The South Carolina State Housing Finance and Development Authority (SC Housing) is pleased to introduce the 2025 Palmetto Heroes Program. Starting today, March 24, 2025, this program supports essential workers in achieving their homeownership goals. The program honors educators, first responders, and community service personnel, including those in law enforcement, corrections, firefighting, emergency medical services, and healthcare, as well as active-duty military, reservists, and veterans.
Who Qualifies?
To qualify for the Palmetto Heroes 2025 program, one or more borrowers must be employed in one of the following professions and meet SC Housing’s First-Time Homebuyer requirements:
| Educator | Law Enforcement & Corrections | Fire, EMT, Paramedics | Military & Reservist | Licensed Medical Professional |
|---|---|---|---|---|
| Classroom Teacher | Police Officer | Firefighter (FT or Volunteer) | Active Duty or Veteran | CNA, LPN, RN |
| Librarian | DNR Officer/Game Warden | EMT | SC Reservist (National or Air National Guard) | Phlebotomist, Pharmacy, or X-ray Tech |
| Guidance Counselor | TSA Officer | Paramedic | Army | Audiology and Hearing Tech |
| School Psychologist | Parole Officer | Navy | Occupational, Physical, and Respiratory Therapist | |
| Speech Language Pathologist | SC DOC/SC DJJ Correctional Officer | Air Force | Dental Hygienist | |
| College Professor | State, County or Municipal Detention Center Officer | Marines | Dental Assistant | |
| Coast Guard | Speech Language Pathologist |
Program Benefits:
- Competitive Interest Rates: The program offers competitive interest rates, which are published daily and subject to change.
- Down Payment Assistance (DPA):
- The DPA is a 15-year forgivable zero percent interest, no-payment second mortgage.
- The DPA is $10,000, which can only be used to cover the borrower’s down payment, closing costs, and prepaid items.
- No portion of the DPA can be used to pay for mortgage insurance premiums, appraisal gaps, or real estate commissions.
- The DPA must be paid in full upon sale, refinance, or if the property is no longer the borrower’s primary residence prior to maturity.
- Subordination of the DPA is not permitted.
Additional Program Information:
Lenders participating in the program must adhere to specific guidelines and requirements. This includes using the program supplement in conjunction with the SC Housing Homebuyer Program Guide and Manual. All approved Lending Partners are eligible to participate. To reserve or lock an interest rate, borrowers must have a fully executed sales contract for the purchase of a home. All loans must be closed and purchased by SC Housing by December 31, 2025. Compliance income for program eligibility is based on the total income for anyone listed on the loan application and/or holding title to the property at closing. Income and sales price limits must meet program and investor requirements and are county-specific and subject to change. Lenders are responsible for completing, delivering, and documenting all required TRID disclosures, including a final Closing Disclosure, any addendum, and seller certification signed by all parties. Lenders are also responsible for sending Good-Bye letters (first and second DPA) in accordance with RESPA guidelines. Lenders must deliver loans originated in accordance with AUS and insurer guidelines, unless otherwise stated in the program guide. In cases where guidelines conflict, lenders must follow the more restrictive requirements for credit, income limits, total debt-to-income ratio, loan, and property requirements. It is important to note that the information provided in the program guide is intended for Lending Partner use only and should not be used by individual consumers or borrowers.
For more detailed information, refer to the Palmetto Heroes Program Guide.
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