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Richland County Home Ownership Assistance

Richland County, South Carolina

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Income limit

80% AMI

Of area median income; varies by county and household size

Price cap

$273,000

Highest purchase price the program allows

Repayment

Forgivable

Forgiven after 5 years

What is Richland County Home Ownership Assistance?

Richland County Home Ownership Assistance is a forgivable loan for homebuyers in Richland County, South Carolina.

  • The Richland County Home-ownership Assistance Program (RCHAP), administered by the Richland County Community Development Office, provides down-payment and closing-cost assistance (or principal reduction) of up to $24,500 to income-eligible first-time homebuyers purchasing single-family detached homes built after 1978 in unincorporated Richland County. Funded by HUD HOME Investment Partnerships. The deferred forgivable second mortgage requires the buyer to live in the home as primary residence for 5 years; if the home is sold or no longer owner-occupied within that period, the assistance is repaid on a pro-rated basis. Buyers must attend a mandatory monthly orientation workshop to receive the application.
  • Deferred forgivable second-mortgage loan of up to $24,500 to assist with down payment and/or closing costs (or principal reduction) for income-eligible first-time homebuyers purchasing in unincorporated Richland County. 5-year affordability period.
  • loan is fully forgiven if buyer maintains the home as primary residence for 5 years. No monthly payments.
  • pro-rated repayment if owner-occupancy lapses.
  • Funding comes from HUD HOME Investment Partnerships Program; Federal.

Do you have to pay it back?

Richland County Home Ownership Assistance is forgiven after 5 years, so a buyer who stays that long does not repay it.

  • Repayment is triggered by Sale, transfer of title, conversion to non-residential use, or failure to maintain the home as primary residence for the full 5-year period triggers pro-rated repayment of the assistance. After 5 years the lien is released.
  • The assistance is recorded in 2 position.
  • Forgiveness and repayment terms are set by the program and can change — confirm them on the official program page before applying.

Who qualifies?

Richland County Home Ownership Assistance is open to first-time homebuyers and buyers who will live in the home as their primary residence.

The program requires

  • First-time homebuyer — with exceptions: First-time homebuyer requirement is waived if applicant has not owned property in the last 3 years.
  • The home is occupied as a primary residence
  • On credit: No published minimum FICO; lender underwriting standards apply (must secure mortgage independent of co-signer).
  • A completed homebuyer education course, through Richland County Community Development mandatory Homeownership Assistance Workshop (held monthly, capacity 75 attendees, no walk-ins, registration required); plus required HUD-approved homebuyer education course.
  • Residency: Applicant must be a resident of South Carolina. Property must be located in unincorporated Richland County.
  • Must be a resident of South Carolina. Cannot ratify a contract on a home until after completing program requirements. Must qualify as a low- to moderate-income household (HUD income limits). Must be a first-time homebuyer (or have not owned property for the last three years). Mandatory attendance at the monthly Richland County Homeownership Workshop to receive an official application; capacity 75, no children allowed due to limited capacity. Must secure a mortgage independent of a co-signer. Pre-approval letter must be within 30 days of issued date for application submission. No contract is to be ratified on a home without acceptance into the program.

The program excludes

  • Manufactured homes
  • Purchases above the $273,000 price cap
  • Households above 80% of area median income

These are the program's own published rules, not a decision about any individual — the administering agency and a lender determine who actually qualifies.

What are the income limits?

Richland County Home Ownership Assistance limits household income to 80% of the area median income, which varies by county and household size.

  • Maximum gross household income at or below 80% AMI for Columbia, SC HUD Metro FMR Area (Richland County), FY2025: 1p $51,950; 2p $59,350; 3p $66,750; 4p $74,150; 5p $80,100; 6p $86,050; 7p $91,950; 8p $97,900. Limits updated annually.
  • The limit applies to total household income, not only the borrower’s.
  • The program lists a maximum household size of 8.
  • 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?

Richland County Home Ownership Assistance caps the purchase price at $273,000.

  • Eligible property types include Single-family detached dwelling located in unincorporated Richland County, built after 1978.
  • New construction is eligible.
  • Manufactured homes are not eligible.

Where does it apply?

Richland County Home Ownership Assistance serves buyers purchasing in Richland County, South Carolina.

How do you apply?

Applications for Richland County Home Ownership Assistance go through the administering agency, which publishes the current terms and the application steps on its own site.

  1. Take a homebuyer education course

    Required by the program, through Richland County Community Development mandatory Homeownership Assistance Workshop (held monthly, capacity 75 attendees, no walk-ins, registration required); plus required HUD-approved homebuyer education course..

  2. Contact the administering agency to reserve funds

    Funds are reserved through Buyer must register for and attend a monthly Homeownership Assistance Workshop (registration opens about a month prior; capacity 75; no walk-ins). After workshop, buyer receives the official application; submit completed application to Community Development Office along with current pre-approval letter (within 30 days)., and are subject to availability.

  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.

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