Mortgage bankers
of the carolinas, InC.

SC Housing

A state agency in South Carolina, offers mortgage and down payment assistance programs that provide several benefits to potential homebuyers, especially first-time buyers and those with moderate incomes. These programs make homeownership more accessible by offering:

1.    Down payment assistance through a second lien with no payments, 0% interest, forgivable after 15 years.

2.    Assistance with closing costs, which can be a significant upfront expense.

3.    Below-market interest rates on mortgages, reducing the total cost of a home over the loan's life.

4.    More flexible credit score and qualifying requirements compared to conventional mortgages.

5.    A range of loan options, including FHA, VA, USDA RD, and Conventional loans.

6.    Contributions to community stability and growth by helping more people achieve homeownership.

7.    Opportunities for individuals to build equity and long-term, often generational, financial security through homeownership.

8.    Special assistance programs for veterans, teachers, first responders, and other community service groups (some of these programs are seasonal. Check our website often) at SC Housing

All SC Housing loans are originated by our approved lenders (see our website for a complete list.

For banks participating in SC Housing's mortgage programs, there are additional advantages:

1.    Lender compensation: SC Housing pays participating lenders a 1.50% premium on every loan delivered, in addition to allowing lenders to charge up to a 1.00% origination fee and any usual and customary lender fees.

2.    Meeting the credit needs of the communities they serve, which can bolster a bank's written CRA plan. Loans sold to SC Housing generally qualify for CRA credit.

3.    Partnerships with real estate professionals, as SC Housing's programs help builders and realtors sell homes.