South Carolina

South Carolina faces risks from hurricanes, flooding, severe storms, tornadoes, wildfires, extreme heat, winter storms, and earthquakes.

Grant Programs

Mitigation grant programs provide homeowners with funds to enhance their homes' resilience against storms and other natural hazards, such as wildfires and floods.

• SC Safe Home Mitigation Grant Program: The South Carolina Safe Home Program provides homeowners with grants and inspections to strengthen their homes against storms. It includes $3,000–$10,000 universal grants, means-tested grants for low-income households, matching grants, free wind inspections, and up to $5,000 for resilience upgrades, such as a FORTIFIED Roof. More Details.

Mitigation Insurance and Tax Incentives

Property owners, residents, and businesses can receive insurance discounts and tax breaks to build stronger to better withstand damage from natural hazards.

• FORTIFIED Discounts - Homeowners can qualify for insurance discounts by installing a FORTIFIED Roof or building a FORTIFIED Home™. Savings range from 10% to 35% off the wind portion of the property owner's insurance.17 insurers offer discounts. (Pages 5-6) More Details.
  
• Mitigation Insurance Discounts - Homeowners can save up to 25% off their insurance by making their home more "storm-resistant." FORTIFIED qualifies. (Page 3) More Details.
• Fortification Tax Credit - Residents can deduct up to $1,000 or 25% of the cost of making their home more hurricane-resistant. If any property was purchased to fortify a property, a resident can claim up to $1,500. FORTIFIED qualifies. More Details.
• Insurance Premium Tax Credit - Homeowners who pay more than 5% of their income towards insurance coverage on their primary residence can receive a tax credit of up to $1,250 on their state income taxes. More Details.
• Catastrophe Savings Account - Deposits made into an account labeled as catastrophe savings can be deducted from a taxpayer's gross income. More Details.
• FHLB Atlanta Affordable Housing Program (AHP): The Federal Home Loan Bank of Atlanta's Affordable Housing Program supports affordable housing projects through competitive grants, granting extra scoring points for FORTIFIED construction to strengthen storm resilience in housing developments. More Details.

"Really appreciated this class. Very rarely have I been in a CE class that actually teaches me something USEFUL for my team to offer to customers. Appreciate it!"

- Insurance Agent

Funding to Help Rebuild or Re-Roof

These federal and mortgage-backed programs may provide financing for disaster recovery, home repairs, energy upgrades, and rehabilitation, supporting homeowners, renters, and small businesses, particularly for those with low incomes or who are affected by disasters.

Small Business Administration Loans - Those affected by a disaster can rebuild stronger by increasing their SBA disaster assistance loan up to 20% of the verified physical damage to make mitigation improvements. There is no cost to apply, and you are under no obligation to accept a loan if approved.

• Generally, borrowers have two years after loan approval to request an increase for higher rebuilding costs, code-required upgrades, or mitigation.
  
• Call (800) 659-2955 and ask about increasing your loan for mitigation purposes, or visit sba.gov/disaster for more information.

Fannie Mae HomeStyle Renovation Loans - A mortgage that provides a simple and flexible way for borrowers to renovate or make home repairs with a conventional first mortgage, rather than a second mortgage, home equity line of credit, or other more costly methods of financing.​

Fannie Mae HomeStyle Energy Loans - A mortgage that helps lenders offer financing for homeowners to increase home energy efficiency and reduce utility costs.

• Both HomeStyle Renovation and HomeStyle Energy mortgages may be combined with a HomeReady® mortgage so that low-income borrowers can take advantage of flexible features and additional savings.

USDA- Single Family Housing Repair Loans & Grants - A loan program providing loans to very-low-income homeowners to repair, improve, or modernize their homes. Grants are also available for very-low-income elderly homeowners to remove health and safety hazards.

HUD 203(k) Loans - A loan program for rehabilitating and repairing single-family properties, allowing homebuyers and homeowners to finance both the purchase or refinancing of a house and the cost of its rehabilitation through a single mortgage, or to finance the rehabilitation of their existing home.

• The 203(k) program permits homebuyers and homeowners to finance up to $35,000 into their mortgage to repair, improve, or upgrade their homes.

HUD Mortgage Insurance for Disaster Victims - 203 (h) - Loan program for renters or homeowners if their homes are located in an area designated by the President as a disaster area and were destroyed or damaged to such an extent that reconstruction or replacement is necessary. These loans may be used to finance the purchase or reconstruction of a one-family home that will be the homeowner's principal residence.

• The borrower must submit their application to an FHA-approved lending institution within one year of the President's disaster declaration.

Resilience Policy and Legislation

Legislation and regulation are tools used to encourage and incentivize building to higher standards, thereby reducing losses and costs for property owners and residents.

• S*500 - The amended South Carolina law enhances the Hurricane Damage Mitigation Program by setting new grant criteria, introducing a nonmatching grant formula, and removing the grant cap. It enables the Department of Insurance to provide information that affects premium rates and requires insurers to notify the Director before withdrawing from the market. More Details. 
• SC 2024 H 3988: Provides funding for coastal resilience and flood mitigation projects. More Details.