VA, or USDA guaranteed financing, First-time homebuyers in non-targeted counties, Veterans and targeted-area buyers who can use the live exceptions to the usual first-time-homebuyer rule
What support do you get?
Current SC Housing materials describe a Mortgage Credit Certificate rather than a cash grant or second mortgage. Qualified buyers can claim a federal income tax credit equal to 30% of annual mortgage interest, capped at $2,000 per calendar year.
Do you repay it?
The MCC is a federal tax credit rather than a repayable loan. Eligible homeowners claim the credit when filing federal taxes, subject to continued owner-occupancy of the home as a primary residence and federal tax rules. Current program materials also warn that federal recapture-tax rules may apply if the home is sold within the federal recapture window.
How do you apply?
Work with one of SC Housing's approved lending partners to reserve the MCC together with an eligible first mortgage, close the certificate on the same day as the first mortgage, and expect the approved lender to submit the file through SC Housing's lender system. The certificate costs $500, and participating lenders may charge up to a $500 processing fee.
Application timing
SC Housing says MCC files are reviewed on a first-come, first-served basis within 3 to 5 business days after receipt. Lenders should submit early enough for corrections, must not close before SC Housing approval, and the conditional commitment generally expires 60 days after issuance unless extended before expiration.
Official source evidence
Current SC Housing materials say the MCC provides a federal income tax credit equal to 30% of annual mortgage interest up to $2,000 per year, costs $500 plus a possible lender processing fee, and may be used with conventional or government financing but not with SC Housing's bond program.
View official source
Last verified
2026-04-22
Effective date not captured.
Paid preview
What paid access adds for SC Mortgage Tax Credit Program
See the shape of the comparison output, risk checks, lender questions, and next-step checklist before you decide whether this program is worth carrying into the paid layer.
Example paid output for this program. The free page stays visible either way.
Comparison preview
SC Mortgage Tax Credit Program
Amount: Current SC Housing materials describe a Mortgage Credit Certificate rather than a cash grant or second mortgage. Qualified buyers can claim a federal income tax credit equal to 30% of annual mortgage interest, capped at $2,000 per calendar year.
Repayment: The MCC is a federal tax credit rather than a repayable loan. Eligible homeowners claim the credit when filing federal taxes, subject to continued owner-occupancy of the home as a primary residence and federal tax rules. Current program materials also warn that federal recapture-tax rules may apply if the home is sold within the federal recapture window.
First-time buyer: Varies
Timing: SC Housing says MCC files are reviewed on a first-come, first-served basis within 3 to 5 business days after receipt. Lenders should submit early enough for corrections, must not close before SC Housing approval, and the conditional commitment generally expires 60 days after issuance unless extended before expiration.
Risk checks preview
What gets flagged before you call a lender
- SC Mortgage Tax Credit Program requires a participating lender.
- SC Mortgage Tax Credit Program must be paired with a specific first mortgage.
Lender questions preview
Questions tied to this exact path
- Is your team approved to originate SC Mortgage Tax Credit Program for this household and loan setup?
- Which first-mortgage product must be paired with SC Mortgage Tax Credit Program, and what breaks eligibility?
Action checklist preview
What you would do next
- Review the official Program page for SC Mortgage Tax Credit Program
- Ask whether your lender is approved for this exact program and loan structure.
