From staff reports
SC Housing continues to work to help Palmetto State residents who serve their communities achieve the dream of home ownership with down payment assistance and low-interest home loans through the Palmetto Heroes program.
The program recognizes designated community service members, such as first-responders, teachers, and others who provide vital support to their community. This year, the 2022 Palmetto Heroes program will assist qualifying South Carolina educators, law enforcement, corrections professionals, firefighters, emergency medical service personnel, licensed medical professionals, members of the U.S. Armed Services, S.C. Army National Guard and S.C. Air National Guard, and veterans.
Eligible Palmetto Heroes home buyers can get a low, fixed-rate mortgage through SC Housing’s First-time Home buyer Program, as well as $10,000 in forgivable down payment assistance. The program has helped more than 1,800 homeowners purchase homes in excess of $237 million over the past 15 years.
“At a time, when our state is experiencing mounting strains on our educators, programs like Palmetto Heroes helps to put home ownership in reach for those dedicated teachers whose paychecks are already stretched,” Steve Clements, Director of Single-Family Programs at SC Housing, said in a release. “Home ownership is one of the country’s most valuable tools to build wealth, and we are proud to help families attain this goal at a challenging time.”
The program is available on a first-come, first-served basis, and borrowers must have an executed sales contract on a home. Mortgage loans are for 30 years and are available through any of SC Housing’s network of more than 100 participating lenders statewide. Borrower(s) must meet SC Housing’s first-time home buyer requirements, as well as income requirements based on location and household size. The program may not be used for refinancing.
Each year, the program is in high demand and loan reservations are typically exhausted within a few months. For more information about the Palmetto Heroes program or other SC Housing home ownership programs, contact SC Housing at 803-896-2211 or visit www.schousing.com.
