South Carolina Regional Housing Authority #3

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South Carolina
Regional Housing Authority #3
P. O. Box 1326
Barnwell, SC 29812
(803) 259-3588

The Homeownership Program was begun in 1999 and has since helped over 25 families become homeowners. Working in partnership with participating lenders and the South Carolina State Housing Finance and Development Authority, the program helps first-time homebuyers obtain financing and homeownership counseling. The program also works in partnership with the Southeastern Housing Foundation to buy single-family properties in need of repair, renovate them, and resell them at appraised value to homebuyers unable to receive a conventional mortgage. The program is self-perpetuating because proceeds from the sale of units will be reinvested to buy existing homes or build new homes.

Eligibility Requirements for the Homeownership Program:

$12,000 minimum annual income
Job stability (one year continuous employment)
Credit acceptable to lender
First-time home buyer

Benefits of Program:

Interest rates as low as 4% ($286.45 (P & I) per month on $60,000.00 home)
Down payment and closing cost assistance up to $5,000.00

Types of Financing Available:
Conventional, FHA, VA, and SC State Housing Finance

The Homeownership Program currently has homes available for purchase in 12 counties in South Carolina. If you are interested in the Homeonership Program or would like additional information, please call (803) 534-9950 or write our office at 986 Doyle St., Orangeburg, SC 29115.