Homebuyer Assistance Program
Available Assistance
This program will provide up to $5,000 in down payment and/or closing cost assistance to qualified low- and moderate-income first-time homebuyers. Assistance will be provided on a first-come, first-served basis in the form of a deferred, forgivable loan, which requires pro-rated repayment if the applicant sells or no longer occupies the house as their primary residence within five years of the grant award.
Eligibility Requirements
Qualifying homebuyers must be employed, provide requested income documentation, and must participate in the County's Affordable Housing Counseling and Education Program. They must also be first-time homebuyers who have not owned a home three years prior to applying.
Property Guidelines
Any property purchased with program funds must serve as the applicant’s primary residence and must be located within the County of Lexington (Batesburg, Batesburg-Leesville, Cayce, Chapin, Gaston, Gilbert, Irmo, Leesville, Lexington, Oak Grove, Pelion, Pine Ridge, Red Bank, Seven Oaks, South Congaree, Springdale, Summit, Swansea, or West Columbia). The sales price must not exceed the single-family dwelling limit of $146,000 for an existing home or $227,000 for a new home (95% of the median area’s purchase), and the property must appraise for at least the purchase price. The property selected for purchase must meet, at a minimum, Section 8 Housing Quality Standards (HQS). The County of Lexington will have a professional inspector examine all homes to determine compliance with quality standards.
Income Limits
1-person household: $38,600
2-person household: $44,100
3-person household: $49,600
4-person household: $55,100
5-person household: $59,550
6-person household: $63,950
7-person household: $68,350
8-person household: $72,750
Note: All information mentioned above was accurate at the time of publication and may no longer be current - visit the program website for updated information.
First-Time Homebuyer Programs in South Carolina
Homebuyer Assistance Program
South Carolina's Homebuyer Assistance Program helps potential homeowners purchase their first home by providing up to $5,000 in down payment and/or closing cost assistance.
SC Housing Homebuyer Program
South Carolina's Homeownership Program offers a competitive, fixed-interest rate mortgage to income-eligible first-time homebuyers in order to help make homebuying more affordable.
First-time homebuyer assistance programs and/or grants were researched by the team at FHA.com. Please note that all programs listed on this website may involve a second mortgage with payments that are forgiven, deferred, or subsidized in some manner until resale of the mortgaged property.
FHA.com's compilation is not a complete list, but it can serve as a starting point in your search for the down payment assistance program or grant for your situation. It is up to the consumer to contact these entities and find out the specifics of each program.
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