How much do I need for a down payment on the Grand Strand?

Ask a lender to compare the loan programs you qualify for, including their down-payment and cash-to-close requirements. Check SC Housing's current programs for assistance eligibility and availability rather than assuming a particular amount or program applies to you.

Who handles closing in South Carolina?

South Carolina is an attorney-closing state — a real estate attorney conducts the closing and handles title. Your agent and lender coordinate with them.

Does it cost a buyer to use a real estate agent?

Compensation is negotiable. Review the services, fee, payment terms, and your responsibilities in the written buyer agreement. Do not assume the seller will pay; confirm any seller payment and any amount you would owe for the particular transaction.

What should I budget for besides the down payment?

Ask your lender for estimated closing costs and cash to close, and obtain property-specific estimates for insurance, taxes, association charges, utilities, and maintenance. Keep inspection and moving expenses visible so the purchase budget covers more than the advertised price.

Is a lender's appraisal the same as a home inspection?

No. An appraisal addresses the property's value for the lending process; a home inspection examines condition within the inspector's agreed scope. Ask your lender and inspector what each review covers and coordinate the timing with your contract deadlines.

Which documents should I gather once an offer is accepted?

Keep the signed contract and deadlines, lender requests, insurance quotes, inspection reports, and any association documents together. Ask your agent, lender, and closing attorney who owns each next step, and verify any payment instructions through a trusted contact method.

First-Time Home Buyer Guide: The Grand Strand, SC

The steps

1) Get pre-approved with a lender so you know your budget and can make strong offers. 2) Tour homes with an agent who knows the neighborhoods. 3) Make an offer and go under contract. 4) Inspections, appraisal, and your loan underwriting. 5) Close — in SC, closings are handled by a real estate attorney. We guide first-timers through every step.

Loans and down-payment help

FHA loans (low down payment), VA loans (for eligible veterans, often zero down), USDA loans (zero down in eligible rural areas — which includes parts of inland Horry County), and conventional loans are all common here. South Carolina also offers down-payment assistance programs through SC Housing for qualifying buyers. A good local lender will match you to the right one.

One coast, many different ways to live.Use the local details in this guide — location, property type, rules, timing, and trade-offs — to narrow what fits your move.

What to actually budget for

Beyond the price, obtain estimates for property taxes based on your intended use, homeowners and any flood or wind coverage, association dues and assessments, closing costs, and maintenance. Ask about application requirements for any tax treatment you expect, and get insurance quotes early enough to inform the purchase decision.

Common first-timer mistakes

Skipping pre-approval, falling for a house before checking flood information or HOA rules, underestimating insurance, and assuming representation has no cost can leave gaps in your plan. Discuss services and negotiable compensation in the written buyer agreement, and confirm any seller payment and your own payment responsibilities before relying on an arrangement.

Quick answers

Frequently asked

How much do I need for a down payment on the Grand Strand?: Ask a lender to compare the loan programs you qualify for, including their down-payment and cash-to-close requirements. Check SC Housing's current programs for assistance eligibility and availability rather than assuming a particular amount or program applies to you.
Who handles closing in South Carolina?: South Carolina is an attorney-closing state — a real estate attorney conducts the closing and handles title. Your agent and lender coordinate with them.
Does it cost a buyer to use a real estate agent?: Compensation is negotiable. Review the services, fee, payment terms, and your responsibilities in the written buyer agreement. Do not assume the seller will pay; confirm any seller payment and any amount you would owe for the particular transaction.
What should I budget for besides the down payment?: Ask your lender for estimated closing costs and cash to close, and obtain property-specific estimates for insurance, taxes, association charges, utilities, and maintenance. Keep inspection and moving expenses visible so the purchase budget covers more than the advertised price.
Is a lender's appraisal the same as a home inspection?: No. An appraisal addresses the property's value for the lending process; a home inspection examines condition within the inspector's agreed scope. Ask your lender and inspector what each review covers and coordinate the timing with your contract deadlines.
Which documents should I gather once an offer is accepted?: Keep the signed contract and deadlines, lender requests, insurance quotes, inspection reports, and any association documents together. Ask your agent, lender, and closing attorney who owns each next step, and verify any payment instructions through a trusted contact method.

What does a first-time home buyer need to know on the Grand Strand?