Military and Veterans
VA loans in
Myrtle Beach.
By Devin Day, Operations Officer & licensed MLO · Chapter3 Realty · Updated August 14, 2026
0% down. No PMI. Reusable entitlement. Palmetto Heroes adds $10,000 in forgivable DPA for qualifying service members and veterans. Myrtle Beach is within driving distance of Shaw AFB, Fort Jackson, Fort Liberty, and Camp Lejeune.
Military and VA FAQ
What are the benefits of a VA loan in South Carolina?
VA loans offer 0% down payment, no private mortgage insurance, seller concessions up to 4% of the loan amount, and lifetime-reusable entitlement. There is no maximum loan amount with full entitlement. South Carolina also provides property tax relief for qualifying disabled veterans, which can significantly reduce annual carrying costs.
Can I use a VA loan on a condo in Myrtle Beach?
Yes, but the condo building must be on the VA-approved condo list. Not all buildings qualify. Your lender can check the VA approval status of any specific building. If a building is not approved, VA financing is not available for units in that building regardless of your eligibility. We check VA condo approval status on every building we show to veteran buyers.
What is the Palmetto Heroes program and who qualifies?
The Palmetto Heroes program through SC Housing provides $10,000 in forgivable down payment assistance plus a reduced interest rate for qualifying buyers. Eligible professions include teachers, nurses, law enforcement officers, corrections officers, firefighters, emergency medical service personnel, active-duty military, veterans, and National Guard members. Horry County is a targeted county, so you do not need to be a first-time buyer to qualify.
Is Myrtle Beach a good market for military retirees?
Yes. Myrtle Beach has a significant and growing military retiree population. The combination of no state tax on Social Security income, low property taxes on primary residences with the 4% owner-occupied rate, affordable housing relative to comparable coastal markets, and proximity to VA medical facilities at SC bases makes it one of the more financially favorable retirement destinations in the Southeast.
Can I use my VA loan more than once?
Yes. VA loan entitlement is reusable. If you have paid off a previous VA loan and sold the property, your full entitlement is restored. If you still have an active VA loan on another property, you may have remaining entitlement available for a second purchase. A VA-approved lender can check your Certificate of Eligibility to confirm your available entitlement.
Mistakes Military Buyers Make
Not checking VA condo approval before making an offer
VA financing requires that the condo building be on the VA-approved list. Many buyers make offers on condos, get emotionally invested, and then discover the building is not VA-approved. This forces a last-minute switch to conventional financing, often requiring a higher down payment or killing the deal entirely. Check VA approval before you tour any condo.
Combining VA loan with a DPA program without understanding the rate impact
The Palmetto Heroes DPA provides $10,000 but raises your interest rate by an average of 2 percentage points. On a VA loan that might otherwise qualify at 6.5%, the DPA-adjusted rate could be 8.5%. Before stacking a DPA program onto a VA loan, run both scenarios with your lender and compare the true total cost over your expected holding period.
Underestimating the VA funding fee
Most VA borrowers pay a VA funding fee at closing: 2.15% for first use with 0% down, 1.25% with 10%+ down, and 3.3% for subsequent use with 0% down. Disabled veterans with a service-connected disability rating are exempt. This fee can be rolled into the loan but adds to your total loan balance. Factor it into your total cost of purchase.
Not requesting property tax exemptions after closing
South Carolina property tax relief for disabled veterans does not apply automatically. You must apply through the Horry County Auditor's office after closing. Qualifying disabled veterans can receive a full property tax exemption on their primary residence. This application is easy to complete but is missed by many buyers who are not aware it exists.
Using your VA benefit here?
We will find homes and buildings that work for a VA buyer. The loan itself goes through our lending partner. We handle the real estate side.
South Carolina veteran benefits
What South Carolina offers veterans and military buyers
South Carolina has a large military and veteran community. Active-duty families move through Shaw Air Force Base near Sumter, Fort Jackson in Columbia, and Marine Corps Air Station Beaufort on the coast. Many veterans also retire to the Grand Strand for the beach, the milder winters, and a lower cost of living. If you have worn the uniform, you are far from alone here.
One benefit stands out for disabled veterans. South Carolina lets a veteran with a qualifying VA disability rating (a rating the VA gives for a health condition connected to military service) be exempt from property tax on their primary home. Property tax is the yearly tax the county charges on the home you own. For a veteran who qualifies, that yearly bill can drop to zero, which lowers the real cost of owning here for as long as you live in the home.
