Eligibility: Targets first-time homebuyers (no homeownership in the past three years) or buyers in targeted counties; exceptions apply.
Benefits: Offers $6,000–$10,000 in forgivable assistance as a second mortgage (0% interest, forgiven after 15 years if not sold/refinanced).
Description: Offers 0%, 3%, 4%, or 5% forgivable DPA as a second mortgage based on income and loan type; available to both first-time and repeat buyers.
Benefits: Provides $10,000 in forgivable down payment assistance for eligible community heroes (forgiven after 15 years).
Charleston Down Payment Assistance: Offers up to $15,000 as a deferred loan (0% interest, due upon sale or refinance) for down payment and closing costs; income must be at or below 80% AMI (e.g., ~$66,750 for a family of four).
Columbia First-Time Homebuyer Program: Provides up to $12,000 as a forgivable loan (forgiven after 10 years) for down payment and closing costs; income capped at 80% AMI; targets revitalization areas.
CommunityWorks DPA: Offers up to $25,000 in forgivable assistance depending on income; 0% interest, forgiven after 5–8 years; targets low-to-moderate income homebuyers.South Carolina State Housing Finance and Development Authority (SC Housing) Programs:
SC Homebuyer Program:
Offerings: Provides a 30‑year fixed‑rate mortgage (FHA, VA, USDA, or conventional) with competitive rates; may include down payment assistance.
Requirements:
Forgivable Down Payment Assistance (DPA):
Eligibility: Must use an SC Housing first mortgage; income and credit requirements apply.
Palmetto Home Advantage:
More Info: Palmetto Home Advantage Program
Palmetto Heroes (2025):
Eligibility: Available to full-time educators, law enforcement, firefighters, EMTs, nurses, correctional officers, veterans, and active military.
More Info: Palmetto Heroes Program
Local Programs:
Charleston
Columbia
Greenville
More Info: CommunityWorks Homebuyer Assistance
Additional Information:
View First-Time Home Buyer Programs for: South Dakota