1.     Homeownership Program is a fixed-rate first mortgage loan for down-payment assistance designed for low-to-moderate income first-time homebuyers. If you become an eligible borrower, will be able to combine this program with a conventional first mortgage, FHA or USDA type of loan and get a very affordable, competitive interest rate and lower mortgage insurance costs.

Homeownership Program allows you to receive up to $5,000 for buying your first home in South Carolina. You are required to be above 80 % of the median income in your area to be eligible for the second mortgage, but if you are at or below the 80 % of the median income in your area, the loan is a forgivable second mortgage.

Homeownership Program allows you a maximum loan amount of up to $10,000 if you provide the necessary income documentation. The types of properties that qualify for this loan are: new and existing homes, town houses, and condominiums.

Homeownership Program requires you complete a pre-closing homebuyer education and earn a certification and the necessary knowledge as a homebuyer. The course is available both for in-person and online classes. You are also advised to contact a specialized lender who will guide you through the application and buying process.

 

2.     Extended Lock with Rate Float Down Option for New Construction Program is a down payment loan that provides an extended rate lock period for first-time homebuyers. If you qualify for this program, you are eligible to receive up to one float down to preserve affordability on your newly-constructed home.

Extended Lock with Rate Float Down Option for New Construction Program requires that you meet income limits and purchase price limits. You have to be above 80 % of the median income in your area to be eligible for the second mortgage, but if you are at or below the 80 % of the median income in your area, the loan is a forgivable second mortgage.

Extended Lock with Rate Float Down Option for New Construction Program allows you a maximum loan amount of up to $10,000 if you provide the necessary income documentation. The types of properties that qualify for this loan are: new and existing homes, town houses, and condominiums.

Extended Lock with Rate Float Down Option for New Construction Program requires you complete a pre-closing homebuyer education and earn a certification and the necessary knowledge as a homebuyer. The course is available both for in-person and online classes. You are also advised to contact a specialized lender who will guide you through the application and buying process.

 

3.     SC Mortgage Tax Credit is a dollar-for-dollar loan that allows borrowers credits that reduce the tax they owe. If you become eligible, you are allowed to benefit of a $2,000 credit. You have to meet income limits and qualify as a first-time homebuyer (requirement waived in some counties).

SC Mortgage Tax Credit requires you to pay a $ 700 fee, which covers the administration costs. Instead, the loan allows you to claim a federal tax credit for 30 % of the mortgage interest you paid the previous year (up to $2,000).

SC Mortgage Tax Credit requires you meet sales price limits and be a legal resident of the United States. The total income of the household includes all persons over 18 that intend to occupy the home within one year from loan closing.

SC Mortgage Tax Credit requires to keep your home for at least 9 years and use it as your primary residence, otherwise you will be subjected to a tax recapturing. However, this requirement is waived if you still meet the income guidelines when you sell in less than nine years.

SC Mortgage Tax Credit requires you complete a pre-closing homebuyer education and earn a certification and the necessary knowledge as a homebuyer. The course is available both for in-person and online classes. You are also advised to contact a specialized lender who will guide you through the application and buying process.