The Clock Has Officially Stopped Ticking for Tax Credit Money, BUT...You've Still Got Options!!!  

$7000 From The State...

$5000 From Richland County...

$7500 From Homeowners Mortgage*

100% Financing From BB&T*

100% Rural Developement (for acreage)

THESE FUNDS MAY BE THE KEYS TO YOUR HOME BUYING SUCCESS!  YOU'VE SAT ON THE FENCE THIS LONG, WHAT ARE YOU WAITING FOR?  DON'T BE FOOLISH AN LOOSE OUT!

Samantha M. Taylor, Realtor

These incentives are reaching their deadlines, so here's what you need to know to get your chance at money to buy a home...

PALMETTO HEROES PROGRAM

(Only $40m in funds and program ends upon depletion of funds)

The Heroes selected for the 2010 initiative are “Police Officers – Fire Fighters – EMS - Teachers”. Borrower(s) must meet SC State Housing's first-time home buyer requirements. The program features a reduced mortgage interest rate and down payment assistance is available. Amount you receive is $7000 and the funding will be limited to $40 million. Loans are available on a first-come first-served basis and borrowers must have an accepted sales contract on a home prior to reserving funds.

 Police Officers – Borrower must be a full-time police officer with state or local government agency including correctional officers with the South Carolina State Department of Corrections

Fire Fighters and EMS - Borrower must be a full-time or volunteer fire fighter or EMS with a state or local government agency

Teachers - Borrower must have a South Carolina Teachers Certification and be employed as a classroom teacher or have a contract to receive a paycheck  begin teaching within 60 days of closing on the home.

INTEREST RATE –The fixed interest rate will be 5.125 (Forgiveable based on min. 5 years in newly purchased home)

RICHLAND COUNTY DOWN PAYMENT ASSISTANCE

(No determined expiration date yet)

MAXIUM LOAN AMOUNT

$5,000
 

ELIGIBLE APPLICANTS

• Must be a resident of Richland County
• Must be qualified as a household of low to moderate income (See HUD income guidelines)
• Must be employed. If applicant is not employed, he/she must provide income documentation supporting the following:
  
  Disability Benefits
  Social Security Benefits
  Other Retirement Benefits

ELIGIBLE PROPERTIES

Single family dwellings located in the unincorporated area of Richland County. New and existing homes, town houses, and condominiums are qualified properties if they were built after 1978. (Each property must be able to pass rigid inspection that will guarantee the home is livable, safe and does not require immediate repair.)

 

PROGRAM REQUIREMENTS

• Attend Program Orientation
• $100 Application Fee(Money Order or Cashier’s Check) No Personal Checks
• Attend home buyer training and home maintenance training

LOAN DESCRIPTION

The assistance will be provided in a five-year deferred forgivable loan. Approved applicants must live in the purchased property for five years (from the time of closing) for the loan to be forgiven. If the approved applicant does not stay in the home for the five-year period, the assistance must be repaid based on a prorated formula.

*Call or email me today to find out details of these programs!