South Carolina · Annual tax credit

SC Mortgage Tax Credit

30% of interest = ~$2K/year tax credit

30% of annual mortgage interest as federal tax credit, up to $2,000/year for the life of the loan.

South Carolina's Mortgage Credit Certificate provides a 30% credit rate on annual mortgage interest, among the higher rates nationally. On a $250,000 mortgage at 6.5%, that translates to approximately $4,875 in federal tax credits in year one.

The MCC stacks with SC Housing's DPA programs for comprehensive benefits. South Carolina's 30% rate provides especially strong returns for buyers with larger mortgages in the state's more expensive Charleston and Hilton Head markets.

Amount30% of interest = ~$2K/year tax credit

TypeAnnual tax credit

Available inSouth Carolina

First-time buyer requiredYes

Minimum credit score640

Multi-unit eligibleSingle-family only