SC Housing Made It Home! Program

SC Housing Made It Home! Program is a forgivable loan for homebuyers in South Carolina, administered by South Carolina State Housing Finance and Development Authority (SC Housing). SC Housing's Made It Home! Program provides up to $25,000 in forgivable down payment and closing cost assistance to eligible homebuyers purchasing one of 130 newly constructed affordable single-family homes built by five SC Housing-approved builders across South Carolina. The program pairs buyer DPA with builder subsidies to expand affordable workforce housing inventory. Cannot be combined with other SC Housing DPA programs, but may be layered with FHLB DPA as a third lien. Up to $25,000 forgivable DPA as a zero-interest second mortgage, fully forgiven after 10 years if buyer remains in home as primary residence. Compatible with FHA, VA, USDA, and Conventional first mortgages (or SC Housing Bond first mortgage). Funding comes from SC Housing agency reserves (initial phase); future phases contingent on SC Legislature appropriations.

SC Housing Made It Home! Program offers between $25,000 and $25,000 in assistance. Award tiers: Made It Home! DPA: $25,000, 10-year forgivable second mortgage, 0% interest, no monthly payments; repayable upon sale/refinance/loss of primary residency before maturity. Homebuyer contribution: No stated minimum borrower contribution beyond AUS/insurer requirements. The program can be combined with Federal Home Loan Bank (FHLB) DPA as third lien. Cannot stack with other SC Housing DPA products. Amounts are the program's published maximums, not an offer — South Carolina State Housing Finance and Development Authority (SC Housing) determines any individual award.

SC Housing Made It Home! Program is forgiven after 10 years, so a homebuyer who stays that long does not repay it. Repayment is triggered by Sale, refinance, or property no longer primary residence prior to 10-year maturity. The assistance is recorded in 2nd position. Forgiveness and repayment terms are set by the program and can change — confirm them on the official program page before applying.

SC Housing Made It Home! Program is open to homebuyers who will live in the home as their primary residence. On credit, the program states: 640 minimum FICO for all borrowers (when using SC Housing Bond first mortgage). A homebuyer education course is required, through HUD-approved counseling agency; Fannie Mae HomeView; Freddie Mac CreditSmart; any NIS or HUD-approved MI company course. Citizenship or immigration status: US Citizen or Permanent Resident Alien with valid Green Card (I-551); VISA holders not eligible under SC Housing Bond. Home must be from one of five SC Housing-approved builders (D.R. Horton, Gainey Construction Co., Housing Development Corporation of Rock Hill, McGuinn Homes, Oak and Ave Property Group). Homes must be completed before purchase. Cannot combine with other SC Housing DPA. FHLB DPA may be layered as third lien. DPA loan term: 10-year forgivable second mortgage at 0% interest, no monthly payments; full repayment due upon sale, refinance, or loss of primary residency before maturity. Subordination of DPA not permitted.

SC Housing Made It Home! Program limits household income to $135,000. Area median income figures are published by HUD and updated annually, so check the current table for the county before relying on a number.

SC Housing Made It Home! Program caps the purchase price at $200,000. Eligible property types include single_family. New construction is eligible. Manufactured homes are not eligible.

SC Housing Made It Home! Program serves homebuyers purchasing anywhere in South Carolina.

Applications for SC Housing Made It Home! Program go through South Carolina State Housing Finance and Development Authority (SC Housing), which publishes the current terms and the application steps on its own site. Funds are reserved through SC Housing Lender Online (lol.schousing.com). 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.