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City of Florence First-Time Homebuyers Program

Administered by:

City of Florence Department of Community Services
· City · Forgivable Loan

Funding status: Active

How much assistance

Up to 20% of purchase price (maximum $20,000)

Forgiven after 10 years of owner-occupancy as primary residence.

Eligibility

  • Income limits:
    Must meet income eligibility requirements (low to moderate income)
  • First-time buyer required: Yes —
    Must be a first-time homebuyer.
  • Geographic restrictions:
    Must purchase in targeted areas of North, Northwest, or East Florence.
  • Homebuyer education required: Yes

How to Apply for City of Florence First-Time Homebuyers Program

Step 1: Attend a monthly informational meeting at City Center (324 West Evans St.), complete a homebuyer education class, get pre-approved by a bank or mortgage lender, provide at least $500 of your own funds toward the purchase, and submit your application to the City of Florence Department of Community Services. Call (843) 665-3175 for details.

Notes

Down payment and closing cost assistance provided as a deferred, forgivable second mortgage. Funds available on a first-come, first-served basis. $25 nonrefundable application fee required.

Cities Where This Program Is Available