This exemption is not automatic. You have to apply for it, and the rules on who qualifies can change. Chapter3 Realty helps you confirm whether you qualify and points you to the right office and paperwork, so you do not leave this benefit on the table. If you are moving here from another state, our relocating guide covers the rest of the move.
How a VA loan works
What makes a VA loan different, in plain terms
A VA loan is a mortgage backed by the U.S. Department of Veterans Affairs. Backed means the VA promises the lender part of the loan if you cannot pay, so lenders can offer better terms. Here is what that means for you: The funding fee and the fees veterans never pay are itemized in our SC closing costs guide.
- Often zero down payment. Many eligible buyers can finance the full price of the home, so you do not need a large pile of cash saved up.
- No monthly mortgage insurance. Most loans with a small down payment add private mortgage insurance (PMI), an extra monthly cost the lender charges. VA loans do not have it.
- Competitive interest rates. Because the loan is backed by the VA, the rate is usually strong compared with other low-down-payment loans.
- A one-time VA funding fee. This is a fee the VA charges once. You can roll it into the loan instead of paying cash, and many veterans with a qualifying disability rating pay no funding fee at all.
- A benefit you can reuse. Your entitlement (the amount the VA will back for you) can be restored after you pay off and sell a home, so you can use a VA loan more than once.
The exact funding fee depends on your down payment and whether you have used the benefit before, so we confirm the current figure and your real numbers with you before you commit.
The VA appraisal
What the VA appraisal checks, and why it matters here
When you buy with a VA loan, the VA orders its own appraisal. An appraisal is a professional estimate of what the home is worth. The VA appraisal does two jobs at once. It confirms the home is worth the price, and it checks that the home meets the VA's minimum condition standards. Those standards come down to three plain ideas: safety, soundness (the structure is solid), and sanitation (working water, sewer or septic, and heat).
In practice, the appraiser looks for things like a roof with real life left in it, working heating, electrical, and plumbing, and no peeling paint on older homes (older paint can contain lead). On the Grand Strand, this matters most in two common cases:
- Older homes. A worn roof, an aging heating and cooling system, or peeling paint can get flagged, and the seller may need to fix it before the loan can close.
- Coastal condos. A VA loan on a condo usually requires the whole building to be on the VA-approved list. If the building is not approved, you cannot use VA financing there, no matter how well you qualify.
None of this should scare you off a home. It just means we plan for it. We check a building's VA approval and flag likely repair items before you write an offer, so the appraisal does not catch you off guard.
How Chapter3 helps
How Chapter3 Realty helps VA buyers on the Grand Strand
Chapter3 Realty has a preferred lender, BrickWood Mortgage (NMLS #189497). Because the agent and the VA loan team work at the same company, they talk to each other directly instead of passing messages between separate firms. For a VA buyer, that coordination shows up in a few concrete ways:
- We know the buildings. We check which Grand Strand condo buildings already hold VA approval before you tour, so you do not fall for a place you cannot finance.
- We write offers with the appraisal in mind. We word the contract so the VA appraisal and any repair items are handled in a way that protects the deal.
- We line up your paperwork early. We help you request your Certificate of Eligibility (the VA document that proves you qualify) and confirm whether you qualify for the funding-fee waiver, so nothing stalls at the last minute.
Start with a short call. We will confirm your benefits, walk through your numbers, and build a shortlist of homes and buildings that work for a VA buyer. See our buyers hub for the wider picture, or the relocating guide if you are buying from out of state.
See our Affiliated Business Arrangement disclosure in the footer for how the Chapter3 Realty and BrickWood Mortgage relationship works. You are free to choose any lender.
Common Questions
Frequently asked questions
Can VA loans be used in Myrtle Beach?
Yes. VA loans work for primary residences across the Grand Strand, including many condos, and the military community around Market Common uses them heavily.
Do VA loans require a down payment?
No down payment is required for eligible borrowers with full entitlement, and the VA funding fee can be financed into the loan. Veterans with qualifying disability ratings are typically exempt from the funding fee.
Can I use a VA loan for a condo?
Yes, if the project is VA-approved or becomes approved during the purchase. Many Grand Strand buildings already hold approval, and others can be submitted for review.