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Down Payment Assistance Loans

  1. Home
  3. Lending
  5. Down Payment Assistance Loans

There’s No Place Like Home

Offering Down Payment Assistance to Home Buyers Across South Carolina

A home is a valuable investment — often one of the largest and most important you make. However, it can be challenging to save the funds necessary for the costs associated with purchasing a home.

Through our Homebuyer Assistance programs, homeownership is an attainable goal. You may qualify to receive assistance for the down payment and/or closing costs to help you purchase the perfect home for you.

Ready to purchase a home?

If you are pre-approved and working with a lender, read through the programs below, and notify your lender. They must first fill out the Home Buyer Assistance Application and then complete associated documents specific to the program they’re applying for.

Downpayment Assistance Application

Contact our Homebuyer Assistance Coordinator

If you have questions about the programs or how to get started, please reach out to our Homebuyer Assistance Coordinator, Tre’Dessa Smalls. You can call Tre’Dessa at 864  235  6331 (ext. 516) or email her at tsmalls@cwcarolina.org.

Down Payment Assistance Programs

Greenville County Homebuyer Assistance Program

Are you a first-time buyer hoping to buy a home in Greenville County? Is your median income at or below 80% Area Median Income? You may be eligible for a forgivable loan up to $10,000 to go toward your down payment and/or closing costs.

Eligible Buyers

(must meet all requirements)

  • First-time homebuyers (or not have owned a home in 3 years)
  • Have a household income at or below 80% Area Median Income (there is also a limited pool of funds for individuals between 80-120% AMI for up to $5,000)
  • Secure a 30 year, fixed-rate first mortgage
  • Invest a minimum of $500 into the home purchase
  • Attend a CommunityWorks orientation
  • Attend a homebuyer education workshop through Greenville County Human Relations Key Program
Eligible Properties
  • New and existing properties in Greenville County
    • The max purchase price for a new construction home is $250,000
    • The max purchase price for an existing home is $205,000
  • The home must be the buyer’s principal residence
  • Monthly mortgage payment must be affordable (35% of monthly income)
Eligible Uses
  • Funds may be used for down payment and/or closing costs
  • The total of bank mortgage on the property may not exceed 100% of the appraised value (this does not include funds from CommunityWorks)
  • Buyers may not receive any funds back at the time of closing
Terms
  • Funds will be released to the buyer’s attorney at closing
  • Assistance will be secured by a promissory note and a mortgage lien on the property
  • Assistance is a non-amortizing subordinate loan at 0% interest
  • Assistance provided by GCRA will be forgiven over five or more years depending on the amount of assistance. ($5,000 or below for 5 years. $5,001 or above for 8 years)
  • Recapture of Funds provided by CommunityWorks must be repaid on the sale of the property if the subsidy term is not completed
  • Property cannot be rented prior to the completion of the subsidy term
Fee

A $325 loan origination fee and applicable wiring fees will be due at closing.

Associated documents
LENDER CHECKLIST
INCOME LIMITS
MORE INFORMATION

City of Spartanburg Homebuyer Assistance Program

Looking for your perfect home in the City of Spartanburg? Is your median income at or below 80% Area Median Income? Qualified first time home buyers could be eligible for up to $5,000 in down payment and/or closing cost assistance.

Eligible Buyers

(must meet all requirements)

  • First-time homebuyers (or not have owned a home in 3 years)
  • Have a household income at or below 80% Area Median Income
  • Secure a fixed-rate first mortgage
  • Invest a minimum of $500 into the home purchase
  • Attend a homebuyer education workshop through ReGenesis.
  • Request a 3rd party home inspection prior to purchase
Eligible Properties
  • New and existing properties in the City of Spartanburg.
  • Purchase price of home for existing homes cannot exceed $191,000 and new construction costs $251,000.
  • The home must be the buyer’s principal residence.
  • Monthly mortgage payment must be affordable (approx. 30% of monthly income).
Eligible Uses
  • Funds may be used for down payment and/or closing costs for first-time homebuyers
Terms
  • Funds will be released to the buyer’s attorney at closing
  • Assistance will be secured by a promissory note and a mortgage lien on the property.
  • Assistance provided by City of Spartanburg will be forgiven over five or more years depending on the amount of assistance.
  • Assistance is a non-amortizing subordinate loan at 0% interest
Fee

A $325 loan origination fee and applicable wiring fees will be due at closing.

Associated documents
APPLICATION SUPPLEMENT
LENDER CHECKLIST
INCOME LIMITS
MORE INFORMATION

PRISMA Health Employer Assisted Housing Program

Are you a PRISMA (formerly Greenville Hospital System) employee looking for an affordable, safe housing option close to work? You may be eligible for The PRISMA Health Employer Assisted Housing Program. CommunityWorks has partnered with PRISMA to provide up to $5,000 in down payment and closing cost assistance to eligible applicants.

