I am looking at buying my first home utilizing the SC Teachers Loan program in the LowCountry

Asked by J.D, Charleston, SC Sat Jul 7, 2012

As an educator, I would like to take advantage of this loan and reap the 5k down payment assistance and 3.75% rate for my first home. I have been looking and am really intrigued in homes under 120k that need cosmetic work. Is it possible to use this loan and use a renovation loan on a home? Im looking for a lender and agent that can help me find a suitable home somewhere in the lowcountry (safe, clean neighborhood) in the very near future.

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9
Financialser…, Home Buyer, San Jacinto, CA
Tue Feb 12, 2013
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0 votes
Mikki Ramey, Agent, Daniel Island, SC
Mon Sep 10, 2012
I love teachers! I am a former Charleston county teacher and know that it helps so much to have special assistance for the educators of our area. Palmetto Heroes is a great program for SC teachers that could help you. This product allows for $5000 in down payment assistance and low interest rates. There are also renovation loans that will help you meet your needs as well. You would basically need to compare the Palmetto Heroes product and home renovation product and see which is better for you. Would you like me to provide you with names of lenders who can assist you with this? Also, I would be happy to send you listings of homes for sale if you tell me the type of home you want and the area in which you are looking. I look forward to helping you!
0 votes
I am presently relocating to the Charleston Schools from Horry County. I am need of a 100% financing mortgage loan. I have no money for a down payment or closing costs due to selling my former home I had before relocating here to SC. Any assistance you can give me would be greatly appreciated. You can email me at tlbbballmom@gmail.com.
Thank you.
Flag Tue Jun 9, 2015
Tnt, Home Owner, Mount Pleasant, UT
Mon Jul 23, 2012
What is the SC Teachers Loan program. We are looking to move to SC in 9 months and my husband is a teacher.
0 votes
I would be happy to help. I am a former teacher and I know a lot about the program. I also am very familar with the program.
Flag Tue Feb 12, 2013
Hi there - as a teacher you are eligible for down payment assistance, a lower interest rate, and other incentives. There is a particular program you might be able to take advantage of. It includes down payment assistance up to $5,000.00. You may also be eligible for 100% owner financing. Shoot me an email at rebecca@CharlestonTopHomes.com and I would be happy to explain this program to you in more detail. Or feel free to call me at 843.755.4045.
Flag Tue Jul 31, 2012
Rebecca Kros…, Agent, Bonita Springs, FL
Mon Jul 9, 2012
Hi J.D.,

did you get a chance to look at my blog? Give me a call at 843.755.4045. I can put you in touch with an excellent lender, as well as provide excellent personal service to you. I specialize in First Time Home Buyers.

Have a great start to the week!

Rebecca Kroseberg
Coldwell Banker United, Realtors
843.755.4045
0 votes
Carolyn Cain, Agent, North Charleston, SC
Sun Jul 8, 2012
Hi JD,
I would be happy to assist you in purchasing your first home and yes there are loans available that can be used for renovations as mentioned in reponses below; I can refer you to a very good lender. Please call or e-mail me and we can discuss, (843) 437-0444 or cainc_1@msn.com ro caroloyn@caresrealestate.com Have a great day!
0 votes
Connie Dittr…, Agent, Mt Pleasant, SC
Sat Jul 7, 2012
J.D. For all the information you need check out the website below from the S.C. State Housing department. It provides you with everything you need. http://(www.schousing.com/ )

And remember, you're not guaranteed that $5K down payment. Eligible Palmetto Heroes home buyers can get a fixed interest rate of 3.75% on a mortgage as well as down payment assistance of up to $5,000.

As far as coupling the Palmetto Heros loan with another low-cost loan, you may be able to pair it with HUD's FHA 203K. (http://portal.hud.gov/hudportal/HUD?src=/program_offices/hou…). Until you talk to a GOOD/knowledgeable loan officer you will not know for certain exactly what you can do.

I'd love to assist you in this complicated process.

Connie Dittrich
Realtor, Carolina One Real Estate
cdittrich@carolinaone.com
0 votes
Desiree Maur…, Agent, Mount Pleasant, SC
Sat Jul 7, 2012
J.D.,
Congrats on taking advantage of this present buyer's market! Not every lender out there works with this program. If you would like a list of loan mortgage officers who do work with it to see if your salary qualifies you for the offered assistance, please let me know and I would be happy to email you. As Jim mentioned, there are still plenty of great homes out there in your price range where you don't have to make a lot of repairs. If I can assist you in finding your home, please let me know and I am happy to help!
Regards,
Desiree

dmaurer@prusun.com
843-327-9010
0 votes
Rebecca Kros…, Agent, Bonita Springs, FL
Sat Jul 7, 2012
Hi J.D.,

I have a first time home buyer blog that you will find helpful:

http://CharlestonTopHomes.com/category/blog

Do you have an email address so I can forward some loan information on to you?

Rebecca
0 votes
Kathleen Emde, Agent, Greenville, SC
Sat Jul 7, 2012
Well what are you looking for? The facts are that this home closely follows guildelines and the house has to be habitable. Normally you could do some repairs. Why not look for a home that is in your price range that doesn't need a lot of work? I have some areas that have great townhomes available for this price. I could suggest some lenders. Just let me know.

Kathleenemde@yahoo.com
0 votes
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