Are you a first-time homebuyer in South Carolina? Explore a variety of programs, including down payment assistance and favorable mortgage options, designed to make homeownership more attainable for residents of the Palmetto State. Whether you're captivated by the charm of Charleston or the natural beauty of Hilton Head Island, this guide will provide you with the knowledge and resources to make informed decisions to navigate the South Carolina real estate market of with confidence and uncover unique opportunities.
State-Wide Programs
Program | Assistance Offered | Who Should Apply | Assistance Type |
---|---|---|---|
SC Housing: Mortgage Tax Credit (MCC) | Reduces up to $2,000 in mortgage interest that you pay into federal taxes for the life of your loan | First time homebuyers | Tax credit |
SC Housing: Palmetto Home Advantage | Up to 5% of home loan that can be used for down payment assistance | Any homebuyer that can meet income and credit score requirements | Forgivable, deferred loan with a 0% interest rate |
SC Housing: SC Homebuyer Program | Up to $7,000 in down payment and closing cost assistance | First time homebuyers that can meet income requirements | Forgivable, deferred loan with a 0% interest rate |
Regional Programs
County/Region | Program | Assistance Offered | Who Should Apply | Assistance Type |
---|---|---|---|---|
Abbeville, Allendale, Bamberg, Barnwell, Calhoun, Chesterfield, Clarendon, Colleton, Dillon, Edgefield, Fairfield, Georgetown, Hampton, Jasper, Lee, Marion, Marlboro, McCormick, Newberry or Williamsburg Counties | SC Housing: County First Initiative | Up to $8,000 in down payment assistance | Not specified | Forgivable loan |
Greenville County | CommunityWorks: Homebuyer Assistance Program | Up to $4,000 in down payment and closing cost assistance | First time homebuyers that can meet income requirements | Deferred, forgivable loan with a 0% interest rate |
Lexington County | Homeownership Assistance Program | Up to $5,000 in down payment and closing cost assistance | First time homebuyers that can meet income requirements | Deferred, forgivable loan with a 0% interest rate |
Richland County | Richland County Home Ownership Assistance | Up to $10,000 in down payment and closing cost assistance | Any homebuyer that is a resident of South Carolina and can meet income requirements | Deferred, forgivable loan with a 0% interest rate |
Richland, Lexington, Sumter | SC Housing: Hardest Hit Fund DAP | Up to $15,000 in down payment assistance | First time homebuyers that can meet income requirements | Deferred, forgivable loan with a 0% interest rate |
Spartenburg | Spartanburg County HOMEownership Program | Up to $5,000 in down payment, closing cost, and rehabilitation assistance | First time homebuyers that can meet income requirements | Second mortgage |
City Programs
City | Program | Assistance Offered | Who Should Apply | Assistance Type |
---|---|---|---|---|
Charleston | Housing Choice Vouchers: Home Ownership Program | Reduced monthly mortgage payments | First time homebuyers currently enrolled in the housing voucher program | Subsidy |
Florence | City of Florence Homebuyer Program | Down payment assistance - amount not specified | Homebuyers looking to build new home at Vista Place, Historic Pine, Old Carver Station or Sumter Station | Not specified |
Monroe | East Village New Home Pruchase | Up to $32,000 in down payment assistance | Eligible homebuyers who are looking for a new home in East Village subdivision on Old Monroe Pageland Road | $10k deferred loan, the rest repayable after first mortgage |
Monroe | Monroe Down Payment Assistance | Up to $7,500 in down payment assistance | Any homebuyer that is a resident of Monroe, South Carolina | Not specified |
Rock Hill | First-Time Homebuyer Program | Up to $5,000 in down payment and closing cost assistance | First time homebuyers that can meet income requirements | Deferred, forgivable loan with a 0% interest rate |
Rock Hill | Heros of Rock Hill Assistance Program | Up to $12,000 in down payment and closing cost assistance | Homebuyers that are currently employed as teachers, aides, nurses, CNAs, firefighters, vetrans, emts, national guard, paramedics, correctiosn officers, law enforcement, and can meet income requirements | Deferred, forgivable loan with a 0% interest rate |
Spartenburg | Home Purchase Assistance | Up to $5,000 in down payment and closing cost assistance | First time homebuyers that can meet income requirements | Deferred, forgivable loan with a 0% interest rate |
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