Central South Carolina Habitat for Humanity Homeownership Program

Central South Carolina Habitat for Humanity Homeownership Program is down payment assistance for homebuyers in Columbia, South Carolina, administered by Central South Carolina Habitat for Humanity. Central South Carolina Habitat for Humanity (Midlands Habitat) builds and rehabilitates homes across Richland and Lexington Counties, then sells them at no profit to qualified low-income homebuyers using a 25-year, 0% interest mortgage. Buyers are selected by a volunteer committee on need, willingness to partner, and ability to repay; monthly payment is capped at 25% of gross monthly income. A sweat-equity / 0%-mortgage model, not a cash down payment grant. 0% interest mortgage. No-profit sale. Payment capped at 25% of gross income. 25-year term. Financial counseling. New or rehabbed home. Funding comes from Donations, sponsorships, grants, homeowner mortgage payments, ReStore proceeds.

Central South Carolina Habitat for Humanity Homeownership Program is down payment assistance and is repaid under the terms set by Central South Carolina Habitat for Humanity. The assistance is recorded in First position. Forgiveness and repayment terms are set by the program and can change — confirm them on the official program page before applying.

Central South Carolina Habitat for Humanity Homeownership Program is open to first-time homebuyers and homebuyers who will live in the home as their primary residence. "First-time homebuyer" usually means not having owned a home in the last three years, but the program sets its own definition. On credit, the program states: Selection by need, willingness to partner, ability to pay; financial counseling provided. A homebuyer education course is required. Residency requirement: Serves Richland and Lexington Counties. Sweat-equity model: 300 hours plus financial counseling and homebuyer education before purchase. Assistance is the below-market 0% first mortgage on a home sold at no profit. Habitat assistance_type 'other'.

Central South Carolina Habitat for Humanity Homeownership Program sets its income limit as follows: Income-qualified families in need; selected on ability to repay an affordable mortgage (Richland & Lexington Counties). The limit applies to total household income, not only the borrower’s. Area median income figures are published by HUD and updated annually, so check the current table for the county before relying on a number.

Central South Carolina Habitat for Humanity Homeownership Program can be used for Single Family. New construction is eligible. Manufactured homes are not eligible.

Central South Carolina Habitat for Humanity Homeownership Program serves homebuyers purchasing in Columbia, South Carolina. The program targets specific areas: Neighborhood Revitalization target neighborhoods where Habitat builds.

Applications for Central South Carolina Habitat for Humanity Homeownership Program go through Central South Carolina Habitat for Humanity, which publishes the current terms and the application steps on its own site. Hey Prescott is not a lender and does not accept applications; this page describes the program so a homebuyer can take it to a lender or housing counselor.