SC Housing’s new initiative supports first-gen homebuyers

COLUMBIA, S.C. – The South Carolina State Housing Finance and Development Authority (SC Housing) is launching a new initiative aimed at helping first-generation homebuyers with down payment assistance and homeownership education.

The goal of the First-Generation Homebuyer Program, which launches Wednesday, Oct. 15, is to provide would-be homebuyers whose parents have not owned a home with the opportunity to build wealth and stability through homeownership, helping to break generational barriers.

The program will provide qualifying first-generation homebuyers with $10,000 in down payment assistance and an enhanced, lower, fixed-interest rate. This pairing provides first-generation homebuyers with the ability to not just build equity in the present, but build a future for themselves and their families.

Loan rates for the First-Generation Homebuyer Program will be announced when the program launches on Oct. 15. For more information, homebuyers should contact one of the participating SC Housing lenders found at https://schousing.sc.gov/homebuyers/find-lender.

Additionally, SC Housing is augmenting a number of its other homebuyer programs.

The County First program – an initiative designed to provide potential homebuyers in underserved communities with resources when local economic conditions make homeownership difficult – is expanding to include 29 counties, including Beaufort, Cherokee, Chesterfield, Colleton, Darlington, Kershaw, Laurens, Orangeburg and Union.  

For more information, visit https://schousing.sc.gov/homebuyers/programs-homebuyers/county-first-initiative. 

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.