News Summary
In July, South Carolina reached a historic milestone with its State Housing Finance and Development Authority providing assistance to 276 homebuyers, totaling nearly $70 million. This success marks the agency’s most productive month ever. The increase in support reflects a strong commitment to helping first-time buyers, particularly through the Palmetto Heroes program aimed at frontline professionals. Despite market challenges, SC Housing continues to enhance homeownership opportunities for all South Carolinians, working to overcome barriers and enhance community stability.
South Carolina Sets Record for Homeownership Assistance in July 2025
South Carolina achieved a historic milestone in July 2025, as the South Carolina State Housing Finance and Development Authority, known as SC Housing, set a new record for homeownership assistance. The agency reported assisting 276 homebuyers during the month, providing a total of $69,907,656 in financial support. This achievement marks July 2025 as the most successful month in the agency’s history.
Strong Year for First-Time Homebuyers
In the fiscal year 2025 alone, SC Housing assisted 1,992 first-time and qualifying homebuyers, a significant 13% increase compared to the previous record set in fiscal year 2024. Overall, the financing facilitated by SC Housing during the year exceeded $465 million, reflecting a 17% year-over-year growth.
Homeownership Programs and Support
SC Housing aims to enhance access to homeownership for South Carolinians through a variety of programs targeted at first-time buyers and income-qualified individuals. These initiatives include forgivable down payment assistance and lower fixed interest rates for eligible applicants. One of the standout programs, known as Palmetto Heroes, specifically supports frontline professionals such as teachers, nurses, and law enforcement personnel in securing mortgages. In 2025, the Palmetto Heroes program registered 331 home loans totaling more than $83 million, providing participants with $10,000 in forgivable down payment assistance.
Market Conditions Affecting Homeownership
The record achievements come amidst challenging market conditions, where the median existing-home price in the United States reached $420,800 in June 2025. This price increase has raised affordability concerns among potential homebuyers, particularly first-time purchasers. Additionally, the average 30-year mortgage rates have been hovering around 7%, further complicating the landscape for those looking to buy a home.
Commitment to Community Support
SC Housing emphasizes its commitment to overcoming barriers faced by individuals seeking homeownership, including those with limited credit access or facing high housing costs. The Director of single-family programs at SC Housing highlighted the positive impact of homeownership on families and communities, reflecting the agency’s larger goal of fostering stability and growth through homeownership.
Conclusion
As South Carolina looks to the future, SC Housing is dedicated to expanding its programs and support structures to assist more individuals and families in achieving the dream of homeownership. The agency’s recent record in homeownership assistance demonstrates its effectiveness in navigating market challenges while providing crucial support to those in need.
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Author: STAFF HERE GREENVILLE
The HERE Greenville Staff Writers are a collaborative team of journalists, editors, and local contributors passionate about delivering accurate, timely information to the Greenville community. As part of the HEREcity.com Network, which powers over 100 U.S. city sites including HEREcolumbia.com, our staff draws on collective experience in South Carolina journalism to cover everything from business sales and real estate developments to dining deals and community initiatives. Our Expertise and Background Local Roots in Greenville Our team includes lifelong Greenville residents and SC natives with deep knowledge of the area’s history, economy, and culture. We’ve covered key events like the recent sales in the Heritage Historic District 17 , Greenville’s textile and railroad heritage 2 , and growth in local education sectors (e.g., Greenville Technical College programs) 27 . Collective Experience With over 50 combined years in journalism, our staff has backgrounds in print, digital media, and community reporting. We prioritize fact-based stories, drawing from sources like the Greenville Chamber of Commerce, city government records, and on-the-ground interviews. Commitment to Quality Every article is a group effort, involving research, editing, and verification to ensure reliability. We adhere to journalistic standards, citing credible sources and updating content as new details emerge.
