08/02/2026
Need down payment assistance???
Last week I shared about SC Housing program for Rate reduction program. But maybe what you need is the down payment. This week I wanted to talk about SC housing Down Payment Options. For those who qualify, DOWN PAYMENT OPTIONS:
Forgivable Down Payment Assistance
SC Housing offers *Forgivable Down Payment Assistance (DPA) to all qualified borrowers. DPA may be used towards a borrower’s down payment, closing costs and/or prepaid items only. Borrowers must meet sales price and income limits, in addition to SC Housing’s first mortgage requirements. Available on new and existing homes.
This is a second mortgage with a fifteen (15) year term. The interest rate is zero and there are no monthly
payments. The borrower must occupy the subject property for the term (15 years) of the lien for the assistance to
be fully forgiven.
So, Let's say you qualify for the maximum price range for State housing, $450,000, and qualify for the DPA (down payment assistance), for an FHA loan requiring 3.5% down payment, the down payment would be $15,750, right???
NO! With State housing it would be $0.00, ZERO. Zero interest and Zero Payments. If you stay for 15 years, you never have to pay it back.
Another Bonus...SC homebuyer options have lower fixed rates.
I have included the information on the loan types, income and home prices.
If you are ready to go find your new home or have questions, give me a call 843-442-7773. I am available this weekend!