Eligible Buyers

(must meet all requirements)

  • PRISMA employees (full time or part-time who are actively at work) and in good standing for a minimum of 12 months
  • First time homebuyers (or not have owned a home in the past three years)
  • Have a household income at or below 120% Area Median Income
  • Secure a 30 year, fixed-rate first mortgage
  • Invest a minimum of $500 into the home purchase
  • Attend a CommunityWorks orientation
  • Attend a homebuyer education workshop through Greenville County Human Relations Key Program
Eligible Properties
  • Properties within a 10-mile radius of a PRISMA campus or provider practice
  • The home must be the buyer’s principal residence
  • Monthly mortgage payment must be affordable (35% of monthly income or less)
Eligible Uses
  • Funds may be used for down payment and/or closing
  • FHA Loans for homes purchased outside of Greenville County may only use funds for closing cost assistance
  • The total of all mortgages on the property may not exceed 100% of appraised value
  • Buyers may not receive any funds back at the time of closing
Terms
  • Funds will be released to the buyer’s attorney at closing
  • Assistance will be secured by a promissory note and a mortgage lien on the property
  • Assistance is a non-amortizing subordinate loan at 0% interest
  • Down payment assistance loan amount will be forgiven over five years
  • Loan balances for employees terminated from PRISMA due to disability will be forgiven
Fee

A $325 loan origination fee and applicable wiring fees will be due at closing.

Associated documents
APPLICATION SUPPLEMENT
LENDER CHECKLIST
ELIGIBILITY SCREENING FORM
INCOME LIMITS GREENVILLE
INCOME LIMITS SUMTER
INCOME LIMITS LAURENS
INCOME LIMITS PICKENS
INCOME LIMITS OCONEE
INCOME LIMITS SPARTANBURG
INCOME LIMITS RICHLAND COUNTY
MORE INFORMATION

Beaufort Memorial Employer Assisted Housing Program

If you have questions about this program, please contact Homebuyer Assistance Coordinator, Tre’Dessa Smalls. Email her at tsmalls@cwcarolina.org or call her at 864-235-6331 (ext 516).

Beaufort Memorial Hospital and CommunityWorks have partnered together to bring a home buyer assistance program to Beaufort Memorial Hospital team members. The program offers up to $10,000 to qualified applicants.

Eligible Buyers
  • Beaufort Memorial employees must be in good standing and have been employed a minimum of six months depending on the benefit.
    Beaufort Memorial will provide forgivable loans of:

    • Up to $10,000 to be used for all or a portion of the down payment or closing costs for homebuyers with a household income at or below 100% AMI;
    • Up to $5,000 to be used for all or a portion of the down payment or closing costs for homebuyers with a household income between 100-200% AMI.
    • Up to $5,000 to be used for closing costs of home refinance for homeowners with a household income at or below 100% AMI.
    • Up to $2,500 to be used for closing costs of home refinance for homeowners with a household income between 100-200% AMI.
  • Secure a 30 year, fixed rate mortgage
  • Invest a minimum of $500 into the home purchase or refinance
  • Attend a CommunityWorks orientation & a separate homebuyer education workshop
Eligible Properties
  • Properties within a 15-mile radius of a Beaufort campus or provider practice
  • The home must be the buyer’s principal residence.
  • Monthly mortgage payment must be affordable (35% of monthly income or less)
Eligible Uses
  • Funds may be used for down payment and/or closing costs.
  • The total of all mortgages on the property may not exceed 100% of appraised value
  • Employees may not receive any funds back at the time of closing
Terms

  • Funds will be released to the employee’s attorney at closing

  • Assistance will be secured by a promissory note and a mortgage lien on the property

  • Assistance is a non-amortizing subordinate loan at 0% interest

  • Down payment assistance loan amount will be forgiven over five years

  • Loan balances for employees terminated from Beaufort Memorial due to disability will be forgiven

Fee

A $325 loan origination fee and applicable wiring fees will be due at closing.

Associated documents
LENDER CHECKLIST
APPLICATION SUPPLEMENT
INCOME LIMITS
ELIGIBILITY APPLICATION
MORE INFORMATION

City of Beaufort Employer Assisted Housing Program

The City of Beaufort and CommunityWorks have partnered together to bring a home buyer assistance program to city employees. The program offers up to $10,000 to qualified applicants.

Eligible Employees
  • City of Beaufort employees must be in good standing and have been employed past the probationary period
  • Must have a household income at or below 200% AMI
  • Secure a 30 year, fixed rate mortgage
  • Invest a minimum of $500 into the home purchase
  • Attend an approved homebuyer education workshop
Eligible Properties
  • Properties within Beaufort County
  • The home must be the buyer’s principal residence
  • Monthly mortgage payment must be affordable (35% of monthly income or less)
Eligible Uses
  • Funds may be used for down payment and/or closing costs.
  • The total of all mortgages on the property may not exceed 100% of appraised value
  • Employees may not receive any funds back at the time of closing
Eligible Loan Types
  • FHA, Conventional, USDA, or VA mortgage product
Terms

  • Funds will be released to the employee’s attorney at closing

  • Assistance will be secured by a promissory note and a mortgage lien on the property

  • Assistance is a non-amortizing subordinate loan at 0% interest

  • Down payment assistance loan amount will be forgiven over five years

  • Loan balances for employees terminated from the City of Beaufort due to a disability will be forgiven

Fee

A $325 loan origination fee and applicable wiring fees will be due at closing.

Associated documents
LENDER CHECKLIST
APPLICATION SUPPLEMENT
INCOME LIMITS
ELIGIBILITY APPLICATION
MORE INFORMATION

Spartanburg Regional Healthcare System Employee Homebuyer Assistance Program

Up to $5,000 in down payment and/or closing cost assistance to qualified Spartanburg Regional employees purchasing a home.

Eligible Employees
  • Spartanburg Regional employees (full time or part time who are actively at work) in good standing for a minimum of 12 months
  • Spartanburg Regional will provide forgivable loans of up to a $5,000 forgivable loan forgiven over five-year to be used for all or a portion of the down payment or closing costs for homebuyers with a household income at or below 120% AMI
  • Secure a 30 year, fixed rate mortgage
  • Invest a minimum of $500 into the home purchase or refinance
  • Attend an approved homebuyer education workshop
Eligible Properties
  • The home must be the buyer’s principal residence
  • Monthly mortgage payment must be affordable (35% of monthly income or less)
Eligible Uses
  • Funds may be used for down payment and/or closing costs.
  • The total of all mortgages on the property may not exceed 100% of appraised value
  • Employees may not receive any funds back at the time of closing
Eligible Loan Types
  • Conventional, USDA, or VA mortgage product
  • If using FHA, the home must be purchased in the City of Spartanburg
Terms

  • Funds will be released to the employee’s attorney at closing

  • Assistance will be secured by a promissory note and a mortgage lien on the property

  • Assistance is a non-amortizing subordinate loan at 0% interest

  • Down payment assistance loan amount will be forgiven over five years

  • Loan balances for employees terminated from Spartanburg Regional due to disability will be forgiven

Fee

A $325 loan origination fee and applicable wiring fees will be due at closing.

Associated documents
LENDER CHECKLIST
APPLICATION SUPPLEMENT
INCOME LIMITS
ELIGIBILITY APPLICATION
FAQ
MORE INFORMATION

City of Goose Creek Employer Assisted Homebuyer Program

Up to $10,000 in down payment and/or closing cost assistance to qualified Goose Creek employees purchasing a home.

Eligible Employees

• City of Goose Creek employees must be in good standing and have been employed a minimum one year
• City of Goose Creek will provide forgivable loans of:
Up to $10,000 in assistance for employees making up to $60,000
Up to $9,000 in assistance for employees making $60,001- $65,000
Up to $8,000 in assistance for employees making $65,001- $70,000
Up to $7,000 in assistance for employees making $70,001- $75,000
Up to $6,000 in assistance for employees making $75,001- $85,00

• Secure a 30-year, fixed rate mortgage
• Invest a minimum of $500 into the home purchase
• If you are a first-time homebuyer, you must attend an education workshop

Eligible Properties

  • Home must be located inside the city limits and primary residence. The property must be in good condition and ready for occupancy within 90 days of closing

Eligible Uses
  • Funds may be used for down payment and/or closing costs
  • The total of all mortgages on the property may not exceed 100% of appraised value
  • Employees may not receive any funds back at the time of closing
Eligible Loan Types

  • FHA, Conventional, USDA, or VA mortgage product

Terms

• Funds will be released to the employee’s attorney at closing

• Assistance will be secured by a promissory note and a mortgage lien on the property

• Assistance is a non-amortizing subordinate loan at 0% interest

• Down payment assistance loan amount will be forgiven over five years

• Must stay employed with the City for forgiveness term (5 years)

Fee

A $325 loan origination fee and applicable wiring fees will be due at closing.

Associated Documents
MORE INFORMATION