On March 26,
2013, the South Carolina State Housing
Finance and Development Authority (SC Housing) announced the 2013 Palmetto
Heroes Program. This program makes funds available for South Carolina's heroes i.e.
law enforcement officers, correctional officers, teachers, firefighters,
nurses, veterans and EMS personnel - that want to become homeowners. Qualified
homebuyers in these categories will get loans at a low interest rate of 3% and
$5,000 in down payment assistance - some buyers may even qualify for up to $8,000
in down payment assistance on newly constructed homes.
Palmetto Heroes is one way SC Housing
salutes members of these professions by offering low interest loans to those
who qualify. A huge benefit of the program - the down payment assistance -
could even be forgivable over time in some cases, depending on the borrower's
income!
"This program is our way of honoring these dedicated individuals who contribute so much to our state," said Valarie Williams, Executive Director of SC Housing. "It's important that we invest as much in them as they do into our state each and every day. We hope this program might even strengthen recruitment and retention in these careers, which are crucial to our state's overall wellbeing."
Source: SC Housing
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