South Carolina Down Payment Assistance Grants For 1st Time Buyers

The South Carolina State Housing Finance and Development Authority (SCHFDA) offers a down payment assistance grant for first time home buyers whose income is a at or below 80 percent of the median state income.




South Carolina First Time Home Buyer GrantsThe South Carolina State Housing Finance and Development Authority has various loan programs that may help you buy a home. Interest rates are competitive and depending on your income, there is down payment/closing cost assistance available to assist you in purchasing a home with little or no out of pocket funds. The major benefits to home buyers are lower interest rates and reduced mortgage insurance rates that allow you to have a more affordable monthly payment and save thousands of dollars over the life of a mortgage.

The South Carolina first time home buyer grant is available to 1st time property purchasers throughout the state whose income is a at or below 80 percent of the median state income. The grant starts out as a loan that takes the form of a $5,000 forgivable second mortgage. There is a a 10 year term and zero interest. There are no monthly payments. After 10 years, the loan is forgiven and in effect turns into a grant.

To find out more about this program, visit the SCHFDA web page here, view the fact sheet here, or cant the SCHFDA directly at:

South Carolina State Housing Finance and Development Authority
300-C Outlet Pointe Blvd.
Columbia, South Carolina 29210
Main Phone (803) 896-9001
Telecommunications Device for the Deaf (TDD) (803) 896-8831

First-Time Home Buyers Program

(803) 896-9009