Public Servants Eligible for $10K Housing Help
South Carolina public service workers can now apply for down payment assistance through the state’s Palmetto Heroes Program, which offers $10,000 in forgivable assistance to help qualified buyers purchase homes.
The program, administered by SC Housing, opened March 16 and provides eligible participants with a combination of down payment assistance and low, fixed-interest mortgage loans. Funding is available on a first-come, first-served basis.
The Palmetto Heroes Program is aimed at workers in professions considered vital to local communities, including teachers, nurses, law enforcement officers, correctional officers, firefighters, emergency medical technicians, paramedics, veterans, active-duty military and National Guard members.
Participants may obtain financing through SC Housing’s First-time Homebuyer Program and must have an executed sales contract to secure the down payment assistance
“We want those who care for our communities to have the opportunity to live and build equity in the same communities they serve,” SC Housing Executive Director Robert Macdonald said.
The program provides 30-year mortgage loans through a network of more than 100 lenders across the state and is subject to income limits and first-time homebuyer qualifications.
SC Housing officials say the program has historically been one of the agency’s most popular homeownership initiatives. Last year’s funding allocation was largely exhausted soon after the program opened.
For buyers who do not qualify for the Palmetto Heroes Program, SC Housing offers other homebuyer programs throughout the year that may include low fixed-rate loans and optional down payment assistance.
More information about the program is available at schousing.sc.gov or by calling SC Housing at 803-896-2211.
