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It all adds up.
Low interest rates
+$5000 down payment assistance
+$8000 tax credit=
A great time to buy a home!

If you have been thinking of buying your first home, July may be the month to make that dream a reality. The availability of homes for sale throughout South Carolina is high. Builders have more homes to sell, foreclosures have increased inventory and new homes enter the market every day. Many sellers are willing to make deals like never before. Likewise interest rates are low and stable. The South Carolina State Housing Finance and Development Authority is here to help you buy that home you’ve wanted for so long. Our interest rates are competitive.  Better yet, they are fixed at the low rate for the life of your loan.

If you think you can’t put together enough money to make the down payment, think again. In addition to our low interest rate we can also give you $5,000 toward your down payment and closing costs.

Don’t wait. If you buy your home between now and December 1, the federal stimulus package will sweeten the deal by giving a tax refund up to $8,000 over and above the down payment assistance. Home buyers can get a refundable $8,000 tax credit on next year's return. If you don't want to wait, amend your 2008 return to get your money before January by filing IRS Form 1040-X.

And don’t let a low credit score keep you from considering homeownership. SCSHFDA can often qualify borrowers with a credit score at or above 620.

The SCSHFDA has a number of tools to help you make your decision. Current interest rates, a mortgage calculator and a list of lending partners who can help you decide the loan that is right for you can all be found at our website under the First Time Homebuyers button.