Lexington County Homeownership Assistance Program: up to $5,000

How the $5,000 works

Lexington County Community Development's Grant Programs Division runs this HOME-funded help. It is a deferred loan that forgives itself over time. Sell the home or stop living in it within 5 years and you repay a prorated share. Funds are first-come, first-served, so call 803-785-8121 to ask what is left before you build it into your budget.

$5,000 is smaller than some neighboring programs, but it can cover a large share of closing costs on a modest home.

Who is eligible

• No ownership of a home in the past 3 years.
• Household income at or below 80% AMI: $51,950 for one person, $74,150 for four, $97,900 for eight.
• Price no higher than $233,000 (existing) or $295,000 (new).
• A fixed-rate mortgage with no co-signer.
• County homeownership classes.

The home must be built after 1977, cannot be a manufactured home, and must pass a Housing Quality Standards (HQS) inspection.

Lien position and other help

The county requires its loan to sit in second lien position. That detail matters if you hope to add other assistance, since many programs, including SC Housing's $10,000 DPA, are also recorded as second mortgages. Neither side states whether they combine, so ask a participating lender to confirm before you commit. Mistakes like this are covered in our DPA mistakes guide.

Where does it fit best? Buyers looking in West Columbia, Cayce, Irmo or the town of Lexington with prices under $233,000 for an existing home get the most use from it. New construction gets more room, up to $295,000. Because the money is prorated if you leave inside 5 years, think about job moves or family plans before you close, and keep the receipts from your county classes for the file.

The no-co-signer rule means the loan must rest on your own income and credit, so a parent cannot sign to help you qualify.

Applying

1. Call the county to confirm funds and get the application.
2. Take the county homeownership classes.
3. Get a fixed-rate pre-approval without a co-signer.
4. Pick a home under the price cap, built after 1977, not manufactured.
5. Pass the HQS inspection before closing.

Compare local options on the Lexington County page or check eligibility.

County guides for the area served: Lexington County

Questions about Lexington County Homeownership Assistance Program (HOME DPA)

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