The goal of the Richland County Home-ownership Assistance Program is to provide down payment and closing cost assistance to make home-ownership possible in unincorporated Richland County. To receive an application of assistance, an individual or family must attend an Orientation.
Richland County Community Development, RCHAP program's priority is to make home-ownership opportunities available to low-to moderate income households. The assistance is given in the form of forgivable loans, up to $10,000 is available to be applied to down-payment and/or closing costs for the purchase of single-family dwelling.
Qualifications to be eligible
- Must be a resident of South Carolina
- Must be qualified as a household of low to moderate income. Click here to view HUD Income Limits, our program uses the 80% limits. (limits change yearly)
- Cannot have a contract on a house until after completing program requirements
- Must be a single - family detached dwelling located in the unincorporated area of Richland County.
- The selected properties must be built after 1978.
- Each property must be able to pass a rigid inspection that will guarantee the home is livable, safe and does not require immediate repair.
- Max purchase price: Existing - $140,000 New - $224,000 (purchase price change yearly)
- The assistance will be provided as a deferred, forgivable, second mortgage.
- Approved applicants must live in the home for five (5) years from the time of closing for the loan to be forgiven. (If the applicant does not use the home as primary residence for the five-year period, the assistance must be repaid based on a prorated formula.)
- Maximum Loan amount is up to $10,000
PLEASE FOLLOW THE STEP-BY-STEP PROCESS TO AVOID DISRUPTION IN THE APPLICATION PROCESS
STEP 1: All applicants must attend the RCHAP Program Orientation to receive the official RCHAP application. Please note the updated policy for orientation attendance, online registration is required. Please note the RCHAP orientations are full for 2017. The new 2018 schedule will be posted soon.
STEP 2: Once you've received the RCHAP application, you must attend the home buying classes, click to view schedule. You may attend classes prior or before orientation.
STEP 3: After attending the RCHAP Orientation and the home buying classes, you may submit the application. Please refer to the application checklist you received during the RCHAP Orientation with required paperwork needed to submit your application. No application will be accepted without ALL required documents, including:
- Pre-qualification or pre-approval letter from reputable lender that is valid & approval is valid for 90 days
- $50 Application Fee (Money Order or Cashier’s Check) no Personal Checks.
- Adhere to policies and procedures of the RCHAP program.
STEP 4: Once the application is submitted with ALL the required paperwork, the application process takes up to 45 business days. Please note the application approval time when considering your home-buying process.
All applicants will receive a written notification when the process is complete.
For more information, call Delores Shabazz 803-576-2089 or firstname.lastname@example.org.
Please check our website for updated information.