Down Payment Assistance

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 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

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 90% 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 (30% 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

ELIGIBILITY SCREENING FORM

INCOME LIMITS GREENVILLE

INCOME LIMITS SPARTANBURG

INCOME LIMITS RICHLAND COUNTY

Northside Development Group Spartanburg Home Buyer Assistance

On behalf of the Northside Development Group, CommunityWorks will be offering down payment assistance up to $30,000* to first-time homebuyers purchasing a home in the Northside Neighborhood.

Eligible Buyers

(must meet all requirements)

Be a first-time homebuyer and/or
Be a Local Hero such as:
- Teachers
- First Responder
- Police Officer
- Firefighter
- Nonprofit employee
Have a household income at or below 120% AMI ($89,670 for family of four)
Be a District 7 Employee (no income limits)
Secure a fixed-rate mortgage
Monthly mortgage must be affordable (35% of monthly income)**
Attend a homebuyer workshop
Have mortgage lender first complete the Lender Application Checklist
Purchase a home in the Northside Neighborhood to be used as their primary residence

*The amount of funds will be contingent on buyers’ mortgage, financial situation and need based. Funds will be awarded on a first-come, first-serve basis
**Up to 40% based on buyers demonstrated ability to pay (ie: if rent was higher than mortgage)

Associated documents

Beaufort Memorial Employer Assisted Housing Program

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 (33% 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

ELIGIBILITY APPLICATION

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

ELIGIBILITY APPLICATION

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