South Carolina - Government Backed Loans

The South Carolina State Housing Finance and Development Authority administer a number of Federal and State programs directed at low and low-to-moderate income South Carolinians. Their programs assist families and neighborhoods and help stimulate the economy by supporting jobs in the construction, real estate, and financial industries.

Purchase Programs

Single Parent Program

The Single Parent Program enables homebuyers who are the head of single-parent household and have at least 1 dependent under the age of 18 to purchase a home. First-time homebuyer requirements are waived in this case, and various interest rates and downpayment assistance options which coincide with the homebuyer's income are available.

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Individual or Family Disability Program

The Individual or Family Disability Program offers homebuyers the opportunity for homeownership at affordable, low-interest mortgages. First-time homebuyer requirements are waived with this program, and various interest rates and downpayment assistance options which coincide with the homebuyer's income are available.

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Extended Lock Program with Rate Float Down Option for New Construction

The Extended Lock Program offers first-time homebuyers the ability to secure a fixed-rate home loan for home that is under construction. This is takeout loan to be used toward a construction loan, and not a construction loan itself, and is registered for 180 days with the option for a 90 day extension if necessary. The Float Down Option enables borrowers to obtain a one-time rate float down to South Carolina Housing's current interest rate.

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First-Time Home Buyers in Non-Targeted Counties

This program offers first-time homebuyers various downpayment assistance and loan amount options, which are calculated according to the homebuyer's income.

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Home Buyers in Targeted Areas

Home Buyers in Targeted Areas waives the first-time homebuyers requirements if purchasing a home within one of the state's designated Target areas. Various downpayment assistance and loan amount options, which are calculated according to the homebuyer's income, are available with this program.

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