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.

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.

Greater Florence 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: No published minimum; credit issues addressed via pre-purchase counseling. A homebuyer education course is required. Residency requirement: Live and/or work in Greater Florence area at least one year. Sweat-equity model: 300+ hours plus homeowner preparation program before closing. Assistance is the below-market 0% first mortgage on a home sold at no profit. Distinct from the city/subdivision-specific Florence CDBG programs already in the catalog. Habitat assistance_type 'other'.

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.

Greater Florence Habitat for Humanity Homeownership Program can be used for Single Family. New construction is eligible. Manufactured homes are not eligible.

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

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. 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.