SC Housing Homebuyer Program

Administered by: SC State Housing Finance and Development Authority · State · Forgivable Loan

Funding status: Active

How much assistance

Up to $10,000 in forgivable down payment assistance (Forgivable Loan)

Zero interest, no monthly payments. 15-year second lien term. Fully forgiven if borrower remains in the home for 15 years. Repayment required if sold, refinanced, or transferred before forgiveness period.

Eligibility

  • Income limits: Income limits vary by county. Spartanburg County limit: $84,800. Based on income of those on the loan application, not total household.
  • Purchase price limit: $425,000
  • First-time buyer required: Yes — Must not have owned a home in the past 3 years.
  • Credit score minimum: 640
  • Geographic restrictions: Must purchase in South Carolina. Property must be owner-occupied primary residence.
  • Homebuyer education required: Yes

How to Apply for SC Housing Homebuyer Program

Step 1: Work with an SC Housing approved lender. Complete a homebuyer education course. Lender submits application through SC Housing's system.

Visit program website

Cities Where This Program Is Available

Available Statewide In