Perhaps the only thing more exciting than buying your first, new home would be getting $6000 to help with the down payment and closing costs.
Beginning September 15, the South Carolina State Housing Finance and Development Authority (SC State Housing) will launch the SC Housing New Construction Initiative for qualified homebuyers in the state to purchase newly constructed homes. Funds may be used to help cover a down payment, closing costs and prepaid items.
The program hopes to not only help new homebuyers make the move to homeownership, but to help boost the building industry in South Carolina as well. “Homebuilders and the home construction industry mean jobs, revenue and stronger communities for our state,” said Mark Nix, Executive Director of the Home Builders Association of South Carolina. “When the home building industry does well, the whole economy benefits. We don’t just build houses; we build jobs, and we build communities.”
In addition to the $6000, the program offers a low, fixed 4% interest rate. Teachers, nurses, law enforcement officers, firefighter, veterans, correctional officers, and EMS workers may qualify for an even lower 3.5% interest rate through SC State Housing’s Palmetto Heroes program.
“Our homeownership programs are focused on driving economic development in South Carolina,” said SC State Housing Executive Director Valarie M. Williams. “This program will help the homebuilders create new jobs, real estate professionals make more sales and families and individuals build the equity that owning a home makes possible.”
Borrowers must meet SC State Housing income, home price and credit requirements. Details may be found by visiting www.SCHousing.com or calling SC State Housing at (803)-896-9009.
SC State Housing is self-sustaining and receives no state appropriations. For more information, visit www.SCHousing.com.