Loan Programs As Of 12/15/13
*  15-30 Year Conventional – Fixed Rates, Most require 5% down and require mortgage insurance until 80% Loan to Value
*  State Housing Loan – $4,000 Forgivable Grant w/ 30 Year Fixed Rates. Buyers must not have owned a home in last 3 years.
*  USDA Housing Loan – 100% Financing, 30 Year Fixed Rate, Property must qualify – http://eligibility.sc.egov.usda.gov/
*  FHA Loan – 3.5% down payment required with funding fee rolled in, 30 year fixed rate with mortgage insurance required.
*  VA Loans – 30 Year Fixed Rate, 100% Financing with no Mortgage Insurance. Must be active or retired military.

Home Buying Assistance Programs

*  Hometown Heroes – State Housing Program for community professionals such as teachers, police officers, firefighters, and nurses offering forgivable grants
*  Lexington/Richland County Grants-  Down payment assistance offered by the counties to help buyers purchase homes

* 2-1 Matching Grant – Matches buyer contributions in forgivable loans to first time buyers.

 

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