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 |
|---|---|---|---|
| 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 | |
| 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 | |
| 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 | Up to $8,000 in down payment assistance | Not specified | Forgivable loan | |
| Greenville County | 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 | 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 | 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 | 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 | 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 | Reduced monthly mortgage payments | First time homebuyers currently enrolled in the housing voucher program | Subsidy | |
| Florence | 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 | 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 | Up to $7,500 in down payment assistance | Any homebuyer that is a resident of Monroe, South Carolina | Not specified | |
| Rock Hill | 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 | 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 | 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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