Down Payment Assistance - SC First Time Home Buyer "Heroes"

Down Payment Assistance - First Time Home Buyers - SC Palmetto Heroes Program

(There may be similar State Housing Assistance Programs in other parts of the country but this post describes the program for South Carolina.)

Announcing Down Payment Assistance for Police Officers, Firefighters, EMS and Teachers -The 2010 Palmetto Heroes Program is offered by the State Housing Authority and provides both reduced mortgage rates and down payment assistance for qualified First Time Home Buyers who are certified in one of the professions listed above. The funds are limited and loans will be granted on a first come first served basis. There is no requirement for repayment provided the buyer meets certain criteria. The site also provides a list of lenders who offer this program.

First Time Home Buyer - Tax Credit Recap

As a reminder First Time Home Buyers wishing to take advantage of the Tax Credit must have a  Purchase Agreement for a primary residence  signed no later then April 30, 2010 and they must close no later then June 30, 2010.

The tax credit equates to up to 10% of the home's purchase price and remains capped at $8,000; however qualifying income levels have been raised to $125,000 for single tax filers and $225,000 for joint filers up from the original levels of $75,000 and $150,000 respectively.