South Carolina Jumbo Loan Guide
See what to ask about larger loans and the records a lender may need.
Explore jumbo loansDo You Need a Jumbo Loan or a Larger Down Payment?
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A South Carolina homebuying guide
Start with the amount you’ll borrow. Take your down payment off the home price, then compare the loan amount with the conforming limit for the property’s county and number of units. If the loan is above that limit, compare a jumbo loan with putting more down. Check how much cash each choice would leave you after closing.
2026 conforming loan limits by county and number of units
A conforming loan has to meet rules set for loans Fannie Mae or Freddie Mac can buy. One rule is the loan limit. A jumbo loan goes above that limit. Staying at or below the limit clears the size test. Your lender still needs to check whether you and the home qualify.
Start with the county on the property record. Then ask your lender to confirm how many units the property has. A single-family home is one unit. A duplex has two. The five counties below use the same limits in the 2026 federal county list.
- Beaufort
- For a home in Beaufort County, use the table below. If you’re looking across county lines, check the parcel before you run the numbers. Start with Beaufort County’s maps.
- Charleston area
- Check the parcel county even if the listing says Charleston. Charleston, Berkeley, and Dorchester counties use the same 2026 limits. The City of Charleston’s address map is a place to start.
- Hilton Head Island
- Use Beaufort County. If you’re buying a condo, give the lender the name of the complex as well as the address so they can check whether the condo project qualifies.
- Myrtle Beach
- Use Horry County for a property there. If you’re looking at a condo, ask if the lender can finance that building and the way you plan to use the home.
| Units | 2026 loan limit |
|---|---|
| 1 unit | $832,750 |
| 2 units | $1,066,250 |
| 3 units | $1,288,800 |
| 4 units | $1,601,750 |
If you’re buying elsewhere or your purchase could carry into a new year, use the FHFA’s current county list and ask your lender which year’s limit applies to your loan.
Let’s do the math on cash left after closing
Suppose you’re buying a one-unit home in Beaufort County for $1 million and have $220,000 in savings. To see what you’d have left, subtract the down payment and closing costs from your savings. This example uses $20,000 in closing costs for both options. Your actual costs can differ.
| What changes | Jumbo loan | At the limit |
|---|---|---|
| Down payment | $150,000 | $167,250 |
| Loan amount | $850,000 | $832,750 |
| Cash left after closing | $50,000 | $32,750 |
Putting $17,250 more down brings the loan to the conforming limit. It also leaves you with $17,250 less in savings. If that would leave your budget too tight, compare an available jumbo option, a lower offer, or a home at a lower price.
Decide how much cash you want to keep
Set aside money for moving, early repairs, and an emergency cushion before you commit more to the down payment. On a coastal home, get insurance quotes for the address. Ask what the policy covers, what you’d pay out of pocket if there’s a claim, and whether you need separate wind or flood coverage. The CFPB’s home budget guide walks through how to set a cash budget.
Ask how much money the lender wants you to show after closing. These funds are often called reserves. Ask which accounts can count, then set your own cash cushion based on what the home and your household will need.
Ask for a side-by-side loan comparison
Give the lender the address, price, unit count, how you’ll use the home, and what you can put down. Ask them to price both choices if you qualify. Use the same loan term and rate type where you can, and check whether each quote assumes you’ll pay points or get a lender credit.
Compare the monthly payment, upfront fees, and cash to close. Ask about any mortgage insurance and costs that won’t be in the payment, such as HOA dues. If one option costs more each month, weigh that against how much cash it would let you keep.
Questions buyers ask
Does a $1 million home always need a jumbo loan?
The loan amount decides. The one-unit example above stays at the conforming limit with $167,250 down. You and the home still have to meet the other loan rules.
Is a jumbo loan always more expensive?
Pricing can vary by lender and loan. Compare real offers, including the rate, fees, and how much cash you’ll need upfront.
What if I’m buying a second home or a condo?
Check the loan amount against the limit, then tell the lender how you’ll use the home and whether it’s in a condo project. Those details can affect which loans are available.
More help comparing your options
South Carolina Conventional Loans
Learn how down payments, mortgage insurance, and property type can affect your choices.
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See how the price, down payment, taxes, and insurance may change your budget.
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Tell us the home price, the county, and what you’d like to put down. We’ll help you compare what each option could cost and how much cash you’d have left after closing.
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