South Carolina First Time Home Buyer Programs

South Carolina First Time Home Buyer Programs

Are you thinking of buying your first property in South Carolina? Would you like a free gift of money to help you purchase that first home? If you answered yes to these two questions, there is great news for you. The state of South Carolina provides programs for its residents who are first time home buyers and need help with the down payment and closing costs. This funding comes in the form of state grants for South Carolina residents that fall under certain income limits. This is free money that shouldn’t be passed up! The grant awards can be in the thousands of dollars. Also, there are several programs available in certain cities and counties of South Carolina. It will be well worth your time to educate yourself about the programs that the State of South Carolina provides.

South Carolina First Time Home Buyer Grant Programs

The agency in South Carolina that provides funding and grant assistance to home buyers is the South Carolina Housing Finance and Development Authority. There are a few varieties of grants available, depending upon your income. You can get a Down Payment Assistance Loan for up to $4,000, depending upon income. This loan can be completely forgiven if you live in your home for 5 years, which makes it effectively a grant. To find out more about which assistance or incentive programs you may qualify for, please visit the South Carolina Housing Finance and Development Authority website page specifically describing the varieties of grant programs. You can go to that page by navigating to this page.

The 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.

Down Payment Assistance of $4,000 is available for all first time borrowers qualifying in the Category II income limits and home price limits. The $4,000 Assistance consists of a $4,000 Forgivable Second Mortgage. The assistance can be used for the down payment, closing costs or pre-paid costs in the purchase of a single-family dwelling.

Here is the contact information for the South Carolina Housing Finance and Development Authority:

South Carolina State Housing Finance and Development Authority
300-C Outlet Pointe Blvd.
Columbia, South Carolina 29210
Main Phone: (803) 896-9001
TTY: (803) 896-88


Local Programs Throughout South Carolina

In addition to the various home buyer programs described above, the U.S. Department of Housing and Urban Development provides home buyer assistance and grants in every state. There are multiple grant programs designed specifically for people that meet certain requirements, such as grants for people with disabilities so they can continue to live independently at home. It is worth visiting HUD’s website to see what assistance is currently available. For your convenience, simply go to this website.

Here is the contact information for the HUD office in South Carolina:

Columbia Field Office
Strom Thurmond Federal Building
1835 Assembly Street
13th Floor
Columbia, SC 29201-2480
Phone: (803) 765-5592
Fax: (803) 765-5925

There are also these local programs:

Richmond County United Black Fund of the Midlands/Columbia Housing Authority Homeownership Program (HOP) (803) 256-0207

Rock Hill Joint Venture Affordable Housing Corporation Down Payment & Closing Cost Assistance Program (803) 329-8719

The Housing Development Corporation of Rock Hill (HDCRH), formerly known as Rock Hill Joint Venture for Affordable Housing (1989-2006), is a nonprofit organization that was formed by local government and community leaders to help low to moderate income residents with their housing needs through education and financial assistance. The HDCRH’s purpose is to strengthen the Rock Hill community, especially the urban core, by improving housing and economic opportunities. The Corporation provides resources and information for homeowners, as well as helpful guidance in the home buying process.
The housing programs are federally funded through the Community Development Block Grant (CDBG) Program, HOME Investment Partnerships Program, and the State’s Housing Trust Program.”

Spartanburg County HOMEownership Program (HOP) (864) 596-2416

“Home Ownership Program – $9,929 will be used for down payment and closing cost assistance to low-to-moderate income families County-wide.”

About Jennifer Cribsly

I'm a former real estate broker who specialized in helping first time buyers be able to purchase a home. Now full time mom, part time real estate owner/investor.
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