South Carolina Down Payment Assistance Programs

South Carolina down payment assistance programs
South Carolina down payment assistance programs

There are many South Carolina down payment assistance programs currently available to SC residents. Some are government funded, and some are not; some are urban, some are rural. It all depends on a few factors such as what your total family income is, what your financial needs are and the area in which you would like to end up.

The most helpful advice is to do your diligence in research. The State Housing Finance and Development Authority (http://www.schousing.com/First-Time_Home_Buyers) has an option for first time buyers. This program offers recipients a down payment assistance of $5,000 with a 4 1/2% interest rate.

Family Services Incorportated (http://www.fsisc.org/topic.asp?pid=108) also has a down payment and closing cost assistance program which is referred to as DPCCA. Their website gives the list of available help and the requirements on how to qualify and apply for each.

The U. S. Department of Housing and Urban Development (http://portal.hud.gov/hudportal/HUD?src=/states/south_carolina/homeownership/buyingprgms) gives a list on their webpage of a number of different South Carolina down payment assistance programs with which they are affiliated with in some way. Options range from down payment assistance to community based government grants, with which individuals may have the chance to apply for assistance with through their local housing authority office. More information may be found of the website listed above. GMAC Real Estate has put together a very helpful resource (http://freedownpayment.org/SC. html) for individuals searching for South Carolina down payment assistance programs. Their website connects residents with locally based professional real estate agents who focus on helping first time home buyers match up with qualifying state, city and county funded down payment assistance programs. Credit isn’t necessarily the first thing lenders look at, especially in relation to available South Carolina down payment assistance programs. Their main focus is on making South Carolina a safer and more comfortable place to reside.

South Carolina Down Payment Assistance Programs:

South Carolina Housing Agencies: