The South Carolina State Housing Finance and Development Authority (SC State Housing), based in Columbia, aims to create affordable housing opportunities for the citizens of South Carolina. Every day, a significant volume of paper is received and processed by the agency in fulfilling that mission. It is a self-supporting state agency that does not rely on tax-generated funds for its operations.
SC State Housing has served South Carolina citizens for more than three decades. Throughout the years, agency programs have made housing affordable for more than 150,000 people. It has also issued more than $1.1B in tax-exempt bonds that provide financing for affordable housing without the use of any state-appropriated funding.
A number of federal and state programs directed at low and low-to-moderate income South Carolinians are administered by SC State Housing. Agency programs assist families and neighborhoods and help stimulate the economy by supporting jobs in the construction, real estate, and financial industries. SC State Housing also partners with banks, credit unions, legal firms and mortgage brokers to give potential borrowers an extensive list of lending partners. Potential borrowers are offered various loan programs to help them buy a home, competitive fixed interest rates and down payment/closing cost assistance. The major benefits to homebuyers are lower interest rates and reduced mortgage insurance rates, allowing them to have more affordable monthly payments and save thousands of dollars over the life of a mortgage.