Palmetto Heroes Lending Program – Opens April 17th
The Palmetto Heroes Lending Program is a program designed to assist individuals and families in South Carolina in purchasing a home. The program is offered by the South Carolina State Housing Finance and Development Authority (SC Housing), and it provides eligible homebuyers with low-interest loans and down payment assistance.
The Palmetto Heroes Lending Program was established in 2005 to help teachers, law enforcement officers, firefighters, and emergency medical technicians (EMTs) purchase a home. However, the program has since been expanded to include veterans and active-duty military personnel, as well as nurses and other healthcare professionals.
The down payment assistance is provided as a forgivable loan, which means that the homebuyer does not have to repay it as long as they continue to occupy the home for a certain number of years. To be eligible for the Palmetto Heroes Lending Program, homebuyers must meet certain income and purchase price limits.
One of the unique features of the Palmetto Heroes Lending Program is that it allows homebuyers to choose their own lender. This means that homebuyers can work with a lender that they feel comfortable with and that offers the best terms and conditions.
The Palmetto Heroes Lending Program has helped thousands of South Carolinians achieve their dream of homeownership. By offering low-interest loans and down payment assistance, the program has made it easier for teachers, law enforcement officers, firefighters, EMTs, veterans, and healthcare professionals to purchase a home and build equity for their families.
If you are a teacher, law enforcement officer, firefighter, EMT, veteran, or healthcare professional in South Carolina, and you are interested in purchasing a home, the Palmetto Heroes Lending Program may be the right option for you. To learn more about the program, visit the SC Housing website or contact a participating lender.
