First-Time Home Buyer Agents in Myrtle Beach

Myrtle Beach is technically a buyer-friendly market right now -- 86 days median days on market, 2,511 active listings, and 812 new listings per month make it the most inventory-rich of the four South Carolina cities covered here. But that headline statistic conceals the most important fact for first-time buyers: much of that inventory is vacation condos and investment properties that are functionally unsuitable as primary residences. A $175,000 oceanfront condo with $900 per month in HOA fees costs more per month than a $280,000 single-family home in Carolina Forest. Many Myrtle Beach condo projects are also non-warrantable for FHA or conventional financing because investor and short-term rental concentration exceeds the 35-50% threshold that Fannie Mae and FHA allow. The first and most important move for a Myrtle Beach first-time buyer is identifying which property types and neighborhoods actually work with standard residential financing. SC Housing's statewide programs apply here. The Palmetto Home Advantage program provides forgivable down payment assistance of 0%, 3%, or 4% of the loan amount at 0% interest with no monthly payments, with a $135,750 to $137,500 income cap and a 640 minimum credit score. The Bond Program adds county-specific income and price limits (call SC Housing at 803-896-9001 for current Horry County limits). The Palmetto Heroes program opened March 2026 reservations offering $10,000 forgivable DPA for teachers, nurses, firefighters, EMTs, law enforcement, veterans, and active-duty military; it runs until funds are exhausted. The Mortgage Credit Certificate stacks on top, providing up to $2,000 per year in federal income tax credits. At a $325,000 median listing price with an FHA 3.5% down payment, you need roughly $11,375 down plus closing costs; Palmetto Home Advantage can cover most or all of that for qualifying buyers. The neighborhoods where first-time buyers can actually build equity are Carolina Forest (10-15 miles inland, $250,000 to $380,000 for single-family, best-rated schools in Horry County with River Oaks Elementary at 10/10 and Carolina Forest High at 7/10), Conway ($180,000 to $280,000, county seat with a revitalizing downtown and Conway Medical Center as a stable employer), Socastee ($220,000 to $330,000, established residential community between the beach and inland), and North Myrtle Beach's Little River and Longs areas ($200,000 to $370,000 with less tourist density and a more residential character). Two costs that catch Myrtle Beach first-timers off guard: coastal homeowners insurance runs higher than inland SC due to hurricane and wind exposure, and Horry County's property tax calculation uses a 6% assessment ratio for investment and secondary properties versus 4% for owner-occupied primaries -- make sure you establish primary residence to get the lower rate.

With a median home price of $320,000 and homes spending an average of 97 days on market, Myrtle Beach is a market where preparation and pricing are key. A first-time buyer specialist who knows the local landscape can make a meaningful difference in your outcome.