SC Housing’s homebuyer program honors ‘Palmetto Heroes’ with $10,000 in down payment assistance and low interest rates

COLUMBIA, S.C. (April 13, 2023) – The goal of homeownership can be challenging for many South Carolinians as home prices and interest rates continue to rise. 

SC Housing is bringing back the Palmetto Heroes Program on Monday, April 17 to help South Carolina residents who serve their communities achieve the dream of homeownership with down payment assistance and below market rate home loans. 

The Palmetto Heroes Program recognizes designated community service personnel, such as first responders, teachers, and more, who provide vital support to their community. This year, the 2023 Palmetto Heroes program will assist qualifying South Carolina teachers, nurses, law enforcement officers, correctional officers, fire fighters, emergency medical technicians, paramedics, veterans, active duty military, and SC guard members. 

Eligible Palmetto Heroes homebuyers can get a low, fixed-rate mortgage through SC Housing’s First-time Homebuyer Program, as well as $10,000 in forgivable down payment assistance. 

“There’s nothing that helps create generational wealth quite like homeownership and the Palmetto Heroes Program is one of our state’s best measures for helping our state’s heroes do that,” Steve Clements, director of SC Housing’s single-family programs said. “We’re proud to provide this program and help families attain this goal.” 

The program will be on available April 17 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 homebuyer 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. Visit our page for more information about the Palmetto Heroes program. For information regarding other SC Housing homeownership programs, contact SC Housing at 803.896.2211 or visit the agency’s website at schousing.sc.gov.

Media Contact: Matthew McColl
Marketing and Public Information Director
matthew.mccoll@schousing.com
803-896-9520

SC Housing is a self-sustaining housing finance agency committed to ensuring that South Carolinians have the opportunity to live in safe, decent and affordable housing. Agency operations are supported by a funding base that includes fees and other revenue earned through the administration of agency programs. For more information, visit SCHousing.sc.gov.