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.

Town of Bluffton Homebuyer Assistance Program is forgiven after 10 years, so a homebuyer 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.

Town of Bluffton Homebuyer Assistance Program is open to homebuyers who will live in the home as their primary residence. On credit, the program states: 620 minimum representative FICO across all borrowers per Community Works underwriting guidelines. A homebuyer education course is required, through Community Works HUD-approved homebuyer education and one-on-one counseling. Residency requirement: Property must be located within Town of Bluffton limits (Beaufort County, SC) and serve as borrower's principal residence. Citizenship or immigration status: U.S. citizen, permanent resident, or qualifying non-permanent resident alien per first-mortgage product overlays. Property must be located within Town of Bluffton limits (Beaufort County, SC). Owner-occupied principal residence. Household income $56,500-$280,900. 620 minimum FICO. HUD-approved homebuyer education required prior to closing. $1,000 minimum borrower contribution.

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.

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.

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.

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

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