Richland County Home Ownership Assistance

The goal of the Richland County Home-ownership Assistance Program is to provide down payment and closing cost assistance to make home-ownership possible in unincorporated Richland County. 

Available Assistance 
Richland County Community Development, RCHAP program's priority is to make home-ownership opportunities available to low-to-moderate income households.  The assistance is given in the form of forgivable loans, up to $10,000 is available to be applied to down-payment and/or closing costs for the purchase of a single-family dwelling. The assistance will be provided as a deferred, forgivable, second mortgage. Approved applicants must live in the home for five (5) years from the time of closing for the loan to be forgiven. (If the applicant does not use the home as the primary residence for the five-year period, the assistance must be repaid based on a prorated formula.) The maximum Loan amount is up to $10,000 

Eligibility Requirements 

• Must be a resident of South Carolina 
• Cannot have a contract on a house until after completing program requirements 
• Must be qualified as a household of low to moderate income; our program uses the 80% limits (shown below) 
• Must be a single - family detached dwelling located in the unincorporated area of Richland County.  
• The selected properties must be built after 1978.  
• Each property must be able to pass a rigid inspection that will guarantee the home is livable, safe and does not require immediate repair. 
• Max purchase price: Existing home price: $155,000 & New Construction: $238,000 

Income Limits 
1-person household: $40,700 
2-person household: $46,500 
3-person household: $52,300 
4-person household: $58,100 
5-person household: $62,750 
6-person household: $67,400 
7-person household: $72,050 
8-person household: $76,700 

 
*Seller-funded down payment programs were eliminated in the Housing and Economic Recovery Act of 2008, but states and local government agencies are still permitted to help borrowers finance their homes with second mortgages and grants. These agencies set different requirements that a borrower needs to meet in order to qualify for the grant programs, such as property location, and purchase price, and income limits.        

Note: All figures mentioned above were accurate at the time of publication and may no longer be current. Visit the program website for updated information.