Town of Bluffton Homebuyer Assistance Program

What is Town of Bluffton Homebuyer Assistance Program?

Town of Bluffton Homebuyer Assistance Program is a forgivable loan for homebuyers in Bluffton, South Carolina.

• Place-based workforce housing program for the Town of Bluffton (Beaufort County). Up to $20,000 forgivable second over 10 years at 0% interest.
• The Town of Bluffton Homebuyer Assistance Program is a place-based DPA program administered by Community Works in partnership with the Town of Bluffton. Up to $20,000 in DPA is structured as a 0%-interest forgivable second mortgage, deferred and forgiven over 10 years of continued owner-occupancy. Property must be located within Town of Bluffton limits (Beaufort County). Wide household income band $56,500-$280,900 supports broad workforce housing access. Eligible loan products include FHA, VA, USDA-RD, and conventional.
• Funding comes from Local and CDFI.

Do you have to pay it back?

Town of Bluffton Homebuyer Assistance Program is forgiven after 10 years, so a buyer who stays that long does not repay it.

• Repayment is triggered by Forgiven over 10 years of continued owner-occupancy. Unforgiven balance due on sale, refinance, transfer, or non-owner-occupancy before 10 years.
• The assistance is recorded in 2nd Lien position.
• Forgiveness and repayment terms are set by the program and can change — confirm them on the official program page before applying.

Who qualifies?

Town of Bluffton Homebuyer Assistance Program is open to buyers who will live in the home as their primary residence.

What are the income limits?

Town of Bluffton Homebuyer Assistance Program limits household income to $280,900.

• 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?

Town of Bluffton Homebuyer Assistance Program caps the purchase price as follows: No CW-specific sales price cap; conforming loan limit applies via first-mortgage product.

• Eligible property types include Single-family detached, condominium, townhouse, PUD and manufactured home on permanent foundation per servicer overlays.
• New construction is eligible.
• Manufactured homes are eligible.

Is there eligibility for specific groups?

Town of Bluffton Homebuyer Assistance Program names veterans, active-duty service members, reservists and National Guard members, and surviving spouses among the groups it serves.

• Being named here means the program mentions the group, not that membership alone qualifies an applicant — the rest of the eligibility rules still apply.

Where does it apply?

Town of Bluffton Homebuyer Assistance Program serves buyers purchasing in Bluffton, South Carolina.

How do you apply?

Applications for Town of Bluffton Homebuyer Assistance Program go through the administering agency, which publishes the current terms and the application steps on its own site.

1. 1

   Take a homebuyer education course

   Required by the program, through Community Works HUD-approved homebuyer education and one-on-one counseling..

2. 2

   Contact the administering agency to reserve funds

   Funds are reserved through Application submitted directly to Community Works at time of pre-approval., 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.