Updated June 2026 · Mike Certo, NMLS #260555

South Carolina Mortgage Programs

Cornerstone First Mortgage originates South Carolina mortgages through Mike Certo and his team of seasoned South Carolina-licensed loan officers. Below is the full menu of programs we run for South Carolina buyers, each one explained briefly with the key facts. For program-specific eligibility, income limits, FICO requirements, or to talk through your scenario, request more information below or call (480) 296-6513.

By Mike Certo, NMLS #260555 · Updated August 2026

South Carolina Down Payment Assistance

Cornerstone is approved for both South Carolina state-level DPA programs and the major national DPA options. We run the full menu. SC Housing (South Carolina State Housing Finance and Development Authority) statewide programs plus national programs that work in South Carolina (Chenoa Fund, Arrive Home, Essex/NHF). For amounts, credit floors, and 2026 funding status, see our South Carolina down payment assistance programs guide.

South Carolina state DPA programs

• SC Housing Homebuyer (Bond) Program: First-time and qualified buyer first mortgage with DPA pairing options.
• SC Housing Forgivable DPA: Forgivable down payment assistance for SC Housing first mortgage borrowers.
• Palmetto Home Advantage Program: SC Housing conventional and government first mortgage program with DPA.
• SC Housing MCC: Mortgage Credit Certificate, federal tax credit on mortgage interest.

National DPA programs (also available for South Carolina buyers)

• Chenoa Fund: FHA-paired DPA with both repayable and forgivable structures depending on income/credit profile.
• Arrive Home: national DPA for low-to-moderate income buyers, with an ITIN borrower path we see used by Greenville and Charleston families.
• Essex Mortgage / NHF: multi-tier DPA pairing for FHA, VA, USDA, and conventional buyers, workable in Columbia, Rock Hill, and the Myrtle Beach market.

One DPA program per transaction. Specific eligibility (income limits, purchase-price caps, FICO thresholds, occupancy, FTHB status) varies, request more information for your specific scenario.

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Buy Before You Sell (BBYS)

Bridge financing for the Mount Pleasant or Greenville move-up buyer who needs to close on the next home before the current one sells. It removes the contingency from the offer, which is why Charleston listing agents call this the deal-saver. Cornerstone's BBYS program lets the buyer write a clean offer; we underwrite the bridge on the equity in the existing Lowcountry or Upstate home plus the new purchase.

• Common scenario: A Contract Contingent on Buyer Sale (CCBS) offer in a hot Daniel Island or Fort Mill submarket where the seller won't accept a contingency; BBYS removes it.
• Process: We underwrite the bridge alongside the new purchase mortgage and close concurrently or near-concurrently.
• Audience: Move-up buyers plus the Charleston and Spartanburg listing agents who want their CCBS deal to actually close.

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Self-Employed Loans

Tax returns underrepresent self-employed income because of legal deductions. Standard underwriting punishes that. We run the alternative paths for Greenville and Spartanburg business owners and Charleston contractors: bank-statement loans (12 or 24 months), 1099 loans, and asset-qualifier loans that qualify on liquid assets without showing income.

• Bank statement loans: A Mount Pleasant restaurant owner or Columbia consultant qualifies on 12 or 24 months of business deposits with expense-factor adjustments, not deposit gross.
• 1099 loans: For Rock Hill contractors, Myrtle Beach gig workers, real estate agents, and other 1099-only earners, qualifying on documented 1099 income.
• Asset-qualifier loans: Qualify a Kiawah retiree or business seller on liquid assets (cash, brokerage, retirement) divided over an asset-utilization period.

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Jumbo & Medical Professionals

Loan amounts above conforming limits: full doc, alt doc, super jumbo (above $2M), plus the standout Medical Professionals program. For Kiawah and Daniel Island physicians and dentists, that program reaches up to 100% LTV with NO PMI across a specific list of credentialed medical roles. South Carolina has substantial jumbo markets in Charleston (Mt. Pleasant, Daniel Island, Kiawah) and Greenville/Spartanburg, and Medical Professionals is a frequent path for doctors at MUSC, Prisma Health, Roper St. Francis, and Bon Secours.

• Medical Professionals eligible: MD, DO, DDS, DMD, DPM, DVM, PharmD, Ophthalmology MD/DO, Psychiatry MD/DO, CRNA with DNAP/DNP.
• Up to 100% LTV at $1.5M with FICO 680; 100% at $2M with FICO 720; 95% at $2M with FICO 680.
• Student loan exclusion: Deferred and IBR student loans excluded from DTI for MUSC and Prisma Health residents and fellows qualifying on resident/fellow income.

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Investor & DSCR Loans

For investors buying rental property in Charleston, Myrtle Beach, and Greenville. A DSCR loan qualifies on the property's rental income, not your personal tax returns, which is what makes it work for a Horry County landlord adding a fourth door. We finance below a 1.0 DSCR ratio, so sub-1.0 deals in Columbia or Spartanburg still have a home on our investor menu. Short-term-rental products are built for Myrtle Beach and Folly Beach Airbnb / VRBO owners.

• DSCR loans: A Charleston triplex qualifies on its rental income versus its debt service, not your personal income.
• Below 1.0 DSCR: Sub-1.0 scenarios on a Greenville or Rock Hill rental are on our investor menu; bring us the specific deal and request more information.
• Short-term rental specific: Airbnb / VRBO-targeted DSCR products with underwriting built for Myrtle Beach and Hilton Head STR income.

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First-Time Home Buyer Loans

FHA, USDA, conventional with low down payment, and SC Housing DPA-paired structures. Built for the Columbia or Rock Hill buyer with real-life income and credit, not a perfect-paper applicant.

• FHA: 3.5% down, 580+ FICO published (620+ practical overlay), a common Spartanburg first-home path.
• USDA: Zero down in USDA-eligible areas outside the Charleston and Greenville metros, such as much of Aiken and the rural Pee Dee.
• Conventional 97: 3% down, 620+ FICO, often the cleaner option for a Mount Pleasant buyer over the income limits.

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If you're not sure which program fits

Call (480) 296-6513 for a free consult, or send your scenario through the form below. Mike and his team read every Charleston, Greenville, and Myrtle Beach file directly and respond shortly: no commitment, no salesy follow-up, just an honest read on what's possible.