Greater Florence Habitat for Humanity Homeownership Program

What is Greater Florence Habitat for Humanity Homeownership Program?

Greater Florence Habitat for Humanity Homeownership Program is down payment assistance for homebuyers in Florence, South Carolina, administered by Greater Florence Habitat for Humanity.

• Greater Florence Habitat for Humanity builds homes with volunteer labor and sells them to income-qualified partner families using a 0% interest mortgage whose payment includes principal, taxes, insurance, and termite control. Applicants must live and/or work in the Greater Florence area for at least one year, earn 30%-60% of regional AMI, demonstrate need, complete the homeowner preparation program, and contribute 300+ sweat-equity hours. A sweat-equity / 0%-mortgage model, not a cash down payment grant.
• 0% interest mortgage.
• No-profit sale.
• Payment includes taxes/insurance/termite.
• Free homeowner preparation program.
• New build home.
• Funding comes from Donations, sponsorships, grants, homeowner mortgage payments, ReStore proceeds.

Do you have to pay it back?

Greater Florence Habitat for Humanity Homeownership Program is down payment assistance and is repaid under the terms set by Greater Florence 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.

Who qualifies?

Greater Florence Habitat for Humanity Homeownership Program is open to first-time homebuyers and buyers who will live in the home as their primary residence.

What are the income limits?

Greater Florence Habitat for Humanity Homeownership Program limits household income to 60% of the area median income, which varies by county and household size.

• Income between 30% and 60% of regional area median income.
• 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.

What kind of home can it be used for?

Greater Florence Habitat for Humanity Homeownership Program can be used for Single Family.

• New construction is eligible.
• Manufactured homes are not eligible.

Where does it apply?

Greater Florence Habitat for Humanity Homeownership Program serves buyers purchasing in Florence, South Carolina.

How do you apply?

Applications for Greater Florence Habitat for Humanity Homeownership Program go through Greater Florence Habitat for Humanity, which publishes the current terms and the application steps on its own site.

1. 1

   Take a homebuyer education course

   Required by the program before funds are reserved.

2. 2

   Contact Greater Florence Habitat for Humanity to reserve funds

   Funds are reserved with the provider and are subject to availability.

3. 3

   Work with a lender who handles the program

   Hey Prescott is not a lender and does not accept applications; this page describes the program so a buyer can take it to a lender or housing counselor